Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC trimmed its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 10.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,774 shares of the real estate investment trust’s stock after selling 210 shares during the period. Summit Trail Advisors LLC’s holdings in Extra Space Storage were worth $265,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. State Street Corp raised its holdings in Extra Space Storage by 1.7% during the third quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust’s stock worth $2,412,894,000 after purchasing an additional 227,006 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Extra Space Storage by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,366,107 shares of the real estate investment trust’s stock valued at $426,349,000 after buying an additional 111,137 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Extra Space Storage by 10.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,020,459 shares of the real estate investment trust’s stock worth $364,066,000 after buying an additional 189,949 shares during the last quarter. Pathway Financial Advisers LLC raised its stake in shares of Extra Space Storage by 17,832.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust’s stock worth $363,783,000 after buying an additional 2,007,626 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Extra Space Storage by 724.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust’s stock worth $357,100,000 after buying an additional 1,741,320 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Performance

NYSE EXR opened at $154.84 on Thursday. 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 company has a market capitalization of $32.82 billion, a PE ratio of 40.53, a price-to-earnings-growth ratio of 7.77 and a beta of 0.91. The business’s 50-day moving average price is $152.64 and its 200 day moving average price is $164.12. Extra Space Storage Inc. has a twelve month low of $131.02 and a twelve month high of $184.87.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a $1.62 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $6.48 annualized dividend and a dividend yield of 4.18%. Extra Space Storage’s dividend payout ratio is presently 169.63%.

Insider Activity at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction 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 $2,470,286.90. The trade was a 31.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Diane Olmstead sold 3,081 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $164.56, for a total value of $507,009.36. Following the sale, the director now owns 5,877 shares of the company’s stock, valued at approximately $967,119.12. The trade was a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

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.