Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Montecito Bank & Trust

Montecito Bank & Trust decreased its holdings in Extra Space Storage Inc. (NYSE:EXR) by 6.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,686 shares of the real estate investment trust’s stock after selling 122 shares during the quarter. Montecito Bank & Trust’s holdings in Extra Space Storage were worth $252,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Ashton Thomas Securities LLC purchased a new stake in Extra Space Storage during the 3rd quarter worth approximately $33,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Extra Space Storage during the third quarter worth approximately $42,000. Continuum Advisory LLC increased its stake in shares of Extra Space Storage by 68.1% in the third 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 during the last quarter. Sunbelt Securities Inc. raised its holdings in Extra Space Storage by 441.2% in the second quarter. Sunbelt Securities Inc. now owns 617 shares of the real estate investment trust’s stock valued at $96,000 after acquiring an additional 503 shares in the last quarter. Finally, DiNuzzo Private Wealth Inc. acquired a new position in Extra Space Storage during the 3rd quarter worth $129,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insiders Place Their Bets

In other news, Director Diane Olmstead sold 3,081 shares of the 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 transaction, the director now directly owns 5,877 shares in the company, valued at $967,119.12. This trade represents a 34.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on EXR shares. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Evercore ISI cut 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. Wells Fargo & Company reiterated an “equal weight” rating and issued a $175.00 price target on shares of Extra Space Storage in a report on Monday, October 21st. Scotiabank raised shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective for the company in a report on Friday, January 10th. Finally, Barclays lowered their target price on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and an average target price of $171.25.

Extra Space Storage Stock Up 0.4 %

Extra Space Storage stock opened at $152.08 on Friday. The firm has a market capitalization of $32.24 billion, a P/E ratio of 39.81, a P/E/G ratio of 7.48 and a beta of 0.91. The company has a 50-day simple moving average of $156.21 and a 200-day simple moving average of $164.74. Extra Space Storage Inc. has a one year low of $131.02 and a one year high of $184.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.12). The firm had revenue of $824.80 million during the quarter, compared to the consensus estimate of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Extra Space Storage’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the company posted $2.02 EPS. As a group, equities analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.26%. The ex-dividend date was Monday, December 16th. Extra Space Storage’s payout ratio is currently 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.