Apollon Wealth Management LLC Buys 1,903 Shares of Extra Space Storage Inc. (NYSE:EXR)

Apollon Wealth Management LLC raised its position in Extra Space Storage Inc. (NYSE:EXR) by 24.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,574 shares of the real estate investment trust’s stock after acquiring an additional 1,903 shares during the period. Apollon Wealth Management LLC’s holdings in Extra Space Storage were worth $1,535,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Whittier Trust Co. increased its stake in Extra Space Storage by 4.5% during the fourth quarter. Whittier Trust Co. now owns 1,656 shares of the real estate investment trust’s stock worth $266,000 after purchasing an additional 72 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Extra Space Storage by 19.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 706 shares of the real estate investment trust’s stock worth $113,000 after acquiring an additional 113 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of Extra Space Storage by 30.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 515 shares of the real estate investment trust’s stock worth $83,000 after acquiring an additional 119 shares during the last quarter. Private Advisor Group LLC grew its position in Extra Space Storage by 0.6% in the 4th quarter. Private Advisor Group LLC now owns 21,563 shares of the real estate investment trust’s stock valued at $3,457,000 after buying an additional 119 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in Extra Space Storage by 2.9% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,050 shares of the real estate investment trust’s stock valued at $810,000 after buying an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Transactions at Extra Space Storage

In related news, CMO Samrat Sondhi sold 2,048 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $146.46, for a total value of $299,950.08. Following the completion of the sale, the chief marketing officer now directly owns 94,126 shares in the company, valued at approximately $13,785,693.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CMO Samrat Sondhi sold 2,048 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $146.46, for a total transaction of $299,950.08. Following the completion of the transaction, the chief marketing officer now owns 94,126 shares of the company’s stock, valued at approximately $13,785,693.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $145.00, for a total value of $195,750.00. Following the completion of the transaction, the executive vice president now directly owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The disclosure for this sale can be found here. Insiders have sold a total of 3,532 shares of company stock valued at $514,819 over the last 90 days. 1.36% of the stock is owned by company insiders.

Extra Space Storage Price Performance

Shares of NYSE:EXR traded down $1.29 during midday trading on Wednesday, reaching $142.01. The company’s stock had a trading volume of 77,606 shares, compared to its average volume of 1,172,481. Extra Space Storage Inc. has a fifty-two week low of $101.19 and a fifty-two week high of $164.99. The company has a market capitalization of $30.05 billion, a P/E ratio of 31.92, a P/E/G ratio of 3.48 and a beta of 0.76. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.15 and a quick ratio of 0.30. The business’s fifty day simple moving average is $141.69 and its 200-day simple moving average is $139.45.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.01). The firm had revenue of $797.77 million during the quarter, compared to the consensus estimate of $778.05 million. Extra Space Storage had a net margin of 29.10% and a return on equity of 6.76%. Extra Space Storage’s revenue was up 57.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.09 EPS. As a group, equities research analysts expect that Extra Space Storage Inc. will post 8.05 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date was Thursday, March 14th. Extra Space Storage’s dividend payout ratio is currently 144.32%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EXR. Raymond James reaffirmed an “outperform” rating and set a $160.00 price target on shares of Extra Space Storage in a research note on Thursday, March 28th. Scotiabank started coverage on shares of Extra Space Storage in a research note on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 price target for the company. The Goldman Sachs Group boosted their price target on shares of Extra Space Storage from $168.00 to $187.00 and gave the company a “buy” rating in a report on Thursday, January 11th. TheStreet raised shares of Extra Space Storage from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Finally, Evercore ISI cut their price target on shares of Extra Space Storage from $145.00 to $139.00 in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $149.67.

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.