Courier Capital LLC Sells 2,095 Shares of Extra Space Storage Inc. (NYSE:EXR)

Courier Capital LLC decreased its stake in Extra Space Storage Inc. (NYSE:EXR) by 7.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,837 shares of the real estate investment trust’s stock after selling 2,095 shares during the period. Courier Capital LLC’s holdings in Extra Space Storage were worth $4,142,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Vert Asset Management LLC increased its holdings in shares of Extra Space Storage by 15.7% in the 4th quarter. Vert Asset Management LLC now owns 85,522 shares of the real estate investment trust’s stock worth $13,712,000 after buying an additional 11,612 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Extra Space Storage by 15.2% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 20,721 shares of the real estate investment trust’s stock valued at $3,322,000 after purchasing an additional 2,730 shares during the last quarter. CVA Family Office LLC bought a new position in shares of Extra Space Storage during the 4th quarter valued at $148,000. LVW Advisors LLC bought a new position in shares of Extra Space Storage during the 4th quarter valued at $274,000. Finally, Whittier Trust Co. grew its holdings in shares of Extra Space Storage by 4.5% during the 4th quarter. Whittier Trust Co. now owns 1,656 shares of the real estate investment trust’s stock valued at $266,000 after purchasing an additional 72 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on EXR shares. The Goldman Sachs Group increased their target price on shares of Extra Space Storage from $168.00 to $187.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Wells Fargo & Company cut their price target on shares of Extra Space Storage from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, March 4th. Scotiabank initiated coverage on shares of Extra Space Storage in a report on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 price target on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Extra Space Storage in a report on Tuesday, January 30th. They issued a “hold” rating and a $141.00 price target on the stock. Finally, Truist Financial raised their price target on shares of Extra Space Storage from $138.00 to $152.00 and gave the stock a “hold” rating in a report on Thursday, December 28th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Extra Space Storage currently has an average rating of “Hold” and an average target price of $149.92.

Extra Space Storage Trading Up 4.5 %

Shares of NYSE EXR opened at $146.75 on Thursday. Extra Space Storage Inc. has a 1 year low of $101.19 and a 1 year high of $165.85. The stock has a market cap of $31.05 billion, a P/E ratio of 29.71, a price-to-earnings-growth ratio of 3.45 and a beta of 0.74. The firm has a 50-day moving average of $143.48 and a 200 day moving average of $135.40. 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 (NYSE:EXR) last issued its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). Extra Space Storage had a net margin of 31.81% and a return on equity of 8.34%. The business had revenue of $797.77 million for the quarter, compared to analysts’ expectations of $778.05 million. During the same period last year, the business earned $2.09 earnings per share. The company’s revenue was up 57.4% on a year-over-year basis. As a group, sell-side analysts expect that Extra Space Storage Inc. will post 8.04 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.42%. Extra Space Storage’s dividend payout ratio (DPR) is currently 131.17%.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of the firm’s stock in a transaction dated 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 sale, the chief marketing officer now directly owns 94,126 shares in the company, valued at approximately $13,785,693.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of the firm’s stock in a transaction dated 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 sale, the chief marketing officer now directly owns 94,126 shares in the company, valued at approximately $13,785,693.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the sale, the executive vice president now owns 37,028 shares of the company’s stock, 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 valued at $514,819 in the last three months. Company insiders own 1.55% of the company’s stock.

About Extra Space Storage

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.