Extra Space Storage Inc. (NYSE:EXR) Shares Bought by First Hawaiian Bank

First Hawaiian Bank lifted its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 25.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,022 shares of the real estate investment trust’s stock after purchasing an additional 406 shares during the period. First Hawaiian Bank’s holdings in Extra Space Storage were worth $302,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Graypoint LLC grew its position in Extra Space Storage by 4.3% during the third quarter. Graypoint LLC now owns 1,575 shares of the real estate investment trust’s stock worth $284,000 after buying an additional 65 shares during the period. Hummer Financial Advisory Services Inc grew its holdings in shares of Extra Space Storage by 1.2% in the 3rd quarter. Hummer Financial Advisory Services Inc now owns 5,920 shares of the real estate investment trust’s stock worth $1,067,000 after acquiring an additional 70 shares during the period. Buckley Wealth Management LLC increased its stake in 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 valued at $687,000 after purchasing an additional 71 shares in the last quarter. Bleakley Financial Group LLC raised its holdings 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 worth $356,000 after purchasing an additional 77 shares during the last quarter. Finally, Aptus Capital Advisors LLC boosted its position in Extra Space Storage by 5.5% during the third quarter. Aptus Capital Advisors LLC now owns 1,570 shares of the real estate investment trust’s stock worth $283,000 after purchasing an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Buying and Selling

In other Extra Space Storage news, Director Diane Olmstead sold 3,081 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $164.56, for a total transaction of $507,009.36. Following the completion of the sale, the director now directly owns 5,877 shares in the company, valued at $967,119.12. The trade was a 34.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the completion of the transaction, the chief executive officer now directly owns 16,690 shares in the company, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company’s stock.

Analyst Ratings Changes

EXR has been the subject of a number of research analyst reports. Wells Fargo & Company restated an “equal weight” rating and issued a $175.00 price target on shares of Extra Space Storage in a research report on Monday, October 21st. Scotiabank upgraded shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 target price for the company in a research report on Friday. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report 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 for the company in a research report on Monday, October 14th. Finally, Truist Financial increased their target price on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $171.92.

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $146.72 on Friday. The company has a market cap of $31.10 billion, a P/E ratio of 38.41, a P/E/G ratio of 7.96 and a beta of 0.91. The business has a fifty day simple moving average of $158.78 and a 200-day simple moving average of $165.08. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company had revenue of $824.80 million for the quarter, compared to analyst estimates of $826.93 million. During the same period in the prior year, the company earned $2.02 EPS. The company’s revenue was up 10.2% compared to the same quarter last year. Equities research analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $1.62 per share. The ex-dividend date was Monday, December 16th. This represents a $6.48 annualized dividend and a dividend yield of 4.42%. Extra Space Storage’s dividend payout ratio is presently 169.63%.

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.