Janney Montgomery Scott LLC Purchases 21,574 Shares of Extra Space Storage Inc. (NYSE:EXR)

Janney Montgomery Scott LLC grew its position in shares of Extra Space Storage Inc. (NYSE:EXRFree Report) by 33.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 86,413 shares of the real estate investment trust’s stock after purchasing an additional 21,574 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Extra Space Storage were worth $13,855,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Extra Space Storage by 55.7% during the 3rd quarter. Vanguard Group Inc. now owns 33,686,341 shares of the real estate investment trust’s stock valued at $4,095,585,000 after purchasing an additional 12,055,172 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Extra Space Storage by 8.9% during the fourth quarter. Principal Financial Group Inc. now owns 7,083,752 shares of the real estate investment trust’s stock valued at $1,135,738,000 after acquiring an additional 577,918 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Extra Space Storage by 599.8% in the third quarter. JPMorgan Chase & Co. now owns 3,345,787 shares of the real estate investment trust’s stock worth $406,781,000 after acquiring an additional 2,867,657 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Extra Space Storage by 6.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,219,030 shares of the real estate investment trust’s stock valued at $516,107,000 after acquiring an additional 186,940 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in Extra Space Storage by 8.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 2,724,293 shares of the real estate investment trust’s stock valued at $436,786,000 after purchasing an additional 211,395 shares during the period. 99.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. Raymond James reissued an “outperform” rating and set a $160.00 price objective on shares of Extra Space Storage in a research note on Thursday, March 28th. Evercore ISI decreased their target price on shares of Extra Space Storage from $145.00 to $139.00 in a research note on Wednesday, May 1st. Finally, Barclays initiated coverage on Extra Space Storage in a research report on Wednesday, March 27th. They set an “overweight” rating and a $157.00 price objective for the company. Two 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $149.67.

View Our Latest Report on Extra Space Storage

Extra Space Storage Trading Up 0.4 %

Shares of EXR stock opened at $151.89 on Friday. The stock has a market capitalization of $32.16 billion, a P/E ratio of 33.83, a P/E/G ratio of 3.71 and a beta of 0.76. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.73. The firm’s 50 day moving average is $142.33 and its 200 day moving average is $141.37. Extra Space Storage Inc. has a 12-month low of $101.19 and a 12-month high of $164.99.

Extra Space Storage (NYSE:EXRGet Free Report) last released its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing the consensus estimate 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 net margin of 29.10% and a return on equity of 6.76%. Extra Space Storage’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.09 EPS. Research analysts expect that Extra Space Storage Inc. will post 8.05 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $1.62 dividend. The ex-dividend date was Thursday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.27%. Extra Space Storage’s dividend payout ratio is currently 144.32%.

Insiders Place Their Bets

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

Extra Space Storage Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Extra Space Storage (NYSE:EXR)

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