Orion Portfolio Solutions LLC Has $1.15 Million Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Orion Portfolio Solutions LLC decreased its position in Extra Space Storage Inc. (NYSE:EXR) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,376 shares of the real estate investment trust’s stock after selling 157 shares during the period. Orion Portfolio Solutions LLC’s holdings in Extra Space Storage were worth $1,149,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in EXR. Pathway Financial Advisers LLC raised its holdings in Extra Space Storage by 17,832.9% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust’s stock valued at $363,783,000 after acquiring an additional 2,007,626 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Extra Space Storage by 724.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust’s stock valued at $357,100,000 after acquiring an additional 1,741,320 shares in the last quarter. American Century Companies Inc. raised its holdings in Extra Space Storage by 543.5% in the 2nd quarter. American Century Companies Inc. now owns 397,170 shares of the real estate investment trust’s stock valued at $61,724,000 after acquiring an additional 335,447 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Extra Space Storage by 20.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,877,100 shares of the real estate investment trust’s stock valued at $291,720,000 after acquiring an additional 319,965 shares in the last quarter. Finally, Mizuho Securities USA LLC raised its holdings in Extra Space Storage by 1,664.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 288,094 shares of the real estate investment trust’s stock valued at $51,912,000 after acquiring an additional 271,765 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Buying and Selling at Extra Space Storage

In other news, Director Diane Olmstead sold 3,081 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $164.56, for a total value of $507,009.36. Following the transaction, the director now directly owns 5,877 shares in the company, valued at $967,119.12. This trade represents a 34.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the completion of the transaction, the chief executive officer now owns 24,190 shares in the company, valued at $4,318,398.80. This represents a 23.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Down 0.5 %

Shares of EXR opened at $158.20 on Friday. The firm has a market capitalization of $33.54 billion, a price-to-earnings ratio of 41.41, a PEG ratio of 8.03 and a beta of 0.89. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The business’s fifty day moving average price is $166.56 and its two-hundred day moving average price is $165.38. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). The firm had revenue of $824.80 million during the quarter, compared to the consensus estimate of $826.93 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.02 earnings per share. On average, analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $1.62 dividend. The ex-dividend date is Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a yield of 4.10%. Extra Space Storage’s payout ratio is 169.63%.

Wall Street Analysts Forecast Growth

Several research firms have commented on EXR. Truist Financial increased their target price on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. KeyCorp increased their target price on Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Wells Fargo & Company reissued an “equal weight” rating and issued a $175.00 target price on shares of Extra Space Storage in a report on Monday, October 21st. Finally, Evercore ISI dropped their target price on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a report on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $171.43.

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.