Gateway Investment Advisers LLC Has $12.15 Million Holdings in Extra Space Storage Inc. (NYSE:EXR)

Gateway Investment Advisers LLC decreased its position in Extra Space Storage Inc. (NYSE:EXR) by 19.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 81,227 shares of the real estate investment trust’s stock after selling 19,347 shares during the period. Gateway Investment Advisers LLC’s holdings in Extra Space Storage were worth $12,152,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of EXR. Graypoint LLC grew its holdings in shares of Extra Space Storage by 4.3% in the 3rd quarter. Graypoint LLC now owns 1,575 shares of the real estate investment trust’s stock valued at $284,000 after acquiring an additional 65 shares in the last quarter. Hummer Financial Advisory Services Inc increased its position in shares of Extra Space Storage by 1.2% during the 3rd quarter. Hummer Financial Advisory Services Inc now owns 5,920 shares of the real estate investment trust’s stock worth $1,067,000 after purchasing an additional 70 shares during the last quarter. Buckley Wealth Management LLC raised its stake in shares of Extra Space Storage by 1.9% during the 3rd quarter. Buckley Wealth Management LLC now owns 3,811 shares of the real estate investment trust’s stock worth $687,000 after purchasing an additional 71 shares in the last quarter. Bleakley Financial Group LLC raised its stake in shares of Extra Space Storage by 4.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 1,973 shares of the real estate investment trust’s stock worth $356,000 after purchasing an additional 77 shares in the last quarter. Finally, Aptus Capital Advisors LLC boosted its holdings in shares of Extra Space Storage by 5.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 1,570 shares of the real estate investment trust’s stock valued at $283,000 after buying an additional 82 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on EXR shares. 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 note on Monday. Wells Fargo & Company restated an “equal weight” rating and issued a $175.00 price objective on shares of Extra Space Storage in a research note on Monday, October 21st. Truist Financial raised their price objective on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Finally, 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 report on Friday, January 10th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $171.25.

Insider Buying and Selling

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 16,690 shares in the company, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Diane Olmstead sold 3,081 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $164.56, for a total transaction of $507,009.36. Following the transaction, the director now owns 5,877 shares of the company’s stock, valued at approximately $967,119.12. This represents a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is owned by company insiders.

Extra Space Storage Price Performance

NYSE:EXR opened at $151.63 on Friday. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 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 firm’s 50-day simple moving average is $157.58 and its 200 day simple moving average is $164.84. The firm has a market cap of $32.14 billion, a price-to-earnings ratio of 39.69, a P/E/G ratio of 7.18 and a beta of 0.91.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.12). The business had revenue of $824.80 million for the quarter, compared to the consensus estimate of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.02 earnings per share. As a group, sell-side analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.27%. The ex-dividend date was Monday, December 16th. Extra Space Storage’s dividend payout ratio (DPR) is currently 169.63%.

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.