Coldstream Capital Management Inc. Raises Position in Extra Space Storage Inc. (NYSE:EXR)

Coldstream Capital Management Inc. lifted its stake in Extra Space Storage Inc. (NYSE:EXR) by 8.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,905 shares of the real estate investment trust’s stock after purchasing an additional 320 shares during the period. Coldstream Capital Management Inc.’s holdings in Extra Space Storage were worth $699,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Prestige Wealth Management Group LLC increased its position in Extra Space Storage by 2,557.3% in the third quarter. Prestige Wealth Management Group LLC now owns 2,737 shares of the real estate investment trust’s stock worth $493,000 after buying an additional 2,634 shares in the last quarter. Vestcor Inc increased its holdings in Extra Space Storage by 131.9% in the 3rd quarter. Vestcor Inc now owns 29,389 shares of the real estate investment trust’s stock worth $5,296,000 after acquiring an additional 16,718 shares in the last quarter. Duff & Phelps Investment Management Co. raised its stake in Extra Space Storage by 9.5% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 35,503 shares of the real estate investment trust’s stock worth $6,397,000 after acquiring an additional 3,093 shares during the period. Continuum Advisory LLC lifted its holdings in Extra Space Storage by 68.1% during the third quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 126 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Extra Space Storage by 1.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 328,010 shares of the real estate investment trust’s stock worth $59,104,000 after purchasing an additional 5,430 shares during the period. 99.11% of the stock is owned by institutional investors.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, Director Diane Olmstead sold 3,081 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $164.56, for a total transaction of $507,009.36. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total value of $1,338,900.00. Following the transaction, the chief executive officer now directly owns 24,190 shares in the company, valued at approximately $4,318,398.80. This represents a 23.67 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by insiders.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $158.22 on Friday. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The firm’s fifty day moving average is $166.78 and its 200 day moving average is $165.27. The company has a market cap of $33.54 billion, a price-to-earnings ratio of 41.47, a PEG ratio of 8.03 and a beta of 0.89.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS 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 business had revenue of $824.80 million during the quarter, compared to the consensus estimate of $826.93 million. During the same period in the previous year, the business posted $2.02 EPS. The firm’s revenue was up 10.2% on a year-over-year basis. Sell-side analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Monday, December 16th. Extra Space Storage’s dividend payout ratio is currently 169.63%.

Wall Street Analyst Weigh In

EXR has been the topic of several recent analyst reports. Truist Financial raised their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Barclays raised their price target on Extra Space Storage from $188.00 to $192.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Evercore ISI dropped their price objective on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. Jefferies Financial Group raised Extra Space Storage from a “hold” rating to a “buy” rating and lifted their target price for the company from $162.00 to $204.00 in a research note on Wednesday, September 18th. Finally, StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $171.43.

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.