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

Cetera Trust Company N.A raised its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 11.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,971 shares of the real estate investment trust’s stock after purchasing an additional 200 shares during the period. Cetera Trust Company N.A’s holdings in Extra Space Storage were worth $293,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund boosted its holdings in shares of Extra Space Storage by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,160 shares of the real estate investment trust’s stock valued at $2,717,000 after purchasing an additional 66 shares during the last quarter. Lindbrook Capital LLC increased its holdings in shares of Extra Space Storage by 14.9% during the 4th quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust’s stock worth $78,000 after buying an additional 68 shares during the last quarter. Aptus Capital Advisors LLC raised its position in shares of Extra Space Storage by 4.3% in the 4th quarter. Aptus Capital Advisors LLC now owns 1,638 shares of the real estate investment trust’s stock worth $245,000 after buying an additional 68 shares during the period. Siemens Fonds Invest GmbH boosted its holdings in Extra Space Storage by 3.0% in the fourth quarter. Siemens Fonds Invest GmbH now owns 2,320 shares of the real estate investment trust’s stock valued at $342,000 after acquiring an additional 68 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in Extra Space Storage by 5.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,327 shares of the real estate investment trust’s stock valued at $199,000 after acquiring an additional 73 shares during the period. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Extra Space Storage

In related news, Director Joseph J. Bonner sold 672 shares of Extra Space Storage stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total transaction of $100,195.20. Following the completion of the sale, the director now owns 4,557 shares of the company’s stock, valued at approximately $679,448.70. This trade represents a 12.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the completion of the sale, the chief executive officer now directly owns 9,190 shares of the company’s stock, valued at approximately $1,355,065.50. The trade was a 44.94% decrease in their position. The disclosure for this sale can be found here. 0.96% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

EXR has been the topic of several research analyst reports. Mizuho lifted their price objective on Extra Space Storage from $141.00 to $153.00 and gave the company an “outperform” rating in a research note on Wednesday, May 28th. Benchmark cut their target price on shares of Extra Space Storage from $61.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Scotiabank raised their price objective on Extra Space Storage from $149.00 to $166.00 and gave the company a “sector outperform” rating in a research report on Monday, May 12th. Finally, Barclays decreased their target price on Extra Space Storage from $181.00 to $178.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Extra Space Storage has an average rating of “Moderate Buy” and a consensus target price of $159.33.

Extra Space Storage Price Performance

EXR stock opened at $149.93 on Monday. The stock’s 50 day moving average is $143.99 and its two-hundred day moving average is $150.29. Extra Space Storage Inc. has a 52-week low of $121.03 and a 52-week high of $184.87. The company has a market capitalization of $31.82 billion, a PE ratio of 39.25, a P/E/G ratio of 7.76 and a beta of 1.11. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.04. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm had revenue of $820.00 million for the quarter, compared to the consensus estimate of $705.12 million. During the same period in the prior year, the firm posted $1.96 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. Analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date is Monday, June 16th. Extra Space Storage’s dividend payout ratio (DPR) is 150.35%.

Extra Space Storage 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.