Ieq Capital LLC Grows Position in Extra Space Storage Inc. (NYSE:EXR)

Ieq Capital LLC grew its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 59.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,622 shares of the real estate investment trust’s stock after purchasing an additional 3,576 shares during the quarter. Ieq Capital LLC’s holdings in Extra Space Storage were worth $1,439,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of EXR. Golden State Wealth Management LLC bought a new position in Extra Space Storage in the 4th quarter worth approximately $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Extra Space Storage during the third quarter worth $33,000. Harvest Fund Management Co. Ltd bought a new position in shares of Extra Space Storage in the third quarter worth $42,000. Continuum Advisory LLC grew its position in shares of Extra Space Storage by 68.1% in the third quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 126 shares in the last quarter. Finally, Quent Capital LLC grew its position in shares of Extra Space Storage by 89.0% in the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EXR shares. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Wells Fargo & Company cut their price objective on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research report on Friday. Scotiabank raised shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective for the company in a research note on Friday, January 10th. Barclays lowered their target price on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Finally, Truist Financial raised their price target on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $173.09.

Insiders Place Their Bets

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the transaction, the chief executive officer now directly owns 16,690 shares in the company, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

Extra Space Storage stock opened at $159.14 on Tuesday. Extra Space Storage Inc. has a fifty-two week low of $131.02 and a fifty-two week high of $184.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The stock has a market cap of $33.73 billion, a P/E ratio of 41.66, a price-to-earnings-growth ratio of 7.76 and a beta of 0.91. The firm’s fifty day moving average price is $151.61 and its 200-day moving average price is $163.74.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $1.62 per share. The ex-dividend date is Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.07%. Extra Space Storage’s payout ratio is 169.63%.

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.