Hilltop National Bank Decreases Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Hilltop National Bank lessened its position in Extra Space Storage Inc. (NYSE:EXR) by 16.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 647 shares of the real estate investment trust’s stock after selling 130 shares during the quarter. Hilltop National Bank’s holdings in Extra Space Storage were worth $97,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in EXR. Ashton Thomas Securities LLC purchased a new position in shares of Extra Space Storage in the third quarter valued at approximately $33,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Extra Space Storage in the third quarter valued at approximately $42,000. Continuum Advisory LLC increased its holdings 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 valued at $56,000 after purchasing an additional 126 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Extra Space Storage in the second quarter valued at approximately $80,000. Finally, Sunbelt Securities Inc. increased its holdings in shares of 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 purchasing an additional 503 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Truist Financial increased their price target on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $175.00 price target on shares of Extra Space Storage in a report on Monday, October 21st. StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Scotiabank raised Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price target for the company in a report on Friday. Finally, Evercore ISI cut their price target on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $173.08.

Extra Space Storage Trading Down 0.9 %

EXR opened at $146.72 on Friday. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. The business has a fifty day simple moving average of $158.78 and a 200-day simple moving average of $165.03. The firm 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 0.89. 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 released its quarterly 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). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm had revenue of $824.80 million for the quarter, compared to analysts’ expectations of $826.93 million. During the same quarter in the prior year, the business earned $2.02 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $1.62 dividend. The ex-dividend date was Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a yield of 4.42%. Extra Space Storage’s dividend payout ratio (DPR) is presently 169.63%.

Insider Activity at Extra Space Storage

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