Wells Fargo & Company MN Has $40.94 Million Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Posted by Defense World Staff on Jun 11th, 2023

Wells Fargo & Company MN grew its position in Extra Space Storage Inc. (NYSE:EXR – Get Rating) by 10.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 278,183 shares of the real estate investment trust’s stock after buying an additional 25,810 shares during the period. Wells Fargo & Company MN owned approximately 0.21% of Extra Space Storage worth $40,943,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in EXR. Geode Capital Management LLC lifted its position in Extra Space Storage by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 3,135,848 shares of the real estate investment trust’s stock valued at $460,800,000 after acquiring an additional 38,582 shares in the last quarter. Pictet Asset Management SA lifted its position in 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 acquiring an additional 145,688 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Extra Space Storage by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,877,977 shares of the real estate investment trust’s stock valued at $276,405,000 after acquiring an additional 22,497 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in 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 acquiring an additional 31,987 shares in the last quarter. Finally, Ceredex Value Advisors LLC lifted its position in 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 acquiring an additional 381,727 shares in the last quarter. Institutional investors and hedge funds own 95.32% of the company’s stock.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 5,000 shares of the company’s stock in a transaction dated Tuesday, April 4th. The shares were sold at an average price of $160.07, for a total value of $800,350.00. Following the transaction, the chief executive officer now owns 15,144 shares in the company, valued at approximately $2,424,100.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.55% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Raymond James raised shares of 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 report on Tuesday, April 4th. Bank of America began coverage on shares of Extra Space Storage in a research report on Monday, May 8th. They set a “buy” rating on the stock. KeyCorp cut their price target on shares of Extra Space Storage from $190.00 to $172.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 5th. Truist Financial boosted their price target on shares of Extra Space Storage from $160.00 to $165.00 and gave the stock a “hold” rating in a research report on Wednesday, March 8th. Finally, StockNews.com began coverage on shares of Extra Space Storage in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Extra Space Storage currently has a consensus rating of “Hold” and an average target price of $170.56.

Extra Space Storage Stock Down 1.1 %

Extra Space Storage stock opened at $144.50 on Friday. The firm has a market capitalization of $19.51 billion, a PE ratio of 22.72, a P/E/G ratio of 5.00 and a beta of 0.54. The company’s 50-day moving average is $151.98 and its 200-day moving average is $154.44. Extra Space Storage Inc. has a fifty-two week low of $139.97 and a fifty-two week high of $216.52. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.27 and a quick ratio of 0.27.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be paid a $1.62 dividend. The ex-dividend date is Wednesday, June 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.48%. Extra Space Storage’s dividend payout ratio (DPR) is currently 101.89%.

Extra Space Storage Company Profile

(Get Rating)

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, 2022, the Company owned and/or operated 2,338 self-storage stores in 41 states and Washington, DC The Company's stores comprise approximately 1.6 million units and approximately 176.1 million square feet of rentable space.