167,714 Shares in Extra Space Storage Inc. (NYSE:EXR) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 167,714 shares of the real estate investment trust's stock, valued at approximately $25,090,000. Proficio Capital Partners LLC owned about 0.08% of Extra Space Storage as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of EXR. Golden State Wealth Management LLC acquired a new stake in shares of Extra Space Storage during the fourth quarter valued at $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Extra Space Storage during the 3rd quarter worth about $33,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Extra Space Storage during the third quarter worth about $42,000. Quent Capital LLC raised its position in shares of 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 valued at $49,000 after buying an additional 154 shares during the last quarter. Finally, Asset Planning Inc purchased a new position in shares of Extra Space Storage during the fourth quarter valued at approximately $52,000. Hedge funds and other institutional investors own 99.11% of the company's stock.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the sale, the chief executive officer now directly owns 16,690 shares of the company's stock, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.36% of the company's stock.

Extra Space Storage Trading Up 0.1 %

EXR traded up $0.22 during trading on Tuesday, hitting $154.21. 521,084 shares of the company's stock were exchanged, compared to its average volume of 1,335,994. The stock has a 50 day moving average price of $152.39 and a 200 day moving average price of $163.34. Extra Space Storage Inc. has a 1 year low of $131.02 and a 1 year high of $184.87. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The firm has a market cap of $32.69 billion, a P/E ratio of 40.54, a price-to-earnings-growth ratio of 7.76 and a beta of 0.91.

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 the consensus estimate 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 company had revenue of $821.90 million for the quarter, compared to analyst estimates of $707.34 million. As a group, analysts expect that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.20%. The ex-dividend date is Friday, March 14th. Extra Space Storage's dividend payout ratio (DPR) is 160.40%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Scotiabank raised shares of Extra Space Storage from a "sector underperform" rating to a "sector perform" rating and set a $167.00 target price for the company in a research note on Friday, January 10th. Truist Financial increased their target price on Extra Space Storage from $167.00 to $168.00 and gave the stock a "hold" rating in a research report on Thursday, December 5th. Barclays lowered their price target on Extra Space Storage from $192.00 to $184.00 and set an "overweight" rating for the company in a report on Monday, January 13th. Wells Fargo & Company cut their price objective on shares of Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating on the stock in a report on Friday, February 21st. Finally, StockNews.com upgraded shares of Extra Space Storage from a "sell" rating to a "hold" rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $171.55.

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.