Naviter Wealth LLC Sells 796 Shares of Extra Space Storage Inc. (NYSE:EXR)

Naviter Wealth LLC decreased its stake in Extra Space Storage Inc. (NYSE:EXR) by 6.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,781 shares of the real estate investment trust’s stock after selling 796 shares during the period. Naviter Wealth LLC’s holdings in Extra Space Storage were worth $2,123,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. GAMMA Investing LLC grew its holdings in shares of Extra Space Storage by 32.2% during the 1st quarter. GAMMA Investing LLC now owns 1,051 shares of the real estate investment trust’s stock valued at $154,000 after purchasing an additional 256 shares during the last quarter. Czech National Bank boosted its position in Extra Space Storage by 0.5% during the 1st quarter. Czech National Bank now owns 37,174 shares of the real estate investment trust’s stock valued at $5,465,000 after buying an additional 170 shares during the period. Gulf International Bank UK Ltd boosted its position in Extra Space Storage by 0.7% during the 1st quarter. Gulf International Bank UK Ltd now owns 17,446 shares of the real estate investment trust’s stock valued at $2,564,000 after buying an additional 127 shares during the period. Ignite Planners LLC purchased a new stake in Extra Space Storage during the 1st quarter valued at $702,000. Finally, Vert Asset Management LLC boosted its position in Extra Space Storage by 1.1% during the 1st quarter. Vert Asset Management LLC now owns 86,495 shares of the real estate investment trust’s stock valued at $12,715,000 after buying an additional 973 shares during the period. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Down 0.3 %

NYSE:EXR traded down $0.56 on Thursday, reaching $171.56. 14,002 shares of the stock traded hands, compared to its average volume of 1,041,499. The company’s fifty day simple moving average is $174.20 and its 200 day simple moving average is $158.66. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $184.87. The company has a market capitalization of $36.32 billion, a price-to-earnings ratio of 38.33, a PEG ratio of 6.47 and a beta of 0.86. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.76.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $1.62 per share. The ex-dividend date was Monday, September 16th. This represents a $6.48 annualized dividend and a yield of 3.78%. Extra Space Storage’s dividend payout ratio (DPR) is 144.32%.

Insider Activity at Extra Space Storage

In related news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $177.01, for a total transaction of $499,699.23. Following the completion of the sale, the executive vice president now directly owns 32,855 shares in the company, valued at approximately $5,815,663.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP William N. Springer sold 2,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total value of $350,660.00. Following the transaction, the executive vice president now directly owns 11,919 shares in the company, valued at $2,089,758.27. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $177.01, for a total value of $499,699.23. Following the completion of the transaction, the executive vice president now owns 32,855 shares in the company, valued at $5,815,663.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,970 shares of company stock worth $3,367,307. 1.36% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on EXR. Wells Fargo & Company increased their price target on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Evercore ISI dropped their target price on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a research report on Monday. Truist Financial raised their target price on shares of Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Scotiabank raised their target price on shares of Extra Space Storage from $159.00 to $169.00 and gave the stock a “sector underperform” rating in a research report on Thursday, August 22nd. Finally, Barclays raised their target price on shares of Extra Space Storage from $158.00 to $188.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $170.80.

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.