Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Demars Financial Group LLC

Demars Financial Group LLC decreased its holdings in Extra Space Storage Inc. (NYSE:EXR) by 93.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,726 shares of the real estate investment trust’s stock after selling 25,905 shares during the quarter. Demars Financial Group LLC’s holdings in Extra Space Storage were worth $277,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Cetera Trust Company N.A bought a new stake in Extra Space Storage in the fourth quarter valued at about $275,000. Handelsbanken Fonder AB increased its holdings in Extra Space Storage by 18.0% in the fourth quarter. Handelsbanken Fonder AB now owns 89,450 shares of the real estate investment trust’s stock valued at $14,342,000 after buying an additional 13,669 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Extra Space Storage by 1.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 56,083 shares of the real estate investment trust’s stock valued at $8,992,000 after buying an additional 674 shares during the last quarter. Carmel Capital Partners LLC increased its holdings in Extra Space Storage by 8.2% in the fourth quarter. Carmel Capital Partners LLC now owns 3,978 shares of the real estate investment trust’s stock valued at $638,000 after buying an additional 302 shares during the last quarter. Finally, abrdn plc increased its holdings in Extra Space Storage by 141.3% in the fourth quarter. abrdn plc now owns 231,409 shares of the real estate investment trust’s stock valued at $37,102,000 after buying an additional 135,497 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analyst Ratings Changes

EXR has been the subject of several recent research reports. TheStreet raised Extra Space Storage from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Raymond James reaffirmed an “outperform” rating and set a $160.00 target price on shares of Extra Space Storage in a report on Thursday, March 28th. Barclays assumed coverage on Extra Space Storage in a research report on Wednesday, March 27th. They set an “overweight” rating and a $157.00 price objective for the company. Scotiabank assumed coverage on Extra Space Storage in a research report on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 price objective for the company. Finally, Truist Financial boosted their price objective on Extra Space Storage from $138.00 to $152.00 and gave the stock a “hold” rating in a research report on Thursday, December 28th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Extra Space Storage has a consensus rating of “Hold” and a consensus target price of $150.17.

Extra Space Storage Stock Down 0.3 %

NYSE:EXR traded down $0.38 during trading hours on Wednesday, hitting $132.90. 29,337 shares of the stock traded hands, compared to its average volume of 1,161,461. The firm has a 50 day moving average price of $142.28 and a 200 day moving average price of $138.03. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.71. Extra Space Storage Inc. has a fifty-two week low of $101.19 and a fifty-two week high of $164.99. The firm has a market cap of $28.12 billion, a price-to-earnings ratio of 26.98, a PEG ratio of 3.26 and a beta of 0.74.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The company had revenue of $797.77 million during the quarter, compared to analyst estimates of $778.05 million. During the same period last year, the company posted $2.09 earnings per share. The company’s revenue was up 57.4% compared to the same quarter last year. Equities research analysts anticipate that Extra Space Storage Inc. will post 8.05 earnings per share for the current year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.88%. The ex-dividend date of this dividend was Thursday, March 14th. Extra Space Storage’s payout ratio is 131.17%.

Insiders Place Their Bets

In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of the company’s stock in a transaction dated 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 sale, the chief marketing officer now directly owns 94,126 shares in the company, valued at $13,785,693.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the stock in a transaction dated Thursday, March 7th. The shares were 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 owns 37,028 shares of the company’s stock, valued at $5,369,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction dated Monday, March 4th. The stock was 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 approximately $13,785,693.96. The disclosure for this sale can be found here. Insiders have sold 3,532 shares of company stock valued at $514,819 over the last three months. 1.36% of the stock is currently owned by insiders.

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.