Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC lowered its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 12.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,027 shares of the real estate investment trust’s stock after selling 300 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Extra Space Storage were worth $325,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Whittier Trust Co. grew its holdings in shares of Extra Space Storage by 4.5% during the fourth 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. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Extra Space Storage by 19.1% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 706 shares of the real estate investment trust’s stock worth $113,000 after buying an additional 113 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in Extra Space Storage by 30.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 515 shares of the real estate investment trust’s stock worth $83,000 after buying an additional 119 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in Extra Space Storage by 2.9% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,050 shares of the real estate investment trust’s stock worth $810,000 after buying an additional 142 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Extra Space Storage by 162.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 143 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Stock Up 0.6 %

Shares of NYSE EXR traded up $0.81 during mid-day trading on Monday, reaching $142.68. The company had a trading volume of 1,070,719 shares, compared to its average volume of 1,185,638. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $164.99. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.30 and a current ratio of 0.15. The stock has a market capitalization of $30.19 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 3.48 and a beta of 0.76. The stock’s 50 day moving average is $141.56 and its 200-day moving average is $139.00.

Extra Space Storage (NYSE:EXR) last posted 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). Extra Space Storage had a return on equity of 6.76% and a net margin of 29.10%. The company had revenue of $797.77 million during the quarter, compared to analyst estimates of $778.05 million. During the same period last year, the company posted $2.09 earnings per share. The company’s revenue was up 57.4% compared to the same quarter last year. As a group, equities analysts anticipate that Extra Space Storage Inc. will post 8.05 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend was Thursday, March 14th. Extra Space Storage’s payout ratio is 144.32%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Raymond James reissued an “outperform” rating and issued a $160.00 price objective on shares of Extra Space Storage in a report on Thursday, March 28th. The Goldman Sachs Group upped their target price on Extra Space Storage from $168.00 to $187.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Wells Fargo & Company upped their target price on Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. Finally, Evercore ISI cut their price objective on Extra Space Storage from $145.00 to $139.00 in a research report on Wednesday, May 1st. Two 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 MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $149.67.

Insiders Place Their Bets

In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of the 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 transaction, the chief marketing officer now directly owns 94,126 shares of the company’s stock, valued at $13,785,693.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $5,369,060. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CMO Samrat Sondhi sold 2,048 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $146.46, for a total transaction of $299,950.08. Following the sale, the chief marketing officer now directly owns 94,126 shares of the company’s stock, valued at approximately $13,785,693.96. The disclosure for this sale can be found here. Insiders have sold 3,532 shares of company stock valued at $514,819 over the last three months. 1.36% of the stock is currently owned by insiders.

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.