Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. lowered its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 16.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 9,817 shares of the real estate investment trust’s stock after selling 1,914 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Extra Space Storage were worth $1,574,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Whittier Trust Co. lifted its position in Extra Space Storage by 4.5% during the 4th quarter. Whittier Trust Co. now owns 1,656 shares of the real estate investment trust’s stock worth $266,000 after acquiring an additional 72 shares during the period. EverSource Wealth Advisors LLC lifted its holdings 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 buying an additional 143 shares during the period. Zions Bancorporation N.A. lifted its holdings 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 buying an additional 150 shares during the period. Marshall Financial Group LLC lifted its holdings in shares of Extra Space Storage by 3.1% in the 3rd quarter. Marshall Financial Group LLC now owns 5,132 shares of the real estate investment trust’s stock valued at $624,000 after buying an additional 154 shares during the period. Finally, Gallacher Capital Management LLC lifted its holdings in shares of Extra Space Storage by 2.0% in the 3rd quarter. Gallacher Capital Management LLC now owns 7,914 shares of the real estate investment trust’s stock valued at $962,000 after buying an additional 154 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Activity

In other news, CMO Samrat Sondhi sold 2,048 shares of the company’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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CMO Samrat Sondhi sold 2,048 shares of the company’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 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the company’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 transaction, the executive vice president now owns 37,028 shares in the company, valued at $5,369,060. The disclosure for this sale can be found here. Insiders sold 3,532 shares of company stock worth $514,819 over the last ninety days. Corporate insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on EXR shares. Wells Fargo & Company boosted their price objective on Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, April 5th. StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. Raymond James reissued an “outperform” rating and issued a $160.00 price objective on shares of Extra Space Storage in a report on Thursday, March 28th. Scotiabank initiated coverage on 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. Finally, Truist Financial lifted their price target on Extra Space Storage from $138.00 to $152.00 and gave the company a “hold” rating in a research note on Thursday, December 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $150.17.

Extra Space Storage Price Performance

NYSE:EXR opened at $132.74 on Tuesday. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $164.99. The stock has a 50 day moving average of $142.39 and a two-hundred day moving average of $137.93. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.71. The firm has a market cap of $28.09 billion, a P/E ratio of 26.87, a price-to-earnings-growth ratio of 3.25 and a beta of 0.74.

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 analysts’ consensus estimates of $2.03 by ($1.01). The company had revenue of $797.77 million during the quarter, compared to analysts’ expectations of $778.05 million. Extra Space Storage had a net margin of 31.81% and a return on equity of 8.34%. Extra Space Storage’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same quarter last year, the company earned $2.09 earnings per share. On average, analysts expect that Extra Space Storage Inc. will post 8.05 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $1.62 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.88%. Extra Space Storage’s dividend payout ratio (DPR) is presently 131.17%.

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.