Proficio Capital Partners LLC Takes $25.09 Million Position in Extra Space Storage Inc. (NYSE:EXR)

Proficio Capital Partners LLC purchased a new position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 167,714 shares of the real estate investment trust's stock, valued at approximately $25,090,000. Proficio Capital Partners LLC owned approximately 0.08% of Extra Space Storage at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in Extra Space Storage during the fourth quarter worth approximately $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Extra Space Storage in the 3rd quarter valued at $33,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Extra Space Storage in the 3rd quarter valued at $42,000. Continuum Advisory LLC boosted its holdings in shares of Extra Space Storage by 68.1% in the 3rd quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust's stock valued at $56,000 after purchasing an additional 126 shares in the last quarter. Finally, Quent Capital LLC boosted its holdings in shares of Extra Space Storage by 89.0% in the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust's stock valued at $49,000 after purchasing an additional 154 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Trading Up 0.8 %

Shares of EXR stock traded up $1.22 during mid-day trading on Tuesday, hitting $147.85. The company's stock had a trading volume of 1,336,581 shares, compared to its average volume of 1,003,138. The company's fifty day simple moving average is $152.90 and its 200-day simple moving average is $161.80. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The company has a market cap of $31.34 billion, a PE ratio of 38.70, a P/E/G ratio of 7.76 and a beta of 0.90.

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Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.93. The firm had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. As a group, equities research analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage's payout ratio is 160.40%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on EXR shares. Scotiabank reduced their target price on Extra Space Storage from $167.00 to $165.00 and set a "sector perform" rating on the stock in a report on Wednesday, March 5th. Royal Bank of Canada reduced their target price on Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group reiterated a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Barclays dropped their price target on Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. Finally, StockNews.com cut Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Extra Space Storage currently has an average rating of "Hold" and a consensus price target of $171.09.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the sale, the chief executive officer now directly owns 16,690 shares of the company's stock, valued at $2,470,286.90. The trade was a 31.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP William N. Springer sold 1,220 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the sale, the executive vice president now directly owns 20,158 shares of the company's stock, valued at $3,077,320.28. This represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,392 shares of company stock valued at $1,396,515 in the last three months. Corporate insiders own 1.36% of the company's stock.

Extra Space Storage Company Profile

Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2023, the Company owned and/or operated 3,714 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.6 million units and approximately 283.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.