Orion Portfolio Solutions LLC Has $1.15 Million Holdings in Extra Space Storage Inc. (NYSE:EXR)

Orion Portfolio Solutions LLC lessened its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 2.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,376 shares of the real estate investment trust’s stock after selling 157 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Extra Space Storage were worth $1,149,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in EXR. EdgeRock Capital LLC acquired a new stake in Extra Space Storage during the 2nd quarter worth $25,000. Centerpoint Advisors LLC acquired a new stake in Extra Space Storage during the 2nd quarter worth $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Extra Space Storage in the 3rd quarter valued at about $33,000. Blue Trust Inc. raised its stake in shares of Extra Space Storage by 540.5% in the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 200 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Extra Space Storage in the 3rd quarter valued at about $42,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Transactions at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the completion of the sale, the chief executive officer now owns 24,190 shares in the company, valued at $4,318,398.80. The trade was a 23.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 value of $507,009.36. Following the sale, the director now owns 5,877 shares of the company’s stock, valued at approximately $967,119.12. This represents a 34.39 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EXR. Scotiabank dropped their price target on Extra Space Storage from $169.00 to $167.00 and set a “sector underperform” rating on the stock in a research note on Monday, November 25th. StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Evercore ISI dropped their price target on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. Royal Bank of Canada began coverage on Extra Space Storage in a research note on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 price target on the stock. Finally, KeyCorp lifted their price target on Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $171.43.

Extra Space Storage Trading Down 0.5 %

Extra Space Storage stock opened at $158.20 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 debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The stock has a market capitalization of $33.54 billion, a P/E ratio of 41.41, a PEG ratio of 8.03 and a beta of 0.89. The stock has a 50-day simple moving average of $166.56 and a 200 day simple moving average of $165.38.

Extra Space Storage (NYSE:EXR) last posted 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 return on equity of 5.51% and a net margin of 25.35%. The business had revenue of $824.80 million for the quarter, compared to the consensus estimate of $826.93 million. During the same quarter in the previous year, the business posted $2.02 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. Analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis 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 presently 169.63%.

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.