Extra Space Storage Inc. (NYSE:EXR) Shares Bought by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC increased its stake in Extra Space Storage Inc. (NYSE:EXR) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,449 shares of the real estate investment trust’s stock after purchasing an additional 75 shares during the period. Checchi Capital Advisers LLC’s holdings in Extra Space Storage were worth $516,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of EXR. Assenagon Asset Management S.A. lifted its stake in Extra Space Storage by 34.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,985 shares of the real estate investment trust’s stock valued at $718,000 after acquiring an additional 1,028 shares during the period. Pathway Financial Advisers LLC lifted its stake in Extra Space Storage by 17,832.9% during 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 during the period. First Trust Direct Indexing L.P. lifted its stake in Extra Space Storage by 20.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,142 shares of the real estate investment trust’s stock valued at $1,107,000 after acquiring an additional 1,040 shares during the period. HM Payson & Co. lifted its stake in Extra Space Storage by 948.0% during the 3rd quarter. HM Payson & Co. now owns 1,572 shares of the real estate investment trust’s stock valued at $283,000 after acquiring an additional 1,422 shares during the period. Finally, US Bancorp DE lifted its stake in Extra Space Storage by 2.0% during the 3rd quarter. US Bancorp DE now owns 27,929 shares of the real estate investment trust’s stock valued at $5,033,000 after acquiring an additional 552 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $154.05 on Thursday. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87. The firm has a market capitalization of $32.66 billion, a price-to-earnings ratio of 40.33, a PEG ratio of 7.76 and a beta of 0.91. The company has a fifty day simple moving average of $151.94 and a 200-day simple moving average of $163.62. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.93. The business had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. On average, equities analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $1.62 per share. The ex-dividend date is Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.21%. Extra Space Storage’s payout ratio is 169.63%.

Analyst Ratings Changes

Several analysts have commented on the stock. Scotiabank upgraded shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective for the company in a research note on Friday, January 10th. Wells Fargo & Company decreased their price objective on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Truist Financial lifted their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Finally, Barclays cut their target price on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Extra Space Storage has an average rating of “Hold” and a consensus target price of $173.09.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the transaction, the chief executive officer now owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.36% of the company’s stock.

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.