Stock Yards Bank & Trust Co. Lowers Stock Position in Extra Space Storage Inc $EXR

Stock Yards Bank & Trust Co. lessened its holdings in Extra Space Storage Inc (NYSE:EXR) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,778 shares of the real estate investment trust’s stock after selling 107 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Extra Space Storage were worth $1,147,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC lifted its position in shares of Extra Space Storage by 8.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 934 shares of the real estate investment trust’s stock valued at $139,000 after acquiring an additional 73 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its position in shares of Extra Space Storage by 4.6% during the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,825 shares of the real estate investment trust’s stock valued at $269,000 after acquiring an additional 80 shares during the period. Naviter Wealth LLC lifted its position in shares of Extra Space Storage by 0.6% during the 1st quarter. Naviter Wealth LLC now owns 13,645 shares of the real estate investment trust’s stock valued at $2,007,000 after acquiring an additional 82 shares during the period. Taylor Frigon Capital Management LLC lifted its position in shares of Extra Space Storage by 0.8% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 12,248 shares of the real estate investment trust’s stock valued at $1,819,000 after acquiring an additional 93 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in shares of Extra Space Storage by 6.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,559 shares of the real estate investment trust’s stock valued at $230,000 after acquiring an additional 95 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Wall Street Analyst Weigh In

EXR has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Extra Space Storage in a research report on Saturday, September 27th. Wall Street Zen downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, September 26th. Citigroup cut their price objective on Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Friday, August 22nd. BNP Paribas Exane began coverage on Extra Space Storage in a research report on Tuesday, June 24th. They set a “neutral” rating and a $156.00 price objective for the company. Finally, Barclays cut their price objective on Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Extra Space Storage presently has a consensus rating of “Hold” and an average target price of $148.64.

Extra Space Storage Trading Up 1.1%

Shares of Extra Space Storage stock opened at $142.97 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.29 and a quick ratio of 0.29. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $175.57. The company has a market capitalization of $30.35 billion, a P/E ratio of 31.01, a P/E/G ratio of 3.46 and a beta of 1.11. The business has a 50 day moving average price of $141.34 and a 200 day moving average price of $144.43.

Extra Space Storage (NYSE:EXR) last released its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.01). The firm had revenue of $841.62 million during the quarter, compared to analysts’ expectations of $719.43 million. Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.The firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.06 earnings per share. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Sell-side analysts anticipate that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Monday, September 15th. Extra Space Storage’s payout ratio is presently 140.56%.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $141.41, for a total value of $1,060,575.00. Following the completion of the sale, the chief executive officer directly owned 19,760 shares of the company’s stock, valued at approximately $2,794,261.60. The trade was a 27.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.96% of the company’s stock.

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.