AE Wealth Management LLC boosted its holdings in Extra Space Storage Inc. (NYSE:EXR – Get Rating) by 13.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,221 shares of the real estate investment trust’s stock after buying an additional 2,637 shares during the period. AE Wealth Management LLC’s holdings in Extra Space Storage were worth $3,270,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Extra Space Storage by 0.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,648,605 shares of the real estate investment trust’s stock valued at $630,149,000 after purchasing an additional 10,610 shares in the last quarter. Pictet Asset Management SA lifted its stake in shares of Extra Space Storage by 7.5% in the 3rd quarter. Pictet Asset Management SA now owns 2,084,840 shares of the real estate investment trust’s stock valued at $359,005,000 after purchasing an additional 145,688 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Extra Space Storage by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,312,164 shares of the real estate investment trust’s stock valued at $269,781,000 after purchasing an additional 31,987 shares in the last quarter. Ceredex Value Advisors LLC lifted its stake in shares of Extra Space Storage by 69.0% in the 4th quarter. Ceredex Value Advisors LLC now owns 934,970 shares of the real estate investment trust’s stock valued at $137,609,000 after purchasing an additional 381,727 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Extra Space Storage by 79.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 850,517 shares of the real estate investment trust’s stock valued at $144,690,000 after purchasing an additional 376,279 shares in the last quarter. 95.32% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, CMO Samrat Sondhi sold 6,290 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $161.88, for a total value of $1,018,225.20. Following the completion of the sale, the chief marketing officer now directly owns 82,653 shares in the company, valued at approximately $13,379,867.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Gwyn Goodson Mcneal sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $164.00, for a total value of $246,000.00. Following the completion of the sale, the executive vice president now directly owns 32,290 shares in the company, valued at approximately $5,295,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Samrat Sondhi sold 6,290 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $161.88, for a total value of $1,018,225.20. Following the completion of the sale, the chief marketing officer now owns 82,653 shares of the company’s stock, valued at $13,379,867.64. The disclosure for this sale can be found here. Insiders have sold 13,440 shares of company stock worth $2,172,313 in the last three months. 1.52% of the stock is owned by insiders.
Extra Space Storage Price Performance
Extra Space Storage (NYSE:EXR – Get Rating) last posted its quarterly earnings data on Wednesday, February 22nd. The real estate investment trust reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.56). Extra Space Storage had a return on equity of 22.01% and a net margin of 45.52%. The business had revenue of $506.70 million for the quarter, compared to analysts’ expectations of $433.39 million. During the same quarter in the prior year, the firm earned $1.91 earnings per share. Extra Space Storage’s revenue for the quarter was up 18.4% compared to the same quarter last year. Analysts predict that Extra Space Storage Inc. will post 8.53 earnings per share for the current fiscal year.
Extra Space Storage Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Tuesday, March 14th. This is an increase from Extra Space Storage’s previous quarterly dividend of $1.50. This represents a $6.48 annualized dividend and a yield of 4.18%. Extra Space Storage’s payout ratio is currently 101.09%.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on EXR shares. Raymond James raised Extra Space Storage from an “outperform” rating to a “strong-buy” rating and set a $185.00 price objective on the stock in a research note on Tuesday, April 4th. KeyCorp reduced their price objective on Extra Space Storage from $190.00 to $172.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 5th. StockNews.com began coverage on Extra Space Storage in a report on Thursday, March 16th. They set a “hold” rating on the stock. Truist Financial raised their target price on Extra Space Storage from $160.00 to $165.00 and gave the company a “hold” rating in a report on Wednesday, March 8th. Finally, Wolfe Research downgraded Extra Space Storage from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 18th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $170.56.
About Extra Space Storage
Extra Space Storage, Inc is a real estate investment trust. It operates through the following segments: Self-Storage Operations and Tenant Reinsurance. The Self-Storage Operations segment includes rental operations of wholly-owned stores. The Tenant Reinsurance segment includes reinsurance of risks relating to the loss of goods stored by tenants in stores.
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