Chevy Chase Trust Holdings LLC Sells 1,955 Shares of Extra Space Storage Inc. (NYSE:EXR)

Chevy Chase Trust Holdings LLC lessened its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 1.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,627 shares of the real estate investment trust’s stock after selling 1,955 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Extra Space Storage were worth $20,474,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EXR. Benjamin Edwards Inc. boosted its stake in shares of Extra Space Storage by 168.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 4,629 shares of the real estate investment trust’s stock valued at $835,000 after purchasing an additional 2,905 shares in the last quarter. Erste Asset Management GmbH purchased a new position in shares of Extra Space Storage during the 3rd quarter worth approximately $1,631,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Extra Space Storage by 485.7% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 237,331 shares of the real estate investment trust’s stock worth $42,765,000 after acquiring an additional 196,811 shares in the last quarter. Walleye Capital LLC lifted its stake in shares of Extra Space Storage by 174.8% in the 3rd quarter. Walleye Capital LLC now owns 1,280 shares of the real estate investment trust’s stock valued at $231,000 after purchasing an additional 2,992 shares during the period. Finally, Hantz Financial Services Inc. boosted its position in shares of Extra Space Storage by 3.0% during the third quarter. Hantz Financial Services Inc. now owns 30,729 shares of the real estate investment trust’s stock valued at $5,537,000 after purchasing an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insiders Place Their Bets

In related news, Director Diane Olmstead sold 3,081 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $164.56, for a total value of $507,009.36. Following the transaction, the director now directly owns 5,877 shares of the company’s stock, valued at approximately $967,119.12. This trade represents a 34.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total value of $1,338,900.00. Following the sale, the chief executive officer now directly owns 24,190 shares of the company’s stock, valued at $4,318,398.80. This represents a 23.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,228 shares of company stock worth $3,023,957. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Trading Down 2.5 %

Shares of EXR stock opened at $165.54 on Wednesday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 12-month low of $131.02 and a 12-month high of $184.87. The stock has a market capitalization of $35.09 billion, a P/E ratio of 43.34, a P/E/G ratio of 8.54 and a beta of 0.89. The firm’s 50 day moving average is $169.04 and its 200 day moving average is $164.73.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data 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%. The business’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.02 EPS. Research analysts expect that Extra Space Storage Inc. will post 8.09 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $6.48 annualized dividend and a yield of 3.91%. Extra Space Storage’s dividend payout ratio (DPR) is 169.63%.

Analyst Ratings Changes

A number of research firms have issued reports on EXR. Truist Financial increased their price objective on Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a report on Friday, August 16th. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. KeyCorp lifted their target price on shares of Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Wells Fargo & Company restated an “equal weight” rating and issued a $175.00 price target on shares of Extra Space Storage in a research note on Monday, October 21st. Finally, Royal Bank of Canada began coverage on Extra Space Storage in a research note on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 price objective for the company. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $171.36.

Extra Space Storage 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.