Greenleaf Trust Reduces Holdings in Extra Space Storage Inc. (NYSE:EXR)

Greenleaf Trust trimmed its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 29.0% in the fourth quarter, HoldingsChannel reports. The firm owned 1,835 shares of the real estate investment trust’s stock after selling 750 shares during the period. Greenleaf Trust’s holdings in Extra Space Storage were worth $294,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Whittier Trust Co. increased its stake in shares of 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 purchasing an additional 72 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position 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 worth $28,000 after acquiring an additional 143 shares during the last quarter. Zions Bancorporation N.A. boosted its position 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 worth $26,000 after acquiring an additional 150 shares during the last quarter. Marshall Financial Group LLC boosted its position in Extra Space Storage by 3.1% during the third quarter. Marshall Financial Group LLC now owns 5,132 shares of the real estate investment trust’s stock worth $624,000 after acquiring an additional 154 shares during the last quarter. Finally, Gallacher Capital Management LLC boosted its position in Extra Space Storage by 2.0% during the third quarter. Gallacher Capital Management LLC now owns 7,914 shares of the real estate investment trust’s stock worth $962,000 after acquiring an additional 154 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EXR. TheStreet upgraded shares of Extra Space Storage from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Truist Financial raised their target price on shares of Extra Space Storage from $138.00 to $152.00 and gave the stock a “hold” rating in a research report on Thursday, December 28th. Scotiabank started coverage on shares of Extra Space Storage in a research report on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 target price on the stock. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. Finally, The Goldman Sachs Group lifted their price target 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. Two equities 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 an average target price of $150.17.

Insider Buying and Selling

In related news, CMO Samrat Sondhi sold 2,048 shares of Extra Space Storage 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 sale, the chief marketing officer now owns 94,126 shares of the company’s stock, valued at approximately $13,785,693.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related 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 sale, the executive vice president now owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Samrat Sondhi sold 2,048 shares of Extra Space Storage stock in a transaction on Monday, March 4th. The stock was sold at an average price of $146.46, for a total transaction of $299,950.08. Following the sale, the chief marketing officer now directly owns 94,126 shares in the company, valued at approximately $13,785,693.96. The disclosure for this sale can be found here. Insiders have sold 3,532 shares of company stock valued at $514,819 in the last quarter. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $133.30 on Wednesday. The company’s fifty day simple moving average is $142.28 and its 200-day simple moving average is $138.03. Extra Space Storage Inc. has a 52 week low of $101.19 and a 52 week high of $164.99. 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 company has a market cap of $28.21 billion, a PE ratio of 26.98, a P/E/G ratio of 3.25 and a beta of 0.74.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). Extra Space Storage had a net margin of 31.81% and a return on equity of 8.34%. The business had revenue of $797.77 million during the quarter, compared to analysts’ expectations of $778.05 million. During the same period in the prior year, the business posted $2.09 EPS. The business’s revenue was up 57.4% on a year-over-year basis. As a group, equities research analysts anticipate that Extra Space Storage Inc. will post 8.05 EPS for the current year.

Extra Space Storage Announces Dividend

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