Moody Lynn & Lieberson LLC Has $4.19 Million Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Moody Lynn & Lieberson LLC lessened its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 0.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 27,983 shares of the real estate investment trust’s stock after selling 118 shares during the quarter. Moody Lynn & Lieberson LLC’s holdings in Extra Space Storage were worth $4,186,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in shares of Extra Space Storage in the 3rd quarter valued at $33,000. Harvest Fund Management Co. Ltd bought a new stake in Extra Space Storage during the third quarter valued at $42,000. Continuum Advisory LLC grew its holdings in Extra Space Storage by 68.1% during the 3rd quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 126 shares during the period. Sunbelt Securities Inc. raised its position in shares of Extra Space Storage by 441.2% in the 2nd quarter. Sunbelt Securities Inc. now owns 617 shares of the real estate investment trust’s stock worth $96,000 after acquiring an additional 503 shares in the last quarter. Finally, DiNuzzo Private Wealth Inc. acquired a new position in shares of Extra Space Storage in the 3rd quarter valued at about $129,000. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $152.08 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The firm’s 50-day simple moving average is $155.96 and its 200 day simple moving average is $164.72. The stock has a market cap of $32.24 billion, a price-to-earnings ratio of 39.81, a PEG ratio of 7.48 and a beta of 0.91. Extra Space Storage Inc. has a fifty-two week low of $131.02 and a fifty-two week high of $184.87.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company had revenue of $824.80 million during the quarter, compared to the consensus estimate of $826.93 million. During the same quarter in the prior year, the business earned $2.02 EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, research analysts anticipate 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. Stockholders of record on Monday, December 16th were paid a $1.62 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $6.48 annualized dividend and a dividend yield of 4.26%. Extra Space Storage’s payout ratio is 169.63%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EXR. Scotiabank raised Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 target price for the company in a research note on Friday, January 10th. Truist Financial raised their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Evercore ISI dropped 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 report on Monday, October 14th. Wells Fargo & Company restated an “equal weight” rating and issued a $175.00 price target on shares of Extra Space Storage in a report on Monday, October 21st. Finally, StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $171.25.

Insider Activity

In other Extra Space Storage news, Director Diane Olmstead sold 3,081 shares of Extra Space Storage stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $164.56, for a total transaction of $507,009.36. Following the transaction, the director now owns 5,877 shares of the company’s stock, valued at $967,119.12. This trade represents a 34.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by corporate insiders.

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.