SG Americas Securities LLC Acquires 160,489 Shares of Extra Space Storage Inc. (NYSE:EXR)

SG Americas Securities LLC grew its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 763.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 181,513 shares of the real estate investment trust’s stock after purchasing an additional 160,489 shares during the quarter. SG Americas Securities LLC owned about 0.09% of Extra Space Storage worth $27,154,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hamlin Capital Management LLC boosted its position in shares of Extra Space Storage by 11.1% in the fourth quarter. Hamlin Capital Management LLC now owns 850,800 shares of the real estate investment trust’s stock valued at $127,280,000 after acquiring an additional 84,757 shares during the period. Gilman Hill Asset Management LLC boosted its position in shares of Extra Space Storage by 13.3% in the fourth quarter. Gilman Hill Asset Management LLC now owns 1,492 shares of the real estate investment trust’s stock valued at $223,000 after acquiring an additional 175 shares during the period. Liberty One Investment Management LLC boosted its position in shares of Extra Space Storage by 8.1% in the fourth quarter. Liberty One Investment Management LLC now owns 28,387 shares of the real estate investment trust’s stock valued at $4,247,000 after acquiring an additional 2,118 shares during the period. Ameritas Advisory Services LLC bought a new position in shares of Extra Space Storage in the fourth quarter valued at approximately $717,000. Finally, Arkadios Wealth Advisors boosted its position in shares of Extra Space Storage by 9.5% in the fourth quarter. Arkadios Wealth Advisors now owns 6,182 shares of the real estate investment trust’s stock valued at $925,000 after acquiring an additional 534 shares during the period. Institutional investors own 99.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Barclays cut their price objective on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Scotiabank raised shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 target price on the stock in a research note on Friday, January 10th. Truist Financial raised their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Finally, Evercore ISI lowered their target price on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $171.25.

Insider Buying and Selling

In related news, Director Diane Olmstead sold 3,081 shares of Extra Space Storage stock in a transaction on Friday, November 15th. The shares were sold at an average price of $164.56, for a total value of $507,009.36. Following the sale, the director now owns 5,877 shares in the company, valued at $967,119.12. The trade was a 34.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage 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 completion of 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 disclosure for this sale can be found here. 1.36% of the stock is owned by insiders.

Extra Space Storage Trading Down 1.2 %

EXR stock opened at $150.04 on Thursday. The company has a market capitalization of $31.80 billion, a PE ratio of 39.28, a price-to-earnings-growth ratio of 7.57 and a beta of 0.91. Extra Space Storage Inc. has a one year low of $131.02 and a one year high of $184.87. The company’s 50 day moving average price is $156.73 and its two-hundred day moving average price is $164.94. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.

Extra Space Storage (NYSE:EXR) last posted its quarterly 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). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business had revenue of $824.80 million for the quarter, compared to analysts’ expectations of $826.93 million. During the same period last year, the business posted $2.02 earnings per share. The company’s revenue was up 10.2% compared to the same quarter last year. As a group, analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.32%. The ex-dividend date was Monday, December 16th. Extra Space Storage’s payout ratio is 169.63%.

Extra Space Storage Company 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.