Vestmark Advisory Solutions Inc. Increases Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Vestmark Advisory Solutions Inc. grew its holdings in Extra Space Storage Inc. (NYSE:EXR) by 30.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,647 shares of the real estate investment trust’s stock after buying an additional 845 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Extra Space Storage were worth $585,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in EXR. Zions Bancorporation N.A. lifted its holdings in Extra Space Storage by 241.9% in the third quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 150 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Extra Space Storage by 162.5% in the third quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 143 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Extra Space Storage during the 3rd quarter valued at $32,000. Anchor Investment Management LLC bought a new position in Extra Space Storage during the fourth quarter valued at about $35,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of Extra Space Storage in the fourth quarter worth about $41,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on EXR shares. TheStreet raised Extra Space Storage from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. The Goldman Sachs Group boosted their target price on Extra Space Storage from $168.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Barclays initiated coverage on Extra Space Storage in a research note on Wednesday, March 27th. They issued an “overweight” rating and a $157.00 price objective on the stock. Evercore ISI reduced their target price on shares of Extra Space Storage from $145.00 to $139.00 in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company raised their target price on Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $149.67.

Extra Space Storage Trading Up 0.2 %

NYSE:EXR traded up $0.32 during trading hours on Monday, reaching $142.19. 96,575 shares of the company were exchanged, compared to its average volume of 1,174,327. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.15 and a quick ratio of 0.30. Extra Space Storage Inc. has a 52-week low of $101.19 and a 52-week high of $164.99. The stock has a 50 day simple moving average of $141.56 and a 200 day simple moving average of $139.00. The firm has a market cap of $30.09 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 3.48 and a beta of 0.76.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.01). Extra Space Storage had a return on equity of 6.76% and a net margin of 29.10%. The firm had revenue of $797.77 million during the quarter, compared to analyst estimates of $778.05 million. During the same quarter in the previous year, the business earned $2.09 earnings per share. The business’s quarterly revenue was up 57.4% compared to the same quarter last year. As a group, analysts predict that Extra Space Storage Inc. will post 8.05 EPS for the current year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $1.62 dividend. The ex-dividend date was Thursday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.56%. Extra Space Storage’s payout ratio is presently 144.32%.

Insiders Place Their Bets

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $145.00, for a total value of $195,750.00. Following the transaction, the executive vice president now directly owns 37,028 shares of the company’s stock, valued at $5,369,060. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CMO Samrat Sondhi sold 2,048 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the completion of the transaction, the chief marketing officer now directly owns 94,126 shares of the company’s stock, valued at $13,785,693.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $145.00, for a total value of $195,750.00. Following the completion of the transaction, the executive vice president now directly owns 37,028 shares in the company, valued at approximately $5,369,060. The disclosure for this sale can be found here. Insiders have sold a total of 3,532 shares of company stock worth $514,819 in the last 90 days. Company insiders own 1.36% of the company’s stock.

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.