MassMutual Private Wealth & Trust FSB Acquires 196 Shares of Extra Space Storage Inc. (NYSE:EXR)

MassMutual Private Wealth & Trust FSB increased its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 42.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 660 shares of the real estate investment trust’s stock after acquiring an additional 196 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Extra Space Storage were worth $98,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of EXR. Exchange Traded Concepts LLC raised its stake in shares of Extra Space Storage by 13.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 861 shares of the real estate investment trust’s stock worth $129,000 after acquiring an additional 104 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Extra Space Storage by 131.9% during the 4th quarter. Blue Trust Inc. now owns 2,078 shares of the real estate investment trust’s stock worth $311,000 after acquiring an additional 1,182 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Extra Space Storage by 7.5% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,852 shares of the real estate investment trust’s stock worth $1,025,000 after acquiring an additional 476 shares in the last quarter. Golden State Equity Partners raised its stake in shares of Extra Space Storage by 36.1% during the 4th quarter. Golden State Equity Partners now owns 3,245 shares of the real estate investment trust’s stock worth $485,000 after acquiring an additional 861 shares in the last quarter. Finally, Greenleaf Trust raised its stake in shares of Extra Space Storage by 15.0% during the 4th quarter. Greenleaf Trust now owns 2,160 shares of the real estate investment trust’s stock worth $323,000 after acquiring an additional 282 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Up 0.1%

EXR stock opened at $150.89 on Monday. The firm’s fifty day simple moving average is $143.60 and its 200-day simple moving average is $150.82. The company has a market capitalization of $32.02 billion, a P/E ratio of 39.50, a price-to-earnings-growth ratio of 7.76 and a beta of 1.14. 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 $121.03 and a 12 month high of $184.87.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, beating the consensus estimate of $1.96 by $0.04. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $820.00 million for the quarter, compared to the consensus estimate of $705.12 million. During the same period in the prior year, the firm earned $1.96 EPS. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, equities research analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend is Monday, June 16th. Extra Space Storage’s dividend payout ratio (DPR) is presently 150.35%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. Royal Bank of Canada dropped their target price on shares of Extra Space Storage from $163.00 to $160.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 1st. Bank of America boosted their target price on shares of Extra Space Storage from $155.00 to $161.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 13th. Barclays dropped their target price on shares of Extra Space Storage from $181.00 to $178.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Finally, Benchmark dropped their target price on shares of Extra Space Storage from $61.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Extra Space Storage has an average rating of “Moderate Buy” and an average target price of $159.38.

Insider Buying and Selling

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 9,190 shares of the company’s stock, valued at approximately $1,355,065.50. This 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 this hyperlink. Also, Director Joseph J. Bonner sold 672 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total transaction of $100,195.20. Following the sale, the director now directly owns 4,557 shares in the company, 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. 0.96% of the stock is currently owned by insiders.

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.