Guggenheim Capital LLC Sells 63,853 Shares of Extra Space Storage Inc. (NYSE:EXR)

Guggenheim Capital LLC lowered its position in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 47.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 69,842 shares of the real estate investment trust's stock after selling 63,853 shares during the quarter. Guggenheim Capital LLC's holdings in Extra Space Storage were worth $10,448,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of EXR. Golden State Wealth Management LLC acquired a new stake in Extra Space Storage during the fourth quarter worth $25,000. Harbour Investments Inc. increased its stake in Extra Space Storage by 90.9% in the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 80 shares during the period. Quent Capital LLC raised its position in Extra Space Storage by 89.0% in the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 154 shares in the last quarter. Asset Planning Inc bought a new position in Extra Space Storage during the fourth quarter worth about $52,000. Finally, Kestra Investment Management LLC acquired a new stake in Extra Space Storage during the fourth quarter valued at approximately $54,000. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Trading Up 2.8 %

EXR traded up $3.83 during trading on Tuesday, reaching $142.03. 125,592 shares of the company's stock were exchanged, compared to its average volume of 1,062,469. The company's fifty day moving average price is $146.59 and its 200-day moving average price is $154.91. The firm has a market capitalization of $30.14 billion, a PE ratio of 37.15, a P/E/G ratio of 7.76 and a beta of 0.96. Extra Space Storage Inc. has a fifty-two week low of $121.03 and a fifty-two 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.

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

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $1.62 per share. The ex-dividend date was Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.56%. Extra Space Storage's dividend payout ratio is 160.40%.

Insider Activity at Extra Space Storage

In other news, Director Joseph J. Bonner sold 672 shares of the firm's stock in a transaction that occurred on 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 directly owns 4,557 shares of the company's stock, valued at $679,448.70. This trade represents a 12.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the completion of the sale, the chief executive officer now directly owns 9,190 shares in the company, valued at approximately $1,355,065.50. This represents a 44.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,392 shares of company stock worth $1,392,315 in the last quarter. Corporate insiders own 1.36% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on EXR. The Goldman Sachs Group restated a "buy" rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Barclays lowered their target price on shares of Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating on the stock in a report on Wednesday, March 12th. StockNews.com lowered shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Friday, March 7th. Royal Bank of Canada cut their target price on shares of Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating for the company in a research note on Thursday, February 27th. Finally, Wells Fargo & Company dropped their price target on Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating for the company in a report on Friday, February 21st. Two research analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Extra Space Storage presently has a consensus rating of "Hold" and a consensus price target of $167.25.

Extra Space Storage 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.