CENTRAL TRUST Co Increases Holdings in Extra Space Storage Inc. (NYSE:EXR)

CENTRAL TRUST Co lifted its position in Extra Space Storage Inc. (NYSE:EXR) by 64.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 930 shares of the real estate investment trust’s stock after buying an additional 364 shares during the period. CENTRAL TRUST Co’s holdings in Extra Space Storage were worth $168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Hummer Financial Advisory Services Inc boosted its position in Extra Space Storage by 1.2% in the third quarter. Hummer Financial Advisory Services Inc now owns 5,920 shares of the real estate investment trust’s stock worth $1,067,000 after purchasing an additional 70 shares during the last quarter. Buckley Wealth Management LLC lifted its stake in shares of Extra Space Storage by 1.9% in the 3rd quarter. Buckley Wealth Management LLC now owns 3,811 shares of the real estate investment trust’s stock worth $687,000 after purchasing an additional 71 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Extra Space Storage by 19.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 76 shares during the last quarter. Bleakley Financial Group LLC grew its position in Extra Space Storage by 4.1% during the third quarter. Bleakley Financial Group LLC now owns 1,973 shares of the real estate investment trust’s stock valued at $356,000 after buying an additional 77 shares during the period. Finally, QRG Capital Management Inc. increased its holdings in Extra Space Storage by 5.2% during the first quarter. QRG Capital Management Inc. now owns 1,588 shares of the real estate investment trust’s stock valued at $233,000 after buying an additional 78 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Jefferies Financial Group upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and lifted their price target for the stock from $162.00 to $204.00 in a research note on Wednesday, September 18th. Bank of America downgraded Extra Space Storage from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $172.00 to $155.00 in a research report on Monday, August 5th. Royal Bank of Canada started coverage on Extra Space Storage in a research report on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 price target for the company. Scotiabank boosted their price objective on Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a research note on Thursday, August 22nd. Finally, Evercore ISI decreased their target price on shares of 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $170.80.

Extra Space Storage Trading Down 1.1 %

Shares of EXR stock opened at $166.40 on Monday. The stock’s 50-day moving average price is $174.56 and its 200-day moving average price is $159.68. Extra Space Storage Inc. has a 12-month low of $101.19 and a 12-month high of $184.87. The stock has a market capitalization of $35.23 billion, a price-to-earnings ratio of 37.06, a price-to-earnings-growth ratio of 6.25 and a beta of 0.86. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.76.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $1.62 per share. The ex-dividend date was Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.89%. Extra Space Storage’s dividend payout ratio is currently 144.32%.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the sale, the chief executive officer now owns 24,190 shares of the company’s stock, valued at $4,318,398.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Kenneth M. Woolley sold 6,647 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $177.23, for a total value of $1,178,047.81. Following the completion of the transaction, the director now owns 404,306 shares of the company’s stock, valued at approximately $71,655,152.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the completion of the transaction, the chief executive officer now owns 24,190 shares of the company’s stock, valued at approximately $4,318,398.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,970 shares of company stock valued at $3,367,307. 1.36% of the stock is owned by corporate insiders.

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.