Extra Space Storage Inc. (NYSE:EXR) Shares Bought by Cerity Partners LLC

Cerity Partners LLC lifted its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 39.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,426 shares of the real estate investment trust's stock after buying an additional 4,114 shares during the quarter. Cerity Partners LLC's holdings in Extra Space Storage were worth $2,599,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. EdgeRock Capital LLC bought a new stake in Extra Space Storage during the 2nd quarter valued at $25,000. Centerpoint Advisors LLC purchased a new position in Extra Space Storage in the second quarter valued at about $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Extra Space Storage in the 3rd quarter valued at about $33,000. Blue Trust Inc. grew its position in shares of Extra Space Storage by 540.5% in the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust's stock worth $35,000 after buying an additional 200 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of Extra Space Storage by 2,760.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust's stock worth $44,000 after buying an additional 276 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on EXR shares. Royal Bank of Canada initiated coverage on shares of Extra Space Storage in a research note on Tuesday, September 10th. They issued a "sector perform" rating and a $180.00 target price for the company. StockNews.com cut Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Thursday, October 31st. Evercore ISI dropped their target price on Extra Space Storage from $170.00 to $168.00 and set an "in-line" rating on the stock in a research note on Monday, October 14th. Barclays increased their price target on Extra Space Storage from $188.00 to $192.00 and gave the company an "overweight" rating in a research note on Monday, October 28th. Finally, Scotiabank dropped their price target on Extra Space Storage from $169.00 to $167.00 and set a "sector underperform" rating on the stock in a research note on Monday, November 25th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Extra Space Storage currently has an average rating of "Hold" and an average target price of $171.36.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, Director Kenneth M. Woolley sold 6,647 shares of Extra Space Storage stock in a transaction on Friday, September 13th. The shares were sold at an average price of $177.23, for a total value of $1,178,047.81. Following the completion of the transaction, the director now owns 404,306 shares of the company's stock, valued at approximately $71,655,152.38. The trade was a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Diane Olmstead sold 3,081 shares of the company's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $164.56, for a total transaction of $507,009.36. Following the completion of the transaction, the director now owns 5,877 shares of the company's stock, valued at approximately $967,119.12. This trade represents a 34.39 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,228 shares of company stock valued at $3,023,957. 1.36% of the stock is owned by company insiders.

Extra Space Storage Stock Performance

NYSE EXR traded down $1.72 on Friday, hitting $170.96. 1,273,975 shares of the company's stock traded hands, compared to its average volume of 852,595. The firm's 50-day moving average price is $169.64 and its two-hundred day moving average price is $164.42. The firm has a market capitalization of $36.24 billion, a PE ratio of 44.75, a P/E/G ratio of 8.61 and a beta of 0.87. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 1-year low of $129.23 and a 1-year high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.03 by ($1.12). The business had revenue of $824.80 million for the quarter, compared to analyst estimates of $826.93 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.02 earnings per share. As a group, analysts expect that Extra Space Storage Inc. will post 8.09 EPS for the current year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.79%. The ex-dividend date is Monday, December 16th. Extra Space Storage's dividend payout ratio is currently 169.63%.

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.