Envestnet Portfolio Solutions Inc. Acquires 3,117 Shares of Extra Space Storage Inc. (NYSE:EXR)

Envestnet Portfolio Solutions Inc. raised its holdings in Extra Space Storage Inc. (NYSE:EXR) by 33.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,555 shares of the real estate investment trust’s stock after buying an additional 3,117 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Extra Space Storage were worth $1,878,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new stake in shares of Extra Space Storage in the 4th quarter worth approximately $25,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Extra Space Storage in the 3rd quarter worth approximately $42,000. Quent Capital LLC grew its position in shares of Extra Space Storage by 89.0% in the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 154 shares during the last quarter. Asset Planning Inc bought a new stake in shares of Extra Space Storage in the 4th quarter worth approximately $52,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Extra Space Storage in the 4th quarter worth approximately $54,000. 99.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Joseph J. Bonner sold 672 shares of Extra Space Storage stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the sale, the director now owns 4,557 shares of the company’s stock, valued at $679,448.70. The trade was a 12.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $1,110,075.00. Following the sale, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at $2,470,286.90. This represents a 31.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,392 shares of company stock valued at $1,396,515 over the last 90 days. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Down 0.8 %

Shares of NYSE:EXR opened at $145.67 on Friday. The stock has a market capitalization of $30.88 billion, a price-to-earnings ratio of 38.13, a PEG ratio of 7.76 and a beta of 0.90. The stock has a fifty day simple moving average of $152.82 and a two-hundred day simple moving average of $161.38. Extra Space Storage Inc. has a 12-month low of $131.02 and a 12-month high of $184.87. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR) last posted its earnings results 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. The business had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. On average, research analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s payout ratio is currently 160.40%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on EXR shares. Truist Financial lifted their price objective on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Scotiabank lowered their target price on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 5th. StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Friday, March 7th. The Goldman Sachs Group restated a “buy” rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Finally, Royal Bank of Canada lowered their target price on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Extra Space Storage currently has an average rating of “Hold” and an average target price of $171.09.

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.