Aviso Financial Inc. Invests $758,000 in Extra Space Storage Inc. (NYSE:EXR)

Aviso Financial Inc. acquired a new stake in shares of Extra Space Storage Inc. (NYSE:EXR) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,066 shares of the real estate investment trust’s stock, valued at approximately $758,000.

A number of other large investors have also added to or reduced their stakes in EXR. Golden State Wealth Management LLC bought a new position in shares of Extra Space Storage during the fourth quarter valued at $25,000. Ashton Thomas Securities LLC bought a new stake in Extra Space Storage during the 3rd quarter valued at about $33,000. Harvest Fund Management Co. Ltd bought a new stake in Extra Space Storage during the 3rd quarter valued at about $42,000. Quent Capital LLC raised its holdings in 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 worth $49,000 after buying an additional 154 shares during the last quarter. Finally, Asset Planning Inc bought a new position in shares of Extra Space Storage in the fourth quarter worth approximately $52,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Truist Financial boosted their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday, March 7th. Wells Fargo & Company reduced their price objective on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. Barclays decreased their target price on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Royal Bank of Canada dropped their price target on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and an average target price of $171.09.

Insiders Place Their Bets

In other news, Director Joseph J. Bonner sold 672 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the transaction, the director now owns 4,557 shares of the company’s stock, valued at $679,448.70. This represents a 12.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,392 shares of company stock worth $1,396,515 over the last three months. 1.36% of the stock is currently owned by company insiders.

Extra Space Storage Trading Up 0.4 %

Shares of Extra Space Storage stock opened at $145.03 on Friday. Extra Space Storage Inc. has a 1-year low of $131.02 and a 1-year high of $184.87. The company’s fifty day simple moving average is $152.94 and its 200-day simple moving average is $162.21. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a market capitalization of $30.75 billion, a PE ratio of 37.97, a P/E/G ratio of 7.76 and a beta of 0.90.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.93. The company had revenue of $821.90 million for the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. As a group, equities analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

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 issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s dividend payout ratio is currently 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.