Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Greenleaf Trust

Greenleaf Trust lessened its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 29.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,835 shares of the real estate investment trust’s stock after selling 750 shares during the quarter. Greenleaf Trust’s holdings in Extra Space Storage were worth $294,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zions Bancorporation N.A. lifted its holdings in Extra Space Storage by 241.9% during the third 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. Anchor Investment Management LLC purchased a new position in Extra Space Storage during the fourth quarter valued at $35,000. EverSource Wealth Advisors LLC lifted its holdings in Extra Space Storage by 162.5% during the third 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. Bruce G. Allen Investments LLC purchased a new position in Extra Space Storage during the fourth quarter valued at $41,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in Extra Space Storage during the third quarter valued at $32,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Trading Up 0.4 %

Shares of EXR stock opened at $133.30 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a market capitalization of $28.21 billion, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 3.25 and a beta of 0.74. The company has a 50 day moving average price of $142.28 and a 200 day moving average price of $138.03. Extra Space Storage Inc. has a fifty-two week low of $101.19 and a fifty-two week high of $164.99.

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

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.86%. The ex-dividend date was Thursday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 131.17%.

Analyst Upgrades and Downgrades

EXR has been the topic of several recent analyst reports. Scotiabank initiated coverage on shares of Extra Space Storage in a report on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 price objective on the stock. Barclays started coverage on shares of Extra Space Storage in a report on Wednesday, March 27th. They set an “overweight” rating and a $157.00 price objective on the stock. Raymond James reissued an “outperform” rating and issued a $160.00 price target on shares of Extra Space Storage in a research note on Thursday, March 28th. Truist Financial raised their price target on shares of Extra Space Storage from $138.00 to $152.00 and gave the stock a “hold” rating in a research note on Thursday, December 28th. Finally, The Goldman Sachs Group raised their price target on shares of Extra Space Storage from $168.00 to $187.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $150.17.

Insider Buying and Selling at Extra Space Storage

In other news, EVP Gwyn Goodson Mcneal sold 1,350 shares of Extra Space Storage stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the sale, the executive vice president now directly owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CMO Samrat Sondhi sold 2,048 shares of the business’s stock in a transaction on Monday, March 4th. The shares were 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 in the company, valued at $13,785,693.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $145.00, for a total transaction of $195,750.00. Following the transaction, the executive vice president now owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,532 shares of company stock valued at $514,819. Insiders own 1.36% 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.