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

Whittier Trust Co. decreased its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 14.7% during the fourth quarter, HoldingsChannel reports. The firm owned 1,413 shares of the real estate investment trust’s stock after selling 243 shares during the quarter. Whittier Trust Co.’s holdings in Extra Space Storage were worth $211,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of EXR. Empowered Funds LLC increased its stake in Extra Space Storage by 7.2% during the 3rd quarter. Empowered Funds LLC now owns 3,928 shares of the real estate investment trust’s stock valued at $708,000 after purchasing an additional 264 shares in the last quarter. Pathstone Holdings LLC increased its stake in shares of Extra Space Storage by 1.1% in the third quarter. Pathstone Holdings LLC now owns 13,027 shares of the real estate investment trust’s stock worth $2,347,000 after acquiring an additional 148 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Extra Space Storage in the third quarter worth $1,144,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Extra Space Storage in the third quarter worth $334,000. Finally, Cerity Partners LLC increased its stake in shares of Extra Space Storage by 39.9% in the third quarter. Cerity Partners LLC now owns 14,426 shares of the real estate investment trust’s stock worth $2,599,000 after acquiring an additional 4,114 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Friday, February 21st. Royal Bank of Canada cut their price objective on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Barclays cut their price objective on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. Scotiabank cut their price objective on shares of Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 5th. Finally, StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Friday, March 7th. Two investment 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $171.09.

Extra Space Storage Stock Performance

EXR opened at $143.92 on Monday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The company has a market cap of $30.51 billion, a price-to-earnings ratio of 37.67, a PEG ratio of 7.76 and a beta of 0.90. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87. The firm’s fifty day simple moving average is $152.76 and its two-hundred day simple moving average is $160.95.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.93. The business had revenue of $821.90 million for the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. Equities analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s payout ratio is 160.40%.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at $2,470,286.90. This represents a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph J. Bonner sold 672 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $149.10, for a total transaction of $100,195.20. Following the completion of the sale, the director now owns 4,557 shares of the company’s stock, valued at $679,448.70. This trade represents a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,392 shares of company stock worth $1,396,515 over the last three months. Insiders own 1.36% of the company’s stock.

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.