Envestnet Portfolio Solutions Inc. Increases Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Envestnet Portfolio Solutions Inc. lifted its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 33.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,555 shares of the real estate investment trust's stock after purchasing an additional 3,117 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Extra Space Storage were worth $1,878,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of EXR. Buckley Wealth Management LLC raised its stake in shares of Extra Space Storage by 2.6% during the 4th quarter. Buckley Wealth Management LLC now owns 3,910 shares of the real estate investment trust's stock worth $585,000 after buying an additional 99 shares during the period. Aviso Financial Inc. purchased a new stake in Extra Space Storage in the 4th quarter worth $758,000. Commonwealth Equity Services LLC raised its position in Extra Space Storage by 2.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 21,062 shares of the real estate investment trust's stock worth $3,151,000 after acquiring an additional 425 shares during the period. Achmea Investment Management B.V. lifted its holdings in Extra Space Storage by 72.1% during the fourth quarter. Achmea Investment Management B.V. now owns 7,480 shares of the real estate investment trust's stock valued at $1,119,000 after purchasing an additional 3,134 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Extra Space Storage by 245.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 866 shares of the real estate investment trust's stock valued at $130,000 after purchasing an additional 615 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

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Extra Space Storage Trading Down 1.0 %

Shares of EXR traded down $1.43 during mid-day trading on Tuesday, reaching $144.56. The stock had a trading volume of 1,034,925 shares, compared to its average volume of 1,001,413. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87. The firm has a market cap of $30.65 billion, a price-to-earnings ratio of 37.84, a P/E/G ratio of 7.76 and a beta of 0.90. The business's fifty day moving average is $152.73 and its 200 day moving average is $160.75. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.93. The business had revenue of $821.90 million during the quarter, compared to analysts' expectations of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. On average, sell-side analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage's dividend payout ratio is presently 160.40%.

Insider Buying and Selling

In other Extra Space Storage news, Director Joseph J. Bonner sold 672 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $149.10, for a total transaction of $100,195.20. Following the completion of the transaction, the director now owns 4,557 shares of the company's stock, valued at $679,448.70. This trade represents a 12.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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 shares were sold at an average price of $152.66, for a total transaction of $186,245.20. Following the completion of the sale, the executive vice president now directly owns 20,158 shares in the company, valued at $3,077,320.28. This trade represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,392 shares of company stock valued at $1,396,515. 1.36% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

About Extra Space Storage

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.