Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Gryphon Financial Partners LLC

Gryphon Financial Partners LLC lowered its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 6.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,171 shares of the real estate investment trust’s stock after selling 203 shares during the quarter. Gryphon Financial Partners LLC’s holdings in Extra Space Storage were worth $474,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of EXR. Golden State Wealth Management LLC acquired a new position in shares of Extra Space Storage during the fourth quarter valued at about $25,000. Ashton Thomas Securities LLC acquired a new position in shares of Extra Space Storage during the third quarter valued at about $33,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Extra Space Storage during the third quarter valued at about $42,000. Quent Capital LLC increased its holdings in shares of Extra Space Storage by 89.0% during the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 154 shares in the last quarter. Finally, Asset Planning Inc acquired a new position in Extra Space Storage in the 4th quarter worth approximately $52,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 in the company, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.36% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EXR. Barclays cut their price target on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Wells Fargo & Company cut their price target on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Truist Financial increased their price target on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Finally, Scotiabank upgraded shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price target on the stock in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Extra Space Storage has a consensus rating of “Hold” and an average price target of $171.55.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $154.02 on Tuesday. The stock has a market capitalization of $32.65 billion, a price-to-earnings ratio of 40.32, a PEG ratio of 7.76 and a beta of 0.91. Extra Space Storage Inc. has a 12 month low of $131.02 and a 12 month high of $184.87. The firm’s 50 day simple moving average is $152.39 and its 200-day simple moving average is $163.34. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.93. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $821.90 million for the quarter, compared to analysts’ expectations of $707.34 million. Analysts expect that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 4.21%. Extra Space Storage’s dividend payout ratio (DPR) is 160.40%.

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.