Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. lowered its stake in shares of Extra Space Storage Inc. (NYSE:EXRFree Report) by 11.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,705 shares of the real estate investment trust’s stock after selling 220 shares during the quarter. Fulton Bank N.A.’s holdings in Extra Space Storage were worth $273,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Private Advisor Group LLC increased its position in shares of Extra Space Storage by 5.6% during the first quarter. Private Advisor Group LLC now owns 1,404 shares of the real estate investment trust’s stock worth $289,000 after acquiring an additional 74 shares during the period. Thomas White International Ltd. increased its holdings in Extra Space Storage by 5.9% in the fourth quarter. Thomas White International Ltd. now owns 1,483 shares of the real estate investment trust’s stock valued at $218,000 after buying an additional 83 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Extra Space Storage by 0.3% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,394 shares of the real estate investment trust’s stock valued at $4,078,000 after buying an additional 95 shares during the last quarter. Spire Wealth Management increased its holdings in Extra Space Storage by 7.4% in the second quarter. Spire Wealth Management now owns 1,451 shares of the real estate investment trust’s stock valued at $216,000 after buying an additional 100 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in Extra Space Storage by 35.2% in the first quarter. Geneos Wealth Management Inc. now owns 384 shares of the real estate investment trust’s stock valued at $78,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 66.40% of the company’s stock.

Insider Activity at Extra Space Storage

In related news, CMO Samrat Sondhi sold 2,048 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $146.46, for a total transaction of $299,950.08. Following the sale, the chief marketing officer now directly owns 94,126 shares in the company, valued at approximately $13,785,693.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CMO Samrat Sondhi sold 2,048 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $146.46, for a total transaction of $299,950.08. Following the sale, the chief marketing officer now directly owns 94,126 shares in the company, valued at approximately $13,785,693.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of Extra Space Storage stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $145.00, for a total value of $195,750.00. Following the sale, the executive vice president now owns 37,028 shares in the company, valued at $5,369,060. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,532 shares of company stock worth $514,819. 1.55% of the stock is currently owned by company insiders.

Extra Space Storage Stock Performance

NYSE:EXR opened at $139.33 on Monday. The firm has a 50-day moving average price of $145.48 and a two-hundred day moving average price of $134.71. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.71. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $165.85. The company has a market capitalization of $29.48 billion, a P/E ratio of 28.20, a price-to-earnings-growth ratio of 3.64 and a beta of 0.74.

Extra Space Storage (NYSE:EXRGet Free Report) last released its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). The firm had revenue of $797.77 million during the quarter, compared to analysts’ expectations of $778.05 million. Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The business’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.09 earnings per share. As a group, research analysts expect that Extra Space Storage Inc. will post 8.04 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be issued a dividend of $1.62 per share. The ex-dividend date is Thursday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.65%. Extra Space Storage’s payout ratio is currently 131.17%.

Analysts Set New Price Targets

Several research firms recently commented on EXR. Deutsche Bank Aktiengesellschaft started coverage on Extra Space Storage in a report on Tuesday, January 30th. They issued a “hold” rating and a $141.00 target price on the stock. Wells Fargo & Company cut their target price on Extra Space Storage from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, March 4th. TheStreet upgraded Extra Space Storage from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Morgan Stanley upgraded Extra Space Storage from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $115.00 to $150.00 in a research report on Thursday, December 21st. Finally, Scotiabank assumed coverage on Extra Space Storage in a research report on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 target price on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $149.33.

Check Out Our Latest Stock Analysis on Extra Space Storage

Extra Space Storage Company Profile

(Free Report)

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 September 30, 2023, the Company owned and/or operated 3,651 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.5 million units and approximately 279.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.

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Institutional Ownership by Quarter for Extra Space Storage (NYSE:EXR)

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