Wedge Capital Management L L P NC Sells 1,769 Shares of Extra Space Storage Inc. (NYSE:EXR)

Wedge Capital Management L L P NC trimmed its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 8.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,032 shares of the real estate investment trust’s stock after selling 1,769 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Extra Space Storage were worth $2,891,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Zions Bancorporation N.A. lifted its position in shares of Extra Space Storage by 241.9% during the third quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 150 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Extra Space Storage by 162.5% during the third quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 143 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Extra Space Storage during the third quarter worth $32,000. Anchor Investment Management LLC bought a new stake in shares of Extra Space Storage during the fourth quarter worth $35,000. Finally, Bruce G. Allen Investments LLC bought a new stake in shares of Extra Space Storage during the fourth quarter worth $41,000. 99.11% of the stock is currently owned by institutional investors.

Insider Transactions at Extra Space Storage

In other news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the transaction, the executive vice president now directly owns 37,028 shares in the company, valued at approximately $5,369,060. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $145.00, for a total transaction of $195,750.00. Following the transaction, the executive vice president now owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $146.46, for a total value of $299,950.08. Following the transaction, the chief marketing officer now directly owns 94,126 shares in the company, valued at approximately $13,785,693.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,532 shares of company stock worth $514,819. 1.36% of the stock is currently owned by company insiders.

Extra Space Storage Trading Up 1.0 %

Shares of EXR stock opened at $134.64 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.30 and a quick ratio of 0.30. Extra Space Storage Inc. has a 1-year low of $101.19 and a 1-year high of $164.99. The company has a market cap of $28.49 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 3.27 and a beta of 0.74. The stock has a 50 day simple moving average of $142.19 and a 200-day simple moving average of $138.01.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). The business had revenue of $797.77 million for the quarter, compared to analysts’ expectations of $778.05 million. Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The business’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.09 earnings per share. On average, equities research analysts expect that Extra Space Storage Inc. will post 8.05 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend was Thursday, March 14th. Extra Space Storage’s dividend payout ratio is presently 131.17%.

Analysts Set New Price Targets

EXR has been the subject of several recent research reports. Wells Fargo & Company lifted their price objective on Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Raymond James restated an “outperform” rating and issued a $160.00 price objective on shares of Extra Space Storage in a report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft started coverage on Extra Space Storage in a research note on Tuesday, January 30th. They issued a “hold” rating and a $141.00 target price on the stock. Scotiabank started coverage on Extra Space Storage in a research note on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 target price on the stock. Finally, TheStreet upgraded Extra Space Storage from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $150.17.

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.