Extra Space Storage Inc. (NYSE:EXR) Stock Position Lifted by Huntington National Bank

Huntington National Bank lifted its position in Extra Space Storage Inc. (NYSE:EXR) by 19.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,250 shares of the real estate investment trust’s stock after acquiring an additional 372 shares during the quarter. Huntington National Bank’s holdings in Extra Space Storage were worth $337,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EXR. Golden State Wealth Management LLC bought a new stake in Extra Space Storage during the fourth quarter valued at $25,000. Harbour Investments Inc. raised its stake in Extra Space Storage by 90.9% during the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 80 shares during the period. Quent Capital LLC lifted its holdings in Extra Space Storage by 89.0% in the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 154 shares during the last quarter. Asset Planning Inc acquired a new position in Extra Space Storage in the fourth quarter valued at approximately $52,000. Finally, Kestra Investment Management LLC bought a new position in shares of Extra Space Storage during the fourth quarter valued at approximately $54,000. 99.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EXR. Wells Fargo & Company reduced their price objective on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. Barclays reduced their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday, March 7th. The Goldman Sachs Group reiterated a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Finally, Royal Bank of Canada decreased their target price on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $171.09.

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the completion of the sale, the chief executive officer now directly owns 9,190 shares in the company, valued at approximately $1,355,065.50. This trade represents a 44.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph J. Bonner sold 672 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the transaction, the director now directly owns 4,557 shares in the company, valued at $679,448.70. This represents a 12.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,392 shares of company stock valued at $1,392,315 in the last quarter. Insiders own 1.36% of the company’s stock.

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $138.05 on Friday. The stock has a market cap of $29.27 billion, a price-to-earnings ratio of 36.14, a PEG ratio of 7.76 and a beta of 0.90. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. Extra Space Storage Inc. has a 12 month low of $131.02 and a 12 month high of $184.87. The stock’s 50 day moving average price is $151.74 and its 200 day moving average price is $159.02.

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

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $1.62 per share. The ex-dividend date was Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.69%. Extra Space Storage’s dividend payout ratio (DPR) is 160.40%.

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.