Glassman Wealth Services Trims Position in Extra Space Storage Inc. (NYSE:EXR)

Glassman Wealth Services decreased its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 29.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185 shares of the real estate investment trust’s stock after selling 77 shares during the quarter. Glassman Wealth Services’ holdings in Extra Space Storage were worth $30,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Simplicity Solutions LLC bought a new stake in shares of Extra Space Storage during the third quarter valued at approximately $202,000. Valeo Financial Advisors LLC purchased a new stake in shares of Extra Space Storage in the 3rd quarter worth $224,000. Commonwealth Equity Services LLC lifted its holdings in shares of Extra Space Storage by 31.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 15,079 shares of the real estate investment trust’s stock worth $1,833,000 after buying an additional 3,574 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Extra Space Storage by 46.0% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 43,156 shares of the real estate investment trust’s stock worth $5,247,000 after buying an additional 13,600 shares in the last quarter. Finally, Cigna Investments Inc. New increased its stake in shares of Extra Space Storage by 37.6% during the third quarter. Cigna Investments Inc. New now owns 2,224 shares of the real estate investment trust’s stock valued at $270,000 after buying an additional 608 shares during the period. 99.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. The Goldman Sachs Group increased their target price on shares of Extra Space Storage from $168.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Raymond James reiterated an “outperform” rating and set a $160.00 price objective on shares of Extra Space Storage in a research note on Thursday, March 28th. TheStreet raised shares of Extra Space Storage from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Deutsche Bank Aktiengesellschaft initiated coverage on Extra Space Storage in a report on Tuesday, January 30th. They set a “hold” rating and a $141.00 target price for the company. Finally, Wells Fargo & Company lifted their price target on Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $149.67.

Insider Transactions at Extra Space Storage

In related news, 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 completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CMO Samrat Sondhi sold 2,048 shares of the firm’s 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 sale, the chief marketing officer now directly owns 94,126 shares of the company’s stock, valued at $13,785,693.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business’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 transaction, the executive vice president now directly owns 37,028 shares of the company’s stock, valued at $5,369,060. The disclosure for this sale can be found here. Insiders have sold 3,532 shares of company stock worth $514,819 over the last 90 days. 1.36% of the stock is currently owned by company insiders.

Extra Space Storage Stock Performance

EXR stock traded up $1.09 during midday trading on Thursday, reaching $139.79. The stock had a trading volume of 1,586,453 shares, compared to its average volume of 1,189,539. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a fifty day simple moving average of $141.55 and a two-hundred day simple moving average of $138.54. The stock has a market cap of $29.58 billion, a PE ratio of 31.20, a P/E/G ratio of 3.30 and a beta of 0.76. Extra Space Storage Inc. has a 52-week low of $101.19 and a 52-week high of $164.99.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data 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). Extra Space Storage had a return on equity of 7.28% and a net margin of 29.10%. The firm had revenue of $797.77 million during the quarter, compared to analysts’ expectations of $778.05 million. During the same quarter in the previous year, the business earned $2.09 earnings per share. The company’s revenue for the quarter was up 57.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Extra Space Storage Inc. will post 8.05 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $1.62 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.64%. Extra Space Storage’s payout ratio is currently 144.32%.

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.