Extra Space Storage Inc $EXR Stock Position Reduced by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. cut its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 5.7% during the second quarter, HoldingsChannel.com reports. The firm owned 5,892 shares of the real estate investment trust’s stock after selling 358 shares during the period. Atria Wealth Solutions Inc.’s holdings in Extra Space Storage were worth $869,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. GKV Capital Management Co. Inc. bought a new position in shares of Extra Space Storage during the 1st quarter valued at $29,000. Chung Wu Investment Group LLC bought a new position in shares of Extra Space Storage during the 2nd quarter valued at $29,000. Zions Bancorporation National Association UT bought a new position in shares of Extra Space Storage during the 1st quarter valued at $50,000. Golden State Wealth Management LLC raised its holdings in shares of Extra Space Storage by 147.0% during the 1st quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 241 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in shares of Extra Space Storage during the 2nd quarter valued at $75,000. 99.11% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred 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 sale, the chief executive officer directly owned 19,760 shares in the company, valued at $2,794,261.60. This trade represents a 27.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.96% of the stock is owned by company insiders.

Extra Space Storage Stock Performance

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

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

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a $1.62 dividend. The ex-dividend date was Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.3%. Extra Space Storage’s dividend payout ratio (DPR) is 140.56%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Truist Financial cut their price target on shares of Extra Space Storage from $158.00 to $150.00 and set a “hold” rating on the stock in a report on Tuesday, August 19th. Royal Bank Of Canada cut their target price on shares of Extra Space Storage from $160.00 to $148.00 and set a “sector perform” rating for the company in a research note on Monday, August 4th. Citigroup cut their target price on shares of Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Friday, August 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Extra Space Storage in a research note on Wednesday, October 8th. Finally, Barclays dropped their price objective on shares of Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $148.64.

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.