Apollon Wealth Management LLC Boosts Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Apollon Wealth Management LLC boosted its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 24.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 9,574 shares of the real estate investment trust’s stock after buying an additional 1,903 shares during the quarter. Apollon Wealth Management LLC’s holdings in Extra Space Storage were worth $1,535,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Extra Space Storage by 17.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,087 shares of the real estate investment trust’s stock worth $18,933,000 after buying an additional 17,163 shares during the period. NewEdge Wealth LLC bought a new stake in shares of Extra Space Storage during the third quarter worth $341,000. Vanguard Personalized Indexing Management LLC lifted its position in shares of Extra Space Storage by 110.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,914 shares of the real estate investment trust’s stock worth $1,448,000 after purchasing an additional 6,262 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Extra Space Storage by 8.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,724,293 shares of the real estate investment trust’s stock worth $436,786,000 after purchasing an additional 211,395 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Extra Space Storage by 55.7% during the third quarter. Vanguard Group Inc. now owns 33,686,341 shares of the real estate investment trust’s stock worth $4,095,585,000 after purchasing an additional 12,055,172 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $145.00, for a total value of $195,750.00. Following the completion of the sale, the executive vice president now directly owns 37,028 shares of the company’s stock, valued at $5,369,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related 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 sale, the executive vice president now directly owns 37,028 shares of the company’s stock, valued at $5,369,060. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Samrat Sondhi sold 2,048 shares of Extra Space Storage 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 disclosure for this sale can be found here. Insiders sold a total of 3,532 shares of company stock worth $514,819 in the last 90 days. Company insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

EXR has been the subject of several recent research reports. Scotiabank initiated coverage on Extra Space Storage in a report on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 price objective for the company. Evercore ISI reduced their price target on Extra Space Storage from $145.00 to $139.00 in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of Extra Space Storage in a report on Tuesday, January 30th. They issued a “hold” rating and a $141.00 target price for the company. Raymond James reaffirmed an “outperform” rating and issued a $160.00 price target on shares of Extra Space Storage in a report on Thursday, March 28th. Finally, Barclays initiated coverage on Extra Space Storage in a research note on Wednesday, March 27th. They set an “overweight” rating and a $157.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $149.67.

Extra Space Storage Stock Down 0.9 %

Shares of NYSE EXR traded down $1.29 during mid-day trading on Wednesday, hitting $142.01. The company had a trading volume of 77,606 shares, compared to its average volume of 1,172,481. The company has a market capitalization of $30.05 billion, a PE ratio of 31.92, a price-to-earnings-growth ratio of 3.48 and a beta of 0.76. The business’s 50-day simple moving average is $141.69 and its 200 day simple moving average is $139.45. Extra Space Storage Inc. has a 1-year low of $101.19 and a 1-year high of $164.99. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.15 and a quick ratio of 0.30.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 EPS 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 firm had revenue of $797.77 million for the quarter, compared to analyst estimates of $778.05 million. During the same quarter in the previous year, the firm posted $2.09 EPS. The business’s revenue for the quarter was up 57.4% on a year-over-year basis. On average, analysts predict that Extra Space Storage Inc. will post 8.05 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $1.62 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.56%. Extra Space Storage’s dividend payout ratio (DPR) is 144.32%.

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.