SMART Wealth LLC Sells 2,620 Shares of Extra Space Storage Inc. (NYSE:EXR)

SMART Wealth LLC lessened its stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 53.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,325 shares of the real estate investment trust's stock after selling 2,620 shares during the period. SMART Wealth LLC's holdings in Extra Space Storage were worth $348,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tidal Investments LLC increased its stake in shares of Extra Space Storage by 34.4% in the third quarter. Tidal Investments LLC now owns 12,640 shares of the real estate investment trust's stock worth $2,278,000 after buying an additional 3,234 shares during the last quarter. Swedbank AB boosted its holdings in Extra Space Storage by 4.5% in the third quarter. Swedbank AB now owns 243,130 shares of the real estate investment trust's stock worth $43,810,000 after purchasing an additional 10,408 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Extra Space Storage by 724.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust's stock worth $357,100,000 after purchasing an additional 1,741,320 shares during the period. Duff & Phelps Investment Management Co. boosted its holdings in Extra Space Storage by 9.5% in the third quarter. Duff & Phelps Investment Management Co. now owns 35,503 shares of the real estate investment trust's stock worth $6,397,000 after purchasing an additional 3,093 shares during the period. Finally, Brown Financial Advisors boosted its holdings in Extra Space Storage by 69.1% in the third quarter. Brown Financial Advisors now owns 9,134 shares of the real estate investment trust's stock worth $1,646,000 after purchasing an additional 3,731 shares during the period. Institutional investors own 99.11% of the company's stock.

Insider Transactions at Extra Space Storage

In related news, Director Diane Olmstead sold 3,081 shares of the company's stock in a transaction on Friday, November 15th. The shares were 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 directly owns 5,877 shares in the company, valued at $967,119.12. This represents a 34.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the transaction, the chief executive officer now 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 disclosure for this sale can be found here. 1.36% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EXR. StockNews.com upgraded Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Tuesday, January 28th. Wells Fargo & Company reissued an "equal weight" rating and issued a $175.00 price objective on shares of Extra Space Storage in a research note on Monday, October 21st. Barclays dropped their target price on shares of Extra Space Storage from $192.00 to $184.00 and set an "overweight" rating on the stock in a report on Monday, January 13th. Truist Financial boosted their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a "hold" rating in a report on Thursday, December 5th. Finally, Evercore ISI cut their price target on shares of Extra Space Storage from $170.00 to $168.00 and set an "in-line" rating on the stock in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Extra Space Storage has a consensus rating of "Hold" and a consensus price target of $174.00.

Extra Space Storage Stock Up 0.1 %

EXR stock traded up $0.10 during trading hours on Tuesday, hitting $156.66. The company's stock had a trading volume of 630,067 shares, compared to its average volume of 1,265,861. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $33.21 billion, a PE ratio of 41.01, a price-to-earnings-growth ratio of 7.77 and a beta of 0.91. Extra Space Storage Inc. has a 12 month low of $131.02 and a 12 month high of $184.87. The stock has a 50 day moving average price of $152.80 and a two-hundred day moving average price of $164.17.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend was Monday, December 16th. Extra Space Storage's dividend payout ratio is 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.