Paladin Wealth LLC Has $702,000 Position in Extra Space Storage Inc. (NYSE:EXR)

Paladin Wealth LLC increased its position in Extra Space Storage Inc. (NYSE:EXR) by 11.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,690 shares of the real estate investment trust’s stock after acquiring an additional 500 shares during the quarter. Paladin Wealth LLC’s holdings in Extra Space Storage were worth $702,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atomi Financial Group Inc. acquired a new stake in shares of Extra Space Storage in the 3rd quarter valued at about $246,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Extra Space Storage by 266.7% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,100 shares of the real estate investment trust’s stock worth $198,000 after buying an additional 800 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in Extra Space Storage in the third quarter worth $136,000. Koshinski Asset Management Inc. bought a new position in Extra Space Storage during the third quarter valued at about $209,000. Finally, Swedbank AB grew its position in shares of Extra Space Storage by 4.5% during the 3rd quarter. Swedbank AB now owns 243,130 shares of the real estate investment trust’s stock valued at $43,810,000 after acquiring an additional 10,408 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Diane Olmstead sold 3,081 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 5,877 shares of the company’s stock, valued at $967,119.12. This represents a 34.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the sale, the chief executive officer now owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Up 0.3 %

NYSE EXR opened at $156.52 on Tuesday. The firm has a market capitalization of $33.18 billion, a price-to-earnings ratio of 40.97, a PEG ratio of 7.77 and a beta of 0.91. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. The company has a fifty day moving average of $153.06 and a two-hundred day moving average of $164.20. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors 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 yield of 4.14%. Extra Space Storage’s dividend payout ratio (DPR) is currently 169.63%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Truist Financial boosted their price target 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 dropped their price objective on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Scotiabank raised shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price target on the stock in a research note on Friday, January 10th. Wells Fargo & Company reissued an “equal weight” rating and issued a $175.00 target price on shares of Extra Space Storage in a research note on Monday, October 21st. Finally, StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $174.00.

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.