Courier Capital LLC Reduces Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Courier Capital LLC lowered its position in Extra Space Storage Inc. (NYSE:EXR) by 7.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 25,837 shares of the real estate investment trust’s stock after selling 2,095 shares during the period. Courier Capital LLC’s holdings in Extra Space Storage were worth $4,142,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. First Horizon Advisors Inc. increased its position in Extra Space Storage by 1,272.7% during the 1st quarter. First Horizon Advisors Inc. now owns 151 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 140 shares in the last quarter. Zions Bancorporation N.A. increased its position in Extra Space Storage by 241.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 150 shares in the last quarter. Money Concepts Capital Corp purchased a new stake in Extra Space Storage during the 4th quarter worth about $27,000. EverSource Wealth Advisors LLC increased its position in Extra Space Storage by 162.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 143 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Extra Space Storage during the 3rd quarter worth about $32,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Performance

NYSE EXR opened at $146.75 on Thursday. The firm has a market capitalization of $31.05 billion, a P/E ratio of 29.71, a P/E/G ratio of 3.45 and a beta of 0.74. Extra Space Storage Inc. has a 1-year low of $101.19 and a 1-year high of $165.85. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.30 and a quick ratio of 0.30. The business’s 50-day simple moving average is $143.48 and its 200-day simple moving average is $135.40.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.01). The firm had revenue of $797.77 million during the quarter, compared to analyst estimates of $778.05 million. Extra Space Storage had a net margin of 31.81% and a return on equity of 8.34%. The business’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.09 earnings per share. Equities analysts predict that Extra Space Storage Inc. will post 8.04 EPS for the current year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.42%. The ex-dividend date is Thursday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 131.17%.

Insider Buying and Selling

In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business’s stock in a transaction that occurred 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 directly owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of Extra Space Storage 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 in the company, valued at approximately $13,785,693.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of Extra Space Storage stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $145.00, for a total value of $195,750.00. Following the sale, the executive vice president now owns 37,028 shares in the company, valued at $5,369,060. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,532 shares of company stock valued at $514,819. Corporate insiders own 1.55% of the company’s stock.

Wall Street Analyst Weigh In

EXR has been the subject of a number of recent research reports. Truist Financial lifted their price objective on Extra Space Storage from $138.00 to $152.00 and gave the stock a “hold” rating in a research report on Thursday, December 28th. Wells Fargo & Company decreased their price target on Extra Space Storage from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday, March 4th. TheStreet raised Extra Space Storage from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Morgan Stanley raised Extra Space Storage from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $115.00 to $150.00 in a research note on Thursday, December 21st. Finally, StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, March 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Extra Space Storage presently has an average rating of “Hold” and a consensus price target of $149.92.

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.