Tyche Wealth Partners LLC Purchases New Stake in Extra Space Storage Inc. (NYSE:EXR)

Tyche Wealth Partners LLC purchased a new stake in shares of Extra Space Storage Inc. (NYSE:EXR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,858 shares of the real estate investment trust’s stock, valued at approximately $298,000.

Several other institutional investors also recently added to or reduced their stakes in EXR. Vanguard Group Inc. lifted its holdings in Extra Space Storage by 55.7% during the third quarter. Vanguard Group Inc. now owns 33,686,341 shares of the real estate investment trust’s stock valued at $4,095,585,000 after purchasing an additional 12,055,172 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Extra Space Storage by 599.8% during the third quarter. JPMorgan Chase & Co. now owns 3,345,787 shares of the real estate investment trust’s stock valued at $406,781,000 after purchasing an additional 2,867,657 shares during the last quarter. Norges Bank purchased a new stake in Extra Space Storage during the fourth quarter valued at about $380,823,000. Diamond Hill Capital Management Inc. purchased a new stake in Extra Space Storage during the third quarter valued at about $173,621,000. Finally, First Eagle Investment Management LLC lifted its holdings in Extra Space Storage by 233,362.8% during the third quarter. First Eagle Investment Management LLC now owns 1,323,734 shares of the real estate investment trust’s stock valued at $160,940,000 after purchasing an additional 1,323,167 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Insider Buying and Selling

In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of Extra Space Storage stock in a transaction on Thursday, March 7th. The shares were 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 can be accessed through this link. In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the transaction, the executive vice president now directly owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Samrat Sondhi sold 2,048 shares of the business’s stock in a transaction 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 transaction, the chief marketing officer now directly owns 94,126 shares in the company, valued at $13,785,693.96. The disclosure for this sale can be found here. Insiders have sold a total of 3,532 shares of company stock valued at $514,819 over the last three months. 1.36% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Raymond James reaffirmed an “outperform” rating and set a $160.00 price objective on shares of Extra Space Storage in a report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Extra Space Storage in a report on Tuesday, January 30th. They issued a “hold” rating and a $141.00 price target on the stock. TheStreet upgraded shares of Extra Space Storage from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. Finally, Truist Financial raised their price objective on shares of Extra Space Storage from $138.00 to $152.00 and gave the company a “hold” rating in a research report on Thursday, December 28th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $150.17.

Extra Space Storage Trading Up 0.2 %

Shares of Extra Space Storage stock opened at $136.10 on Thursday. Extra Space Storage Inc. has a 1 year low of $101.19 and a 1 year high of $164.99. The firm has a market cap of $28.80 billion, a PE ratio of 27.55, a PEG ratio of 3.34 and a beta of 0.74. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.30 and a quick ratio of 0.30. The company has a 50 day simple moving average of $142.98 and a two-hundred day simple moving average of $137.45.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.01). The company had revenue of $797.77 million for the quarter, compared to the consensus estimate of $778.05 million. Extra Space Storage had a net margin of 31.81% and a return on equity of 8.34%. The company’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.09 earnings per share. Analysts expect that Extra Space Storage Inc. will post 8.05 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.76%. The ex-dividend date was Thursday, March 14th. Extra Space Storage’s payout ratio is 131.17%.

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.