Naviter Wealth LLC Has $1.71 Million Stake in Extra Space Storage Inc. (NYSE:EXR)

Naviter Wealth LLC increased its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 24.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,605 shares of the real estate investment trust’s stock after acquiring an additional 2,268 shares during the period. Naviter Wealth LLC’s holdings in Extra Space Storage were worth $1,706,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new stake in Extra Space Storage in the 4th quarter valued at $26,000. Creekmur Asset Management LLC acquired a new stake in Extra Space Storage in the 4th quarter valued at $26,000. Anchor Investment Management LLC acquired a new stake in Extra Space Storage in the 4th quarter valued at $35,000. Bruce G. Allen Investments LLC acquired a new stake in Extra Space Storage in the 4th quarter valued at $41,000. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its stake in 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 valued at $48,000 after buying an additional 200 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Citigroup lowered 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 note on Friday, June 7th. Wells Fargo & Company boosted their price objective on shares of Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Raymond James reaffirmed an “outperform” rating and set a $160.00 target price on shares of Extra Space Storage in a report on Thursday, March 28th. Evercore ISI reduced their target price on shares of Extra Space Storage from $145.00 to $139.00 in a report on Wednesday, May 1st. Finally, Barclays lifted their target price on shares of Extra Space Storage from $157.00 to $158.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Extra Space Storage presently has an average rating of “Hold” and a consensus target price of $151.83.

Insider Buying and Selling

In related 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 transaction of $100,344.94. Following the sale, the director now owns 5,229 shares in the company, valued at approximately $775,042.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.36% of the stock is currently owned by company insiders.

Extra Space Storage Price Performance

Shares of NYSE EXR traded up $1.80 during trading hours on Tuesday, hitting $153.72. 637,100 shares of the stock were exchanged, compared to its average volume of 1,118,141. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.15. The company has a market cap of $32.55 billion, a PE ratio of 34.24, a price-to-earnings-growth ratio of 3.73 and a beta of 0.83. The company’s fifty day simple moving average is $147.87 and its two-hundred day simple moving average is $146.88. Extra Space Storage Inc. has a 1-year low of $101.19 and a 1-year high of $164.99.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $1.62 per share. The ex-dividend date was Friday, June 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.22%. Extra Space Storage’s dividend payout ratio is 144.32%.

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.