Charles Schwab Investment Management Inc. Grows Holdings in Extra Space Storage Inc. (NYSE:EXR)

Charles Schwab Investment Management Inc. increased its holdings in Extra Space Storage Inc. (NYSE:EXR) by 2.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,198,631 shares of the real estate investment trust’s stock after purchasing an additional 54,393 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.04% of Extra Space Storage worth $352,507,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in EXR. Commonwealth Equity Services LLC raised its holdings in Extra Space Storage by 31.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 15,079 shares of the real estate investment trust’s stock valued at $1,833,000 after buying an additional 3,574 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Extra Space Storage by 28.4% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 19,891 shares of the real estate investment trust’s stock worth $2,418,000 after acquiring an additional 4,398 shares in the last quarter. Raymond James & Associates increased its stake in shares of Extra Space Storage by 80.5% in the 3rd quarter. Raymond James & Associates now owns 165,349 shares of the real estate investment trust’s stock worth $20,103,000 after acquiring an additional 73,754 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in shares of Extra Space Storage in the 3rd quarter worth about $325,000. Finally, Forsta AP Fonden increased its stake in shares of Extra Space Storage by 7.8% in the 3rd quarter. Forsta AP Fonden now owns 27,600 shares of the real estate investment trust’s stock worth $3,356,000 after acquiring an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Activity at Extra Space Storage

In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 37,028 shares of the company’s stock, valued at $5,369,060. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business’s 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 sale, the executive vice president now owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Samrat Sondhi sold 2,048 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief marketing officer now owns 94,126 shares of the company’s stock, valued at $13,785,693.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,532 shares of company stock worth $514,819. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Down 1.4 %

Shares of EXR stock traded down $1.94 during trading hours on Wednesday, reaching $141.36. The company had a trading volume of 170,854 shares, compared to its average volume of 1,173,474. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.30 and a current ratio of 0.15. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $164.99. The company has a market capitalization of $29.93 billion, a P/E ratio of 31.46, a price-to-earnings-growth ratio of 3.48 and a beta of 0.76. The stock’s fifty day simple moving average is $141.69 and its 200 day simple moving average is $139.45.

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 for the quarter, missing the consensus estimate of $2.03 by ($1.01). The business 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 29.10% and a return on equity of 6.76%. The firm’s revenue was up 57.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.09 EPS. As a group, sell-side analysts expect that Extra Space Storage Inc. will post 8.05 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend was Thursday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is 144.32%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Extra Space Storage in a research report on Tuesday, January 30th. They set a “hold” rating and a $141.00 price objective on the stock. Scotiabank assumed coverage on shares of Extra Space Storage in a research report on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 price objective on the stock. Barclays assumed coverage on shares of Extra Space Storage in a research report on Wednesday, March 27th. They set an “overweight” rating and a $157.00 price objective on the stock. StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. Finally, Evercore ISI cut their target price on shares of Extra Space Storage from $145.00 to $139.00 in a report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $149.67.

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.