Venturi Wealth Management LLC Sells 264 Shares of Extra Space Storage Inc. (NYSE:EXR)

Venturi Wealth Management LLC decreased its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 4.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 5,553 shares of the real estate investment trust’s stock after selling 264 shares during the period. Venturi Wealth Management LLC’s holdings in Extra Space Storage were worth $890,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in EXR. Private Advisor Group LLC boosted its stake in shares of Extra Space Storage by 5.6% during the 1st quarter. Private Advisor Group LLC now owns 1,404 shares of the real estate investment trust’s stock worth $289,000 after buying an additional 74 shares during the last quarter. Blair William & Co. IL boosted its position in Extra Space Storage by 16.5% in the first quarter. Blair William & Co. IL now owns 1,502 shares of the real estate investment trust’s stock valued at $309,000 after buying an additional 213 shares in the last quarter. Prudential PLC acquired a new stake in Extra Space Storage in the first quarter valued at approximately $625,000. Cetera Investment Advisers raised its stake in shares of Extra Space Storage by 8.2% during the first quarter. Cetera Investment Advisers now owns 2,522 shares of the real estate investment trust’s stock valued at $519,000 after acquiring an additional 192 shares during the last quarter. Finally, Dakota Wealth Management bought a new position in shares of Extra Space Storage during the first quarter valued at $332,000. Institutional investors own 99.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on EXR shares. Scotiabank started coverage on shares of Extra Space Storage in a research note on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 target price for the company. Barclays began coverage on shares of Extra Space Storage in a research note on Wednesday, March 27th. They set an “overweight” rating and a $157.00 target price for the company. Truist Financial lifted their price target on shares of Extra Space Storage from $138.00 to $152.00 and gave the company a “hold” rating in a research note on Thursday, December 28th. Raymond James reaffirmed an “outperform” rating and issued a $160.00 price target on shares of Extra Space Storage in a research note on Thursday, March 28th. Finally, Wells Fargo & Company decreased their target price on shares of Extra Space Storage from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Monday, March 4th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $151.08.

Extra Space Storage Price Performance

NYSE:EXR traded down $1.29 during trading hours on Wednesday, reaching $144.20. The stock had a trading volume of 102,076 shares, compared to its average volume of 1,181,069. The stock has a market capitalization of $30.51 billion, a PE ratio of 29.46, a PEG ratio of 3.60 and a beta of 0.74. Extra Space Storage Inc. has a 52 week low of $101.19 and a 52 week high of $165.85. The company has a 50 day moving average price of $143.42 and a two-hundred day moving average price of $136.03. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.30 and a current ratio of 0.30.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data 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). The business 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 firm’s revenue was up 57.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.09 EPS. As a group, sell-side analysts anticipate that Extra Space Storage Inc. will post 8.05 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.49%. Extra Space Storage’s payout ratio is currently 131.17%.

Insider Buying and Selling

In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the transaction, the executive vice president now 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 the SEC website. In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Samrat Sondhi sold 2,048 shares of the firm’s stock in a transaction on 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 owns 94,126 shares in the company, valued at $13,785,693.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,532 shares of company stock valued at $514,819. Company insiders own 1.55% of the company’s stock.

About Extra Space Storage

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.