Blue Trust Inc. Cuts Position in Extra Space Storage Inc. (NYSE:EXR)

Blue Trust Inc. lessened its holdings in Extra Space Storage Inc. (NYSE:EXR) by 35.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 164 shares of the real estate investment trust’s stock after selling 89 shares during the period. Blue Trust Inc.’s holdings in Extra Space Storage were worth $26,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of EXR. First Horizon Advisors Inc. increased its stake in shares of Extra Space Storage by 1,272.7% in the 1st quarter. First Horizon Advisors Inc. now owns 151 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 140 shares in the last quarter. Zions Bancorporation N.A. increased its stake in shares of Extra Space Storage by 241.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 150 shares in the last quarter. Money Concepts Capital Corp purchased a new position in shares of Extra Space Storage in the 4th quarter valued at about $27,000. EverSource Wealth Advisors LLC increased its stake in shares of Extra Space Storage by 162.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 143 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Extra Space Storage in the 3rd quarter valued at about $32,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

EXR has been the subject of several recent analyst reports. TheStreet upgraded Extra Space Storage from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Raymond James reiterated an “outperform” rating and issued a $160.00 price objective on shares of Extra Space Storage in a report on Thursday, March 28th. Morgan Stanley upgraded Extra Space Storage from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $115.00 to $150.00 in a report on Thursday, December 21st. Barclays assumed coverage on Extra Space Storage in a report on Wednesday, March 27th. They issued an “overweight” rating and a $157.00 price objective on the stock. Finally, Wells Fargo & Company lifted their price objective on Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $150.17.

Extra Space Storage Trading Up 1.2 %

Shares of Extra Space Storage stock opened at $146.32 on Monday. Extra Space Storage Inc. has a 1-year low of $101.19 and a 1-year high of $165.85. The stock has a market cap of $30.96 billion, a P/E ratio of 29.62, a P/E/G ratio of 3.59 and a beta of 0.74. The stock’s 50 day simple moving average is $143.27 and its 200-day simple moving average is $136.35. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.30 and a quick ratio of 0.30.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). Extra Space Storage had a net margin of 31.81% and a return on equity of 8.34%. The business had revenue of $797.77 million during the quarter, compared to analyst estimates of $778.05 million. During the same quarter in the prior year, the company posted $2.09 earnings per share. The company’s revenue was up 57.4% on a year-over-year basis. Analysts predict that Extra Space Storage Inc. will post 8.05 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date was Thursday, March 14th. Extra Space Storage’s dividend payout ratio is presently 131.17%.

Insider Activity at Extra Space Storage

In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $145.00, for a total value of $195,750.00. Following the transaction, the executive vice president now directly owns 37,028 shares in the company, valued at $5,369,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of the business’s stock in a transaction that occurred 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 sale, the chief marketing officer now owns 94,126 shares of the company’s stock, valued at $13,785,693.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total value of $195,750.00. Following the completion of the sale, the executive vice president now directly owns 37,028 shares in the company, valued at approximately $5,369,060. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,532 shares of company stock worth $514,819. Insiders own 1.55% of the company’s stock.

About Extra Space Storage

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.