1,716 Shares in Extra Space Storage Inc. (NYSE:EXR) Bought by Cetera Trust Company N.A

Cetera Trust Company N.A bought a new position in shares of Extra Space Storage Inc. (NYSE:EXR) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,716 shares of the real estate investment trust’s stock, valued at approximately $275,000.

Several other institutional investors and hedge funds have also bought and sold shares of EXR. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Extra Space Storage by 17.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,087 shares of the real estate investment trust’s stock worth $18,933,000 after buying an additional 17,163 shares during the last quarter. NewEdge Wealth LLC acquired a new position in Extra Space Storage during the third quarter worth $341,000. Vanguard Personalized Indexing Management LLC raised its holdings in Extra Space Storage by 110.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,914 shares of the real estate investment trust’s stock worth $1,448,000 after buying an additional 6,262 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in Extra Space Storage by 8.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,724,293 shares of the real estate investment trust’s stock worth $436,786,000 after buying an additional 211,395 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Extra Space Storage by 55.7% during the third quarter. Vanguard Group Inc. now owns 33,686,341 shares of the real estate investment trust’s stock worth $4,095,585,000 after buying an additional 12,055,172 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Stock Performance

NYSE EXR opened at $132.46 on Monday. Extra Space Storage Inc. has a 52-week low of $101.19 and a 52-week high of $164.99. The company has a 50-day simple moving average of $142.57 and a 200 day simple moving average of $137.82. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market capitalization of $28.03 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 3.25 and a beta of 0.74.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The company had revenue of $797.77 million for the quarter, compared to analysts’ expectations of $778.05 million. During the same quarter last year, the business posted $2.09 EPS. The business’s quarterly revenue was up 57.4% on a year-over-year basis. On average, research analysts predict that Extra Space Storage Inc. will post 8.05 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.89%. Extra Space Storage’s dividend payout ratio is presently 131.17%.

Insiders Place Their Bets

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the transaction, the executive vice president now owns 37,028 shares in the company, valued at $5,369,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the transaction, the executive vice president now owns 37,028 shares in the company, valued at $5,369,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Samrat Sondhi sold 2,048 shares of the 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 transaction, the chief marketing officer now owns 94,126 shares of the company’s stock, valued at approximately $13,785,693.96. The disclosure for this sale can be found here. Insiders sold 3,532 shares of company stock worth $514,819 over the last quarter. 1.36% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on EXR shares. Barclays started coverage on shares of Extra Space Storage in a report on Wednesday, March 27th. They set an “overweight” rating and a $157.00 price objective on the stock. Truist Financial increased their target price on shares of Extra Space Storage from $138.00 to $152.00 and gave the company a “hold” rating in a report on Thursday, December 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Extra Space Storage in a report on Tuesday, January 30th. They issued a “hold” rating and a $141.00 target price for the company. TheStreet upgraded shares of Extra Space Storage from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Finally, Scotiabank assumed coverage on shares of Extra Space Storage in a report on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 target price for the company. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $150.17.

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.