Naviter Wealth LLC Buys 2,268 Shares of Extra Space Storage Inc. (NYSE:EXR)

Naviter Wealth LLC grew its stake in Extra Space Storage Inc. (NYSE:EXR) by 24.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,605 shares of the real estate investment trust’s stock after purchasing an additional 2,268 shares during the quarter. Naviter Wealth LLC’s holdings in Extra Space Storage were worth $1,706,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. EdgeRock Capital LLC purchased a new stake in shares of Extra Space Storage in the 4th quarter worth about $26,000. Creekmur Asset Management LLC purchased a new stake in shares of Extra Space Storage in the 4th quarter worth about $26,000. Anchor Investment Management LLC purchased a new stake in shares of Extra Space Storage in the 4th quarter worth about $35,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Extra Space Storage in the 4th quarter worth about $41,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Extra Space Storage by 200.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 300 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 200 shares during the period. 99.11% of the stock is currently owned by institutional investors.

Insider Transactions at Extra Space Storage

In other news, Director Joseph J. Bonner sold 677 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $148.22, for a total value of $100,344.94. Following the transaction, the director now owns 5,229 shares in the company, valued at approximately $775,042.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Raymond James reaffirmed an “outperform” rating and issued a $160.00 target price on shares of Extra Space Storage in a research report on Thursday, March 28th. Evercore ISI cut their price objective on shares of Extra Space Storage from $145.00 to $139.00 in a research report on Wednesday, May 1st. Citigroup cut their price objective on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Finally, Barclays increased their price objective on shares of Extra Space Storage from $157.00 to $158.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Two research 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 data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $151.83.

Extra Space Storage Stock Performance

Shares of NYSE EXR traded up $1.80 during trading on Tuesday, reaching $153.72. 637,100 shares of the company traded hands, compared to its average volume of 1,118,141. The firm has a 50 day simple moving average of $147.87 and a 200-day simple moving average of $146.88. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $32.55 billion, a PE ratio of 34.24, a P/E/G ratio of 3.73 and a beta of 0.83. Extra Space Storage Inc. has a 52-week low of $101.19 and a 52-week high of $164.99.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.22%. The ex-dividend date was Friday, June 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

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.