Sound View Wealth Advisors Group LLC Reduces Position in Extra Space Storage Inc. (NYSE:EXR)

Sound View Wealth Advisors Group LLC lessened its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 77.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,906 shares of the real estate investment trust's stock after selling 6,419 shares during the quarter. Sound View Wealth Advisors Group LLC's holdings in Extra Space Storage were worth $285,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Oregon Public Employees Retirement Fund increased its stake in Extra Space Storage by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,160 shares of the real estate investment trust's stock worth $2,717,000 after acquiring an additional 66 shares during the last quarter. Wedge Capital Management L L P NC lifted its stake in shares of Extra Space Storage by 1.3% in the fourth quarter. Wedge Capital Management L L P NC now owns 5,138 shares of the real estate investment trust's stock worth $769,000 after buying an additional 68 shares in the last quarter. Lindbrook Capital LLC raised its position in Extra Space Storage by 14.9% in the 4th quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust's stock worth $78,000 after buying an additional 68 shares during the last quarter. Checchi Capital Advisers LLC boosted its holdings in Extra Space Storage by 2.2% in the fourth quarter. Checchi Capital Advisers LLC now owns 3,449 shares of the real estate investment trust's stock worth $516,000 after purchasing an additional 75 shares during the last quarter. Finally, Aptus Capital Advisors LLC increased its holdings in Extra Space Storage by 5.5% during the third quarter. Aptus Capital Advisors LLC now owns 1,570 shares of the real estate investment trust's stock valued at $283,000 after buying an additional 82 shares during the last quarter. Institutional investors own 99.11% of the company's stock.

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Extra Space Storage Stock Performance

EXR traded up $0.53 during trading on Friday, reaching $145.03. 1,543,783 shares of the company were exchanged, compared to its average volume of 1,360,696. 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 50 day moving average of $153.06 and a 200 day moving average of $162.43. The stock has a market cap of $30.75 billion, a P/E ratio of 37.97, a PEG ratio of 7.76 and a beta of 0.90. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87.

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 earnings per share for the quarter, topping 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 business had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. On average, sell-side analysts forecast 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. Shareholders of record on Friday, March 14th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.47%. The ex-dividend date is Friday, March 14th. Extra Space Storage's dividend payout ratio (DPR) is presently 160.40%.

Insider Activity at Extra Space Storage

In other news, EVP William N. Springer sold 1,220 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the sale, the executive vice president now directly owns 20,158 shares of the company's stock, valued at approximately $3,077,320.28. This represents a 5.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on EXR shares. Truist Financial upped their price objective on Extra Space Storage from $167.00 to $168.00 and gave the stock a "hold" rating in a report on Thursday, December 5th. The Goldman Sachs Group restated a "buy" rating on shares of Extra Space Storage in a report on Thursday, March 6th. Barclays dropped their price target on Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating on the stock in a research note on Wednesday. StockNews.com lowered shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Friday, March 7th. Finally, Wells Fargo & Company decreased 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, six have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $171.09.

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.