CENTRAL TRUST Co Has $92,000 Position in Extra Space Storage Inc (NYSE:EXR)

CENTRAL TRUST Co lowered its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 31.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 618 shares of the real estate investment trust’s stock after selling 286 shares during the period. CENTRAL TRUST Co’s holdings in Extra Space Storage were worth $92,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Cohen & Steers Inc. boosted its stake in shares of Extra Space Storage by 5.9% during the 4th quarter. Cohen & Steers Inc. now owns 9,246,133 shares of the real estate investment trust’s stock valued at $1,383,094,000 after buying an additional 516,941 shares during the period. Norges Bank acquired a new stake in shares of Extra Space Storage during the 4th quarter valued at $938,647,000. Dimensional Fund Advisors LP lifted its stake in shares of Extra Space Storage by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,136,640 shares of the real estate investment trust’s stock valued at $469,229,000 after purchasing an additional 24,533 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Extra Space Storage by 3.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,064,970 shares of the real estate investment trust’s stock valued at $458,520,000 after purchasing an additional 104,986 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Extra Space Storage by 48.7% in the 4th quarter. Northern Trust Corp now owns 2,875,049 shares of the real estate investment trust’s stock valued at $430,107,000 after purchasing an additional 941,212 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Transactions at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 9,190 shares in the company, valued at approximately $1,355,065.50. This represents a 44.94% 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. 0.96% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on EXR shares. Evercore ISI lifted their target price on shares of Extra Space Storage from $144.00 to $149.00 and gave the stock an “in-line” rating in a report on Thursday, May 1st. Bank of America boosted their price objective on shares of Extra Space Storage from $155.00 to $161.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. lifted their target price on shares of Extra Space Storage from $160.00 to $162.00 and gave the company a “neutral” rating in a research report on Friday, June 13th. Barclays decreased their target price on shares of Extra Space Storage from $181.00 to $178.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Finally, Benchmark decreased 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 report on Tuesday, May 13th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $159.54.

Extra Space Storage Price Performance

NYSE:EXR opened at $146.06 on Friday. The firm has a market cap of $30.99 billion, a PE ratio of 33.89, a price-to-earnings-growth ratio of 3.56 and a beta of 1.11. Extra Space Storage Inc has a 12 month low of $121.03 and a 12 month high of $184.87. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.85. The company’s 50-day moving average price is $146.71 and its two-hundred day moving average price is $149.09.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results 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. The firm had revenue of $820.00 million for the quarter, compared to analyst estimates of $705.12 million. Extra Space Storage had a net margin of 27.84% and a return on equity of 6.11%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.96 earnings per share. On average, equities analysts anticipate that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a $1.62 dividend. The ex-dividend date is Monday, June 16th. This represents a $6.48 dividend on an annualized basis and a yield of 4.44%. Extra Space Storage’s dividend payout ratio (DPR) is presently 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.