Truist Financial Corp Has $5.98 Million Stake in Extra Space Storage Inc. (NYSE:EXR)

Truist Financial Corp reduced its position in Extra Space Storage Inc. (NYSE:EXR) by 0.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 37,268 shares of the real estate investment trust’s stock after selling 214 shares during the period. Truist Financial Corp’s holdings in Extra Space Storage were worth $5,975,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Extra Space Storage by 17.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,087 shares of the real estate investment trust’s stock valued at $18,933,000 after purchasing an additional 17,163 shares during the last quarter. NewEdge Wealth LLC bought a new stake in shares of Extra Space Storage during the 3rd quarter worth about $341,000. Vanguard Personalized Indexing Management LLC grew its stake in Extra Space Storage by 110.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,914 shares of the real estate investment trust’s stock valued at $1,448,000 after buying an additional 6,262 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in Extra Space Storage by 8.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,724,293 shares of the real estate investment trust’s stock valued at $436,786,000 after acquiring an additional 211,395 shares during the period. Finally, Vanguard Group Inc. lifted its position in Extra Space Storage by 55.7% during the third quarter. Vanguard Group Inc. now owns 33,686,341 shares of the real estate investment trust’s stock worth $4,095,585,000 after acquiring an additional 12,055,172 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Insider Activity 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 shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the transaction, the chief marketing officer now 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 can be accessed through this hyperlink. In related news, CMO Samrat Sondhi sold 2,048 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the transaction, the chief marketing officer now directly owns 94,126 shares in the company, valued at $13,785,693.96. The transaction 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 company’s stock in a transaction dated Thursday, March 7th. The stock was 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 $5,369,060. The disclosure for this sale can be found here. Insiders have sold a total of 3,532 shares of company stock worth $514,819 in the last 90 days. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Trading Up 1.5 %

Shares of NYSE EXR opened at $141.87 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.30 and a current ratio of 0.15. Extra Space Storage Inc. has a 52-week low of $101.19 and a 52-week high of $164.99. The stock has a market cap of $30.02 billion, a P/E ratio of 31.60, a price-to-earnings-growth ratio of 3.43 and a beta of 0.76. The firm has a 50 day moving average price of $141.56 and a two-hundred day moving average price of $138.84.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.01). The company 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%. The business’s revenue was up 57.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.09 earnings per share. As a group, equities analysts forecast that Extra Space Storage Inc. will post 8.05 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date was Thursday, March 14th. Extra Space Storage’s dividend payout ratio is 144.32%.

Analysts Set New Price Targets

EXR has been the topic of several research reports. Wells Fargo & Company upped their target price on Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. The Goldman Sachs Group boosted their price objective 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. Deutsche Bank Aktiengesellschaft initiated coverage on Extra Space Storage in a research note on Tuesday, January 30th. They set a “hold” rating and a $141.00 price objective on the stock. TheStreet upgraded Extra Space Storage from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Finally, Raymond James reiterated an “outperform” rating and set a $160.00 price target on shares of Extra Space Storage in a research report on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.