Sagespring Wealth Partners LLC Has $296,000 Stock Holdings in Extra Space Storage Inc $EXR

Sagespring Wealth Partners LLC decreased its position in shares of Extra Space Storage Inc (NYSE:EXR) by 14.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,010 shares of the real estate investment trust’s stock after selling 329 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Extra Space Storage were worth $296,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. RFG Advisory LLC acquired a new position in Extra Space Storage during the second quarter worth $532,000. Naviter Wealth LLC increased its position in shares of Extra Space Storage by 10.4% during the second quarter. Naviter Wealth LLC now owns 15,070 shares of the real estate investment trust’s stock worth $2,222,000 after acquiring an additional 1,425 shares in the last quarter. NorthRock Partners LLC raised its holdings in shares of Extra Space Storage by 123.2% in the 2nd quarter. NorthRock Partners LLC now owns 4,756 shares of the real estate investment trust’s stock worth $701,000 after acquiring an additional 2,625 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in Extra Space Storage by 44.9% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,046 shares of the real estate investment trust’s stock valued at $596,000 after acquiring an additional 1,254 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Extra Space Storage by 3.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 22,927 shares of the real estate investment trust’s stock valued at $3,451,000 after purchasing an additional 705 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wall Street Zen upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Barclays dropped their price objective on Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Truist Financial reduced their target price on shares of Extra Space Storage from $158.00 to $150.00 and set a “hold” rating for the company in a research note on Tuesday, August 19th. UBS Group dropped their price target on shares of Extra Space Storage from $169.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday, September 16th. Finally, Citigroup reduced their price objective on shares of Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Friday, August 22nd. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $148.64.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $141.41, for a total value of $1,060,575.00. Following the completion of the transaction, the chief executive officer directly owned 19,760 shares of the company’s stock, valued at $2,794,261.60. This trade represents a 27.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.96% of the stock is currently owned by insiders.

Extra Space Storage Trading Down 0.2%

Shares of EXR opened at $151.66 on Friday. The business has a 50-day moving average of $142.23 and a 200 day moving average of $144.44. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $175.57. The firm has a market cap of $32.19 billion, a P/E ratio of 32.90, a price-to-earnings-growth ratio of 2.74 and a beta of 1.11. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.01). The business had revenue of $841.62 million during the quarter, compared to analysts’ expectations of $719.43 million. Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.06 earnings per share. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. As a group, research analysts forecast that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $1.62 dividend. The ex-dividend date was Monday, September 15th. This represents a $6.48 annualized dividend and a yield of 4.3%. Extra Space Storage’s dividend payout ratio is currently 140.56%.

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.