WASHINGTON TRUST Co Buys 1,000 Shares of Extra Space Storage Inc. (NYSE:EXR)

WASHINGTON TRUST Co increased its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 23.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,225 shares of the real estate investment trust’s stock after purchasing an additional 1,000 shares during the period. WASHINGTON TRUST Co’s holdings in Extra Space Storage were worth $838,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. First Horizon Advisors Inc. grew its stake in Extra Space Storage by 1,272.7% during the 1st quarter. First Horizon Advisors Inc. now owns 151 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 140 shares in the last quarter. Zions Bancorporation N.A. grew its position in Extra Space Storage by 241.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 150 shares during the last quarter. Money Concepts Capital Corp purchased a new position in Extra Space Storage during the 4th quarter worth $27,000. EverSource Wealth Advisors LLC grew its position in Extra Space Storage by 162.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 143 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in Extra Space Storage during the 3rd quarter worth $32,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Raymond James reissued an “outperform” rating and set a $160.00 price objective on shares of Extra Space Storage in a research report on Thursday. Scotiabank assumed coverage on shares of Extra Space Storage in a report on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Extra Space Storage in a research note on Tuesday, January 30th. They issued a “hold” rating and a $141.00 price objective for the company. The Goldman Sachs Group lifted their target price on shares of Extra Space Storage from $168.00 to $187.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Finally, Morgan Stanley upgraded shares of Extra Space Storage from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $115.00 to $150.00 in a research report on Thursday, December 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Extra Space Storage presently has a consensus rating of “Hold” and a consensus target price of $151.08.

Insider Activity at Extra Space Storage

In related news, CMO Samrat Sondhi sold 2,048 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $146.46, for a total value of $299,950.08. Following the sale, the chief marketing officer now directly owns 94,126 shares in the company, valued at $13,785,693.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $146.46, for a total transaction of $299,950.08. Following the transaction, the chief marketing officer now directly owns 94,126 shares in the company, valued at approximately $13,785,693.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $145.00, for a total value of $195,750.00. Following the completion of the transaction, the executive vice president now owns 37,028 shares in the company, valued at $5,369,060. The disclosure for this sale can be found here. Insiders have sold 3,532 shares of company stock worth $514,819 over the last ninety days. Insiders own 1.55% of the company’s stock.

Extra Space Storage Price Performance

EXR traded up $0.21 on Thursday, hitting $146.96. 363,736 shares of the stock were exchanged, compared to its average volume of 1,189,785. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $165.85. The business has a 50-day moving average of $143.48 and a two-hundred day moving average of $135.40. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a market capitalization of $31.09 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 3.45 and a beta of 0.74.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.01). The business had revenue of $797.77 million for the quarter, compared to analyst estimates of $778.05 million. Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The firm’s revenue was up 57.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.09 EPS. Sell-side analysts forecast that Extra Space Storage Inc. will post 8.04 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.41%. The ex-dividend date of this dividend is Thursday, March 14th. Extra Space Storage’s dividend payout ratio is currently 131.17%.

About Extra Space Storage

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.