Advisory Alpha LLC Has $217,000 Position in Extra Space Storage Inc $EXR

Advisory Alpha LLC reduced its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 5.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,474 shares of the real estate investment trust’s stock after selling 79 shares during the period. Advisory Alpha LLC’s holdings in Extra Space Storage were worth $217,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. D.A. Davidson & CO. grew its stake in shares of Extra Space Storage by 7.2% in the 1st quarter. D.A. Davidson & CO. now owns 1,895 shares of the real estate investment trust’s stock valued at $281,000 after buying an additional 127 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Extra Space Storage by 1.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 22,222 shares of the real estate investment trust’s stock valued at $3,285,000 after acquiring an additional 398 shares in the last quarter. IFP Advisors Inc lifted its stake in Extra Space Storage by 1,376.5% in the first quarter. IFP Advisors Inc now owns 1,698 shares of the real estate investment trust’s stock valued at $252,000 after acquiring an additional 1,583 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Extra Space Storage in the first quarter worth approximately $1,472,000. Finally, Janney Montgomery Scott LLC grew its position in Extra Space Storage by 6.9% in the second quarter. Janney Montgomery Scott LLC now owns 6,360 shares of the real estate investment trust’s stock worth $938,000 after acquiring an additional 408 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EXR has been the topic of a number of recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Extra Space Storage in a report on Wednesday, October 8th. Wells Fargo & Company raised shares of Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 target price on the stock in a research report on Tuesday, August 26th. The Goldman Sachs Group restated a “neutral” rating and set a $146.00 target price (down from $169.00) on shares of Extra Space Storage in a report on Thursday, August 21st. Barclays decreased their price target on 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. Finally, Wall Street Zen raised Extra Space Storage from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Extra Space Storage currently has a consensus rating of “Hold” and an average price target of $148.64.

Insider Activity at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $141.41, for a total value of $1,060,575.00. Following the completion of the sale, the chief executive officer directly owned 19,760 shares of the company’s stock, valued at approximately $2,794,261.60. This represents a 27.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.96% of the stock is currently owned by company insiders.

Extra Space Storage Stock Down 4.8%

Extra Space Storage stock opened at $134.93 on Friday. 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. The firm has a fifty day moving average price of $144.05 and a two-hundred day moving average price of $145.28. The firm has a market cap of $28.64 billion, a price-to-earnings ratio of 30.12, a P/E/G ratio of 2.56 and a beta of 1.11.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.02. Extra Space Storage had a return on equity of 6.53% and a net margin of 28.40%.The company had revenue of $838.53 million for the quarter, compared to the consensus estimate of $736.26 million. During the same period last year, the business posted $2.07 earnings per share. The firm’s revenue was up 4.1% compared to the same quarter last year. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. As a group, 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 declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a dividend of $1.62 per share. The ex-dividend date was Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.8%. Extra Space Storage’s payout ratio is 140.56%.

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.