Cetera Advisor Networks LLC Grows Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Cetera Advisor Networks LLC lifted its stake in Extra Space Storage Inc. (NYSE:EXR) by 341.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,647 shares of the real estate investment trust’s stock after purchasing an additional 21,378 shares during the period. Cetera Advisor Networks LLC’s holdings in Extra Space Storage were worth $4,115,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Extra Space Storage by 0.3% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,703 shares of the real estate investment trust’s stock worth $3,699,000 after buying an additional 66 shares during the last quarter. Brown Advisory Inc. lifted its holdings in Extra Space Storage by 1.6% during the 1st quarter. Brown Advisory Inc. now owns 4,156 shares of the real estate investment trust’s stock worth $677,000 after buying an additional 66 shares during the last quarter. Private Advisor Group LLC lifted its holdings in Extra Space Storage by 5.6% during the 1st quarter. Private Advisor Group LLC now owns 1,404 shares of the real estate investment trust’s stock worth $289,000 after buying an additional 74 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its holdings in Extra Space Storage by 1.0% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 7,816 shares of the real estate investment trust’s stock worth $1,163,000 after buying an additional 80 shares during the last quarter. Finally, Patron Partners LLC lifted its holdings in Extra Space Storage by 3.4% during the 1st quarter. Patron Partners LLC now owns 2,442 shares of the real estate investment trust’s stock worth $398,000 after buying an additional 81 shares during the last quarter. 66.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EXR has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price target on Extra Space Storage from $145.00 to $115.00 and set an “underweight” rating for the company in a report on Thursday, September 21st. Wells Fargo & Company started coverage on Extra Space Storage in a research report on Tuesday, October 24th. They set an “underweight” rating and a $115.00 target price on the stock. StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, November 11th. Bank of America cut Extra Space Storage from a “buy” rating to a “neutral” rating and cut their target price for the stock from $155.00 to $119.00 in a research report on Monday, October 30th. Finally, TheStreet cut Extra Space Storage from a “b-” rating to a “c” rating in a research report on Tuesday, November 7th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $142.64.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $129.48 on Tuesday. The stock has a market capitalization of $27.36 billion, a PE ratio of 23.80, a price-to-earnings-growth ratio of 0.75 and a beta of 0.63. Extra Space Storage Inc. has a 52-week low of $101.19 and a 52-week high of $170.30. The stock’s 50-day moving average price is $117.82 and its 200 day moving average price is $133.37. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.70.

Extra Space Storage Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $1.62 per share. This is a boost from Extra Space Storage’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $6.48 annualized dividend and a yield of 5.00%. Extra Space Storage’s payout ratio is presently 44.85%.

Insiders Place Their Bets

In other Extra Space Storage news, Director Joseph J. Bonner sold 956 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $125.64, for a total transaction of $120,111.84. Following the transaction, the director now owns 4,504 shares in the company, valued at approximately $565,882.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Extra Space Storage news, Director Joseph J. Bonner sold 956 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $125.64, for a total transaction of $120,111.84. Following the transaction, the director now owns 4,504 shares in the company, valued at approximately $565,882.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph D. Margolis bought 4,200 shares of the company’s stock in a transaction on Monday, November 13th. The shares were acquired at an average price of $118.21 per share, for a total transaction of $496,482.00. Following the transaction, the chief executive officer now directly owns 31,301 shares in the company, valued at approximately $3,700,091.21. The disclosure for this purchase can be found here. 1.55% of the stock is currently owned by insiders.

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 June 30, 2023, the Company owned and/or operated 2,438 self-storage stores in 41 states and Washington, DC The Company's stores comprise approximately 1.7 million units and approximately 184.0 million square feet of rentable space.