Extra Space Storage Inc. (NYSE:EXR) Shares Sold by UMB Bank n.a.

UMB Bank n.a. cut its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 95.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 831 shares of the real estate investment trust’s stock after selling 17,853 shares during the quarter. UMB Bank n.a.’s holdings in Extra Space Storage were worth $124,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mercer Global Advisors Inc. ADV grew its stake in Extra Space Storage by 8.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 3,599 shares of the real estate investment trust’s stock worth $568,000 after buying an additional 270 shares during the last quarter. Blair William & Co. IL acquired a new position in shares of Extra Space Storage during the second quarter valued at $221,000. Benjamin F. Edwards & Company Inc. grew its position in shares of Extra Space Storage by 3.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,730 shares of the real estate investment trust’s stock worth $424,000 after acquiring an additional 94 shares during the last quarter. Profund Advisors LLC increased its holdings in shares of Extra Space Storage by 2.9% in the 2nd quarter. Profund Advisors LLC now owns 3,279 shares of the real estate investment trust’s stock worth $510,000 after acquiring an additional 93 shares during the period. Finally, ProShare Advisors LLC lifted its position in Extra Space Storage by 5.9% in the 2nd quarter. ProShare Advisors LLC now owns 37,384 shares of the real estate investment trust’s stock valued at $5,810,000 after purchasing an additional 2,093 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Trading Up 1.0 %

Shares of NYSE:EXR opened at $151.54 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The stock has a market capitalization of $32.12 billion, a price-to-earnings ratio of 39.67, a PEG ratio of 7.57 and a beta of 0.91. Extra Space Storage Inc. has a 1-year low of $131.02 and a 1-year high of $184.87. The company has a 50 day moving average price of $156.45 and a 200 day moving average price of $164.83.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.12). The company had revenue of $824.80 million for the quarter, compared to the consensus estimate of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.02 earnings per share. On average, research analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $6.48 annualized dividend and a yield of 4.28%. Extra Space Storage’s payout ratio is presently 169.63%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on EXR shares. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Evercore ISI lowered their target price on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a research report on Monday, October 14th. Barclays reduced their price target on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Wells Fargo & Company reissued an “equal weight” rating and set a $175.00 price target on shares of Extra Space Storage in a report on Monday, October 21st. Finally, Scotiabank raised shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective for the company in a report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $171.25.

Insider Buying and Selling at Extra Space Storage

In other news, Director Diane Olmstead sold 3,081 shares of Extra Space Storage stock in a transaction on Friday, November 15th. The stock was sold at an average price of $164.56, for a total transaction of $507,009.36. Following the transaction, the director now owns 5,877 shares in the company, valued at approximately $967,119.12. The trade was a 34.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value 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 approximately $2,470,286.90. This represents a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

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.