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

Huntington National Bank raised its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 5.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,878 shares of the real estate investment trust’s stock after buying 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.

Several other large investors also recently made changes to their positions in EXR. EdgeRock Capital LLC purchased a new stake in Extra Space Storage during the 2nd quarter worth $25,000. Centerpoint Advisors LLC acquired a new position in shares of Extra Space Storage during the second quarter worth about $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Extra Space Storage in the third quarter worth about $33,000. Blue Trust Inc. grew its stake in shares of Extra Space Storage by 540.5% in the second quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 200 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Extra Space Storage by 2,760.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 276 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Activity

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $177.01, for a total transaction of $499,699.23. Following the completion of the transaction, the executive vice president now directly owns 32,855 shares of the company’s stock, valued at $5,815,663.55. The trade was a 7.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage 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 sale, the chief executive officer now directly owns 24,190 shares in the company, valued at approximately $4,318,398.80. This trade represents a 23.67 % 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 valued at $3,367,307. 1.36% of the stock is currently owned by insiders.

Extra Space Storage Stock Performance

EXR stock opened at $164.56 on Friday. The stock’s 50 day simple moving average is $171.50 and its 200 day simple moving average is $162.46. Extra Space Storage Inc. has a 12-month low of $125.32 and a 12-month high of $184.87. The firm has a market cap of $34.88 billion, a P/E ratio of 43.08, a P/E/G 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.

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

Extra Space Storage Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on EXR shares. 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. Royal Bank of Canada initiated coverage on shares of Extra Space Storage in a report on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 price target for the company. Barclays boosted their price objective on shares of Extra Space Storage from $188.00 to $192.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Jefferies Financial Group upgraded Extra Space Storage from a “hold” rating to a “buy” rating and raised their target price for the company from $162.00 to $204.00 in a research note on Wednesday, September 18th. Finally, Truist Financial lifted their target price on Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $171.50.

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.