Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 1,060 Shares of Extra Space Storage Inc. (NYSE:EXR)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management trimmed its position in Extra Space Storage Inc. (NYSE:EXR) by 31.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,295 shares of the real estate investment trust’s stock after selling 1,060 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Extra Space Storage were worth $368,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Whittier Trust Co. grew its holdings in 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 worth $266,000 after acquiring an additional 72 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its holdings in Extra Space Storage by 19.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 706 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 113 shares during the period. Parkside Financial Bank & Trust raised its stake in Extra Space Storage by 30.1% in the fourth 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. Private Advisor Group LLC lifted its holdings in Extra Space Storage by 0.6% during the fourth quarter. Private Advisor Group LLC now owns 21,563 shares of the real estate investment trust’s stock worth $3,457,000 after buying an additional 119 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. boosted its position in Extra Space Storage by 2.9% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,050 shares of the real estate investment trust’s stock valued at $810,000 after acquiring an additional 142 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Insiders Place Their Bets

In other news, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $146.46, for a total value 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 $13,785,693.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Gwyn Goodson Mcneal sold 1,350 shares of Extra Space Storage 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 transaction, the executive vice president now owns 37,028 shares in the company, valued at approximately $5,369,060. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Samrat Sondhi sold 2,048 shares of the business’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 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. Insiders have sold a total of 3,532 shares of company stock valued at $514,819 in the last 90 days. 1.36% of the stock is owned by insiders.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $140.95 on Thursday. Extra Space Storage Inc. has a one year low of $101.19 and a one year 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 firm has a fifty day moving average of $141.74 and a 200 day moving average of $139.46. The firm has a market cap of $29.84 billion, a PE ratio of 31.39, a PEG ratio of 3.48 and a beta of 0.76.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data 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 firm 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 6.76% and a net margin of 29.10%. Extra Space Storage’s quarterly revenue was up 57.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.09 earnings per share. As a group, research analysts predict that Extra Space Storage Inc. will post 8.05 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders 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 4.60%. Extra Space Storage’s payout ratio is currently 144.32%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EXR. Barclays started coverage on Extra Space Storage in a research note on Wednesday, March 27th. They set an “overweight” rating and a $157.00 price objective for the company. Deutsche Bank Aktiengesellschaft started coverage on Extra Space Storage in a research report on Tuesday, January 30th. They issued a “hold” rating and a $141.00 target price on the stock. Evercore ISI dropped their price target on Extra Space Storage from $145.00 to $139.00 in a research note on Wednesday, May 1st. TheStreet upgraded Extra Space Storage from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Finally, StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $149.67.

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.