Citigroup Inc. Decreases Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Citigroup Inc. trimmed its holdings in Extra Space Storage Inc. (NYSE:EXRGet Rating) by 40.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 267,601 shares of the real estate investment trust’s stock after selling 180,977 shares during the quarter. Citigroup Inc. owned about 0.20% of Extra Space Storage worth $60,673,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in EXR. Huntington National Bank lifted its stake in Extra Space Storage by 35.3% in the 4th quarter. Huntington National Bank now owns 203 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 53 shares in the last quarter. TAP Consulting LLC purchased a new stake in shares of Extra Space Storage during the 4th quarter valued at approximately $51,000. MUFG Americas Holdings Corp raised its position in shares of Extra Space Storage by 102.2% during the 4th quarter. MUFG Americas Holdings Corp now owns 273 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 138 shares during the period. Cullen Frost Bankers Inc. purchased a new stake in shares of Extra Space Storage during the 4th quarter valued at approximately $75,000. Finally, Signaturefd LLC raised its position in shares of Extra Space Storage by 16.3% during the 4th quarter. Signaturefd LLC now owns 407 shares of the real estate investment trust’s stock valued at $92,000 after buying an additional 57 shares during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.

NYSE:EXR opened at $178.96 on Friday. The company has a fifty day simple moving average of $199.45 and a two-hundred day simple moving average of $201.58. The company has a market cap of $24.03 billion, a price-to-earnings ratio of 29.05, a price-to-earnings-growth ratio of 2.88 and a beta of 0.45. The company has a quick ratio of 0.54, a current ratio of 0.53 and a debt-to-equity ratio of 1.55. Extra Space Storage Inc. has a 52 week low of $142.51 and a 52 week high of $228.84.

Extra Space Storage (NYSE:EXRGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The real estate investment trust reported $1.51 EPS for the quarter, missing the consensus estimate of $1.86 by ($0.35). The business had revenue of $379.81 million during the quarter, compared to analyst estimates of $368.88 million. Extra Space Storage had a return on equity of 23.42% and a net margin of 50.76%. The business’s revenue was up 25.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.50 EPS. On average, analysts expect that Extra Space Storage Inc. will post 8.31 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Tuesday, March 15th were paid a $1.50 dividend. This is an increase from Extra Space Storage’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Monday, March 14th. This represents a $6.00 annualized dividend and a dividend yield of 3.35%. Extra Space Storage’s payout ratio is 97.40%.

EXR has been the topic of several analyst reports. Truist Financial lifted their price target on shares of Extra Space Storage from $213.00 to $220.00 in a research report on Tuesday, January 18th. JPMorgan Chase & Co. lifted their price target on shares of Extra Space Storage from $220.00 to $224.00 and gave the company a “neutral” rating in a research report on Monday, April 4th. StockNews.com raised shares of Extra Space Storage from a “hold” rating to a “buy” rating in a research report on Monday, May 9th. Finally, Morgan Stanley reduced their price target on shares of Extra Space Storage from $175.00 to $172.00 and set an “underweight” rating on the stock in a research report on Wednesday, March 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $199.13.

In related news, EVP Gwyn Goodson Mcneal sold 3,500 shares of the business’s stock in a transaction on Friday, February 25th. The shares were sold at an average price of $192.11, for a total transaction of $672,385.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph D. Margolis sold 5,000 shares of the business’s stock in a transaction on Friday, April 1st. The stock was sold at an average price of $208.34, for a total transaction of $1,041,700.00. Following the transaction, the chief executive officer now owns 62,035 shares of the company’s stock, valued at approximately $12,924,371.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,625 shares of company stock valued at $2,314,085. Insiders own 1.52% of the company’s stock.

About Extra Space Storage (Get Rating)

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 September 30, 2020, the Company owned and/or operated 1,906 self-storage stores in 40 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.4 million units and approximately 147.5 million square feet of rentable space.

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Institutional Ownership by Quarter for Extra Space Storage (NYSE:EXR)

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