Glenmede Trust Co. NA Grows Position in Extra Space Storage Inc. (NYSE:EXR)

Glenmede Trust Co. NA boosted its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 5.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,578 shares of the real estate investment trust’s stock after purchasing an additional 266 shares during the period. Glenmede Trust Co. NA’s holdings in Extra Space Storage were worth $1,005,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Gateway Investment Advisers LLC acquired a new stake in shares of Extra Space Storage in the second quarter worth $16,026,000. MADDEN SECURITIES Corp purchased a new position in Extra Space Storage in the second quarter valued at about $1,002,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Extra Space Storage by 53.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,738 shares of the real estate investment trust’s stock worth $1,824,000 after purchasing an additional 4,102 shares in the last quarter. Swedbank AB boosted its position in shares of Extra Space Storage by 4.5% in the third quarter. Swedbank AB now owns 243,130 shares of the real estate investment trust’s stock worth $43,810,000 after buying an additional 10,408 shares during the period. Finally, Czech National Bank grew its stake in shares of Extra Space Storage by 8.5% in the second quarter. Czech National Bank now owns 40,346 shares of the real estate investment trust’s stock valued at $6,270,000 after buying an additional 3,172 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Activity at Extra Space Storage

In related news, Director Diane Olmstead sold 3,081 shares of the company’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 value of $507,009.36. Following the completion of the sale, the director now owns 5,877 shares in the company, valued at approximately $967,119.12. This represents a 34.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred 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 transaction, the chief executive officer now owns 24,190 shares in the company, valued at approximately $4,318,398.80. The trade was a 23.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,228 shares of company stock worth $3,023,957 in the last quarter. 1.36% of the stock is owned by company insiders.

Analysts Set New Price Targets

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. KeyCorp raised their price target on shares of Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Barclays upped their price objective on shares of Extra Space Storage from $188.00 to $192.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Evercore ISI dropped 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. Finally, Bank of America cut Extra Space Storage from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $172.00 to $155.00 in a research note on Monday, August 5th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $171.36.

Extra Space Storage Trading Down 0.8 %

Shares of EXR stock opened at $169.66 on Tuesday. The stock has a 50-day simple moving average of $169.37 and a 200 day simple moving average of $164.64. The stock has a market capitalization of $35.96 billion, a P/E ratio of 44.41, a P/E/G ratio of 8.61 and a beta of 0.87. Extra Space Storage Inc. has a fifty-two week low of $131.02 and a fifty-two week high of $184.87. 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, 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). Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $824.80 million for the quarter, compared to the consensus estimate of $826.93 million. During the same quarter last year, the business posted $2.02 EPS. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, sell-side analysts expect that Extra Space Storage Inc. will post 8.09 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend is Monday, December 16th. Extra Space Storage’s dividend payout ratio is 169.63%.

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.