GC Wealth Management RIA LLC Increases Position in Extra Space Storage Inc. (NYSE:EXR)

GC Wealth Management RIA LLC grew its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 24.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,163 shares of the real estate investment trust’s stock after buying an additional 629 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Extra Space Storage were worth $473,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in shares of Extra Space Storage during the fourth quarter valued at approximately $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Extra Space Storage during the third quarter valued at approximately $33,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Extra Space Storage during the third quarter valued at approximately $42,000. Quent Capital LLC lifted its position in Extra Space Storage by 89.0% during 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 during the period. Finally, Asset Planning Inc bought a new position in Extra Space Storage during the fourth quarter valued at approximately $52,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EXR. Truist Financial increased their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Barclays lowered their price objective on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Scotiabank lowered their price objective on shares of Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 5th. The Goldman Sachs Group restated a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Finally, StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $171.36.

Insider Activity

In related news, EVP William N. Springer sold 1,220 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $152.66, for a total transaction of $186,245.20. Following the completion of the transaction, the executive vice president now directly owns 20,158 shares of the company’s stock, valued at approximately $3,077,320.28. This trade represents a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were 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 of the company’s stock, valued at $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Down 2.4 %

Shares of EXR stock opened at $152.00 on Wednesday. The company has a market capitalization of $32.22 billion, a price-to-earnings ratio of 39.79, a PEG ratio of 7.76 and a beta of 0.90. Extra Space Storage Inc. has a one year low of $131.02 and a one year high of $184.87. The company’s fifty day moving average price is $153.13 and its 200-day moving average price is $162.65. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, beating the consensus estimate of $1.10 by $0.93. The firm had revenue of $821.90 million for the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. Sell-side analysts expect that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.26%. Extra Space Storage’s payout ratio is 160.40%.

Extra Space Storage 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.