Truist Financial Corp Has $5.34 Million Holdings in Extra Space Storage Inc. (NYSE:EXR)

Truist Financial Corp lifted its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 15.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,371 shares of the real estate investment trust’s stock after buying an additional 4,641 shares during the period. Truist Financial Corp’s holdings in Extra Space Storage were worth $5,342,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Pathway Financial Advisers LLC boosted its position in shares of Extra Space Storage by 1.6% during the second quarter. Pathway Financial Advisers LLC now owns 11,258 shares of the real estate investment trust’s stock valued at $1,742,000 after buying an additional 177 shares during the last quarter. Quarry LP boosted its position in shares of Extra Space Storage by 1,480.0% during the second quarter. Quarry LP now owns 869 shares of the real estate investment trust’s stock valued at $135,000 after buying an additional 814 shares during the last quarter. Sunbelt Securities Inc. boosted its position in shares of Extra Space Storage by 441.2% during the second quarter. Sunbelt Securities Inc. now owns 617 shares of the real estate investment trust’s stock valued at $96,000 after buying an additional 503 shares during the last quarter. Creative Planning boosted its position in shares of Extra Space Storage by 1.1% during the second quarter. Creative Planning now owns 27,855 shares of the real estate investment trust’s stock valued at $4,329,000 after buying an additional 292 shares during the last quarter. Finally, Alethea Capital Management LLC purchased a new position in shares of Extra Space Storage during the second quarter valued at approximately $539,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Performance

Shares of EXR opened at $169.40 on Tuesday. The stock’s 50-day simple moving average is $172.75 and its 200 day simple moving average is $157.23. The stock has a market capitalization of $35.87 billion, a price-to-earnings ratio of 37.73, a price-to-earnings-growth ratio of 2.67 and a beta of 0.86. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.20 and a current ratio of 0.20. Extra Space Storage Inc. has a 52-week low of $101.19 and a 52-week high of $184.87.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.83%. Extra Space Storage’s dividend payout ratio (DPR) is currently 144.32%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Jefferies Financial Group raised Extra Space Storage from a “hold” rating to a “buy” rating and lifted their target price for the company from $162.00 to $204.00 in a research report on Wednesday, September 18th. Wells Fargo & Company lifted their price target on Extra Space Storage from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Truist Financial lifted their price target on Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Barclays lifted their price target on Extra Space Storage from $158.00 to $188.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, Scotiabank lifted their price target on Extra Space Storage from $159.00 to $169.00 and gave the stock a “sector underperform” rating in a report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $170.93.

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the completion of the sale, the chief executive officer now owns 24,190 shares of the company’s stock, valued at approximately $4,318,398.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the completion of the sale, the chief executive officer now owns 24,190 shares in the company, valued at approximately $4,318,398.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP William N. Springer sold 2,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total value of $350,660.00. Following the transaction, the executive vice president now directly owns 11,919 shares of the company’s stock, valued at $2,089,758.27. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,970 shares of company stock valued at $3,367,307. 1.36% of the stock is currently owned by company insiders.

Extra Space Storage Company 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.