Extra Space Storage Inc. (NYSE:EXR) Stock Holdings Lessened by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB cut its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 31.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,474 shares of the real estate investment trust’s stock after selling 1,155 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Extra Space Storage were worth $370,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. D Orazio & Associates Inc. grew its holdings in shares of Extra Space Storage by 23.5% during the 4th quarter. D Orazio & Associates Inc. now owns 1,566 shares of the real estate investment trust’s stock valued at $234,000 after acquiring an additional 298 shares in the last quarter. Apollon Wealth Management LLC boosted its position in Extra Space Storage by 12.8% during the fourth quarter. Apollon Wealth Management LLC now owns 4,747 shares of the real estate investment trust’s stock valued at $710,000 after purchasing an additional 538 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in Extra Space Storage in the fourth quarter valued at about $25,000. Lecap Asset Management Ltd. acquired a new position in Extra Space Storage in the 4th quarter worth about $563,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Extra Space Storage by 5.1% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 67,196 shares of the real estate investment trust’s stock worth $10,053,000 after purchasing an additional 3,290 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Scotiabank raised Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price target for the company in a research note on Friday, January 10th. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. Truist Financial increased their price target on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $175.00 price objective on shares of Extra Space Storage in a research note on Monday, October 21st. Finally, Barclays lowered their target price on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $174.00.

Extra Space Storage Stock Up 0.6 %

EXR stock opened at $157.45 on Wednesday. The stock has a market capitalization of $33.38 billion, a price-to-earnings ratio of 41.22, a price-to-earnings-growth ratio of 7.77 and a beta of 0.91. The company has a 50-day moving average of $152.80 and a two-hundred day moving average of $164.17. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $6.48 annualized dividend and a yield of 4.12%. Extra Space Storage’s payout ratio is 169.63%.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the sale, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Diane Olmstead sold 3,081 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $164.56, for a total transaction of $507,009.36. Following the transaction, the director now directly owns 5,877 shares in the company, valued at $967,119.12. This trade represents a 34.39 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

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.