Castellan Group Sells 1,947 Shares of Extra Space Storage Inc. (NYSE:EXR)

Castellan Group trimmed its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 8.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 21,185 shares of the real estate investment trust’s stock after selling 1,947 shares during the quarter. Castellan Group’s holdings in Extra Space Storage were worth $3,169,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Pathway Financial Advisers LLC lifted its stake in shares of Extra Space Storage by 17,832.9% in the third quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust’s stock worth $363,783,000 after buying an additional 2,007,626 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Extra Space Storage by 724.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust’s stock worth $357,100,000 after acquiring an additional 1,741,320 shares during the last quarter. Manning & Napier Advisors LLC raised its holdings in Extra Space Storage by 1,127.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust’s stock worth $116,985,000 after acquiring an additional 718,266 shares during the last quarter. Mizuho Securities USA LLC raised its holdings in Extra Space Storage by 1,664.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 288,094 shares of the real estate investment trust’s stock worth $51,912,000 after acquiring an additional 271,765 shares during the last quarter. Finally, Hamlin Capital Management LLC raised its holdings in Extra Space Storage by 44.8% in the 3rd quarter. Hamlin Capital Management LLC now owns 766,043 shares of the real estate investment trust’s stock worth $138,033,000 after acquiring an additional 236,908 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Trading Down 1.7 %

Shares of NYSE:EXR opened at $154.84 on Thursday. The stock has a market capitalization of $32.82 billion, a price-to-earnings ratio of 40.53, a PEG ratio of 7.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The stock’s 50-day simple moving average is $152.64 and its two-hundred day simple moving average is $164.12. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $1.62 dividend. The ex-dividend date was Monday, December 16th. This represents a $6.48 annualized dividend and a yield of 4.18%. Extra Space Storage’s payout ratio is 169.63%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EXR. Barclays decreased 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. Truist Financial boosted their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Wells Fargo & Company restated an “equal weight” rating and issued a $175.00 price objective on shares of Extra Space Storage in a report on Monday, October 21st. Finally, Scotiabank upgraded shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective for the company in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $174.00.

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.