Extra Space Storage Inc. (NYSE:EXR) Shares Bought by Huntington National Bank

Huntington National Bank lifted its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 5.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,878 shares of the real estate investment trust’s stock after purchasing an additional 103 shares during the period. Huntington National Bank’s holdings in Extra Space Storage were worth $338,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its holdings in shares of Extra Space Storage by 25.6% in the 1st quarter. Empowered Funds LLC now owns 3,192 shares of the real estate investment trust’s stock valued at $469,000 after acquiring an additional 651 shares during the period. QRG Capital Management Inc. raised its stake in Extra Space Storage by 5.2% during the 1st quarter. QRG Capital Management Inc. now owns 1,588 shares of the real estate investment trust’s stock valued at $233,000 after acquiring an additional 78 shares during the last quarter. Bleakley Financial Group LLC lifted its position in Extra Space Storage by 10.5% during the 1st quarter. Bleakley Financial Group LLC now owns 1,652 shares of the real estate investment trust’s stock worth $243,000 after acquiring an additional 157 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Extra Space Storage by 19.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 247,203 shares of the real estate investment trust’s stock valued at $36,307,000 after purchasing an additional 40,055 shares during the last quarter. Finally, Intech Investment Management LLC increased its stake in Extra Space Storage by 138.7% in the 1st quarter. Intech Investment Management LLC now owns 5,405 shares of the real estate investment trust’s stock valued at $795,000 after buying an additional 3,141 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total value of $1,338,900.00. Following the completion of the sale, the chief executive officer now directly owns 24,190 shares in the company, valued at approximately $4,318,398.80. The trade was a 23.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William N. Springer sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total transaction of $350,660.00. Following the transaction, the executive vice president now directly owns 11,919 shares in the company, valued at approximately $2,089,758.27. This represents a 14.37 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,970 shares of company stock worth $3,367,307. 1.36% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on EXR. Raymond James raised their target price on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Bank of America downgraded Extra Space Storage from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $172.00 to $155.00 in a research note on Monday, August 5th. Truist Financial upped their price objective on Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Scotiabank boosted their target price on shares of Extra Space Storage from $159.00 to $169.00 and gave the stock a “sector underperform” rating in a research report on Thursday, August 22nd. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $175.00 price target on shares of Extra Space Storage in a report on Monday, October 21st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $171.50.

Extra Space Storage Trading Up 0.7 %

Shares of EXR stock opened at $164.56 on Friday. The company has a market capitalization of $34.88 billion, a price-to-earnings ratio of 43.08, a PEG ratio of 8.26 and a beta of 0.87. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $171.50 and a 200 day moving average price of $162.46. Extra Space Storage Inc. has a twelve month low of $125.32 and a twelve month high of $184.87.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.12). Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm had revenue of $824.80 million for the quarter, compared to analysts’ expectations of $826.93 million. During the same period in the previous year, the company posted $2.02 EPS. The business’s quarterly revenue was up 10.2% on a year-over-year basis. Research analysts forecast that Extra Space Storage Inc. will post 8.09 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.94%. Extra Space Storage’s dividend payout ratio is currently 169.63%.

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.