Blue Trust Inc. Buys 1,182 Shares of Extra Space Storage Inc. (NYSE:EXR)

Blue Trust Inc. lifted its holdings in Extra Space Storage Inc. (NYSE:EXR) by 131.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,078 shares of the real estate investment trust’s stock after buying an additional 1,182 shares during the quarter. Blue Trust Inc.’s holdings in Extra Space Storage were worth $311,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new position in Extra Space Storage during the third quarter valued at approximately $33,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Extra Space Storage in the third quarter worth $42,000. Continuum Advisory LLC lifted its position in Extra Space Storage by 68.1% during the 3rd quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 126 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new position in shares of Extra Space Storage in the third quarter valued at $129,000. Finally, Exchange Traded Concepts LLC lifted its stake in Extra Space Storage by 13.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 861 shares of the real estate investment trust’s stock valued at $129,000 after acquiring an additional 104 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on EXR. Truist Financial lifted their price target on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Barclays reduced their price objective on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Scotiabank upgraded shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price target on the stock in a research note on Friday, January 10th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $175.00 price target on shares of Extra Space Storage in a research report on Monday, October 21st. Finally, Evercore ISI lowered their price objective on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Extra Space Storage has a consensus rating of “Hold” and an average target price of $174.00.

Extra Space Storage Stock Down 0.5 %

Extra Space Storage stock opened at $153.98 on Monday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $32.64 billion, a P/E ratio of 40.31, a P/E/G ratio of 7.62 and a beta of 0.91. The firm has a 50 day moving average price of $154.80 and a 200-day moving average price of $164.60. 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 declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $1.62 dividend. The ex-dividend date was Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a yield of 4.21%. Extra Space Storage’s dividend payout ratio is presently 169.63%.

Insider Buying and Selling

In other Extra Space Storage news, Director Diane Olmstead sold 3,081 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $164.56, for a total transaction of $507,009.36. Following the completion of the transaction, the director now owns 5,877 shares of the company’s stock, valued at approximately $967,119.12. This trade represents a 34.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 16,690 shares in the company, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by corporate insiders.

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.