Crossmark Global Holdings Inc. Reduces Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Crossmark Global Holdings Inc. lowered its stake in Extra Space Storage Inc. (NYSE:EXR) by 8.6% during the 4th quarter, HoldingsChannel reports. The firm owned 12,693 shares of the real estate investment trust’s stock after selling 1,189 shares during the period. Crossmark Global Holdings Inc.’s holdings in Extra Space Storage were worth $1,899,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Graypoint LLC boosted its holdings in Extra Space Storage by 4.3% in the third quarter. Graypoint LLC now owns 1,575 shares of the real estate investment trust’s stock worth $284,000 after purchasing an additional 65 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in Extra Space Storage by 1.3% in the fourth quarter. Wedge Capital Management L L P NC now owns 5,138 shares of the real estate investment trust’s stock worth $769,000 after purchasing an additional 68 shares during the last quarter. Hummer Financial Advisory Services Inc raised 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 acquiring an additional 70 shares during the period. Buckley Wealth Management LLC raised its position in Extra Space Storage by 1.9% in the third quarter. Buckley Wealth Management LLC now owns 3,811 shares of the real estate investment trust’s stock worth $687,000 after acquiring an additional 71 shares during the period. Finally, Bleakley Financial Group LLC raised its position in Extra Space Storage by 4.1% in the third quarter. Bleakley Financial Group LLC now owns 1,973 shares of the real estate investment trust’s stock worth $356,000 after acquiring an additional 77 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insiders Place Their Bets

In other Extra Space Storage news, Director Diane Olmstead sold 3,081 shares of Extra Space Storage stock in a transaction 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 of the company’s stock, valued at $967,119.12. This trade represents a 34.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Thursday, January 2nd. The stock was 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 of the company’s stock, valued at $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

EXR opened at $151.54 on Friday. The stock has a market capitalization of $32.12 billion, a price-to-earnings ratio of 39.67, a PEG ratio of 7.57 and a beta of 0.91. The company has a fifty day moving average of $156.45 and a 200 day moving average of $164.83. Extra Space Storage Inc. has a fifty-two week low of $131.02 and a fifty-two week 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 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $826.93 million. During the same period in the previous year, the business posted $2.02 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $1.62 dividend. The ex-dividend date was Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.28%. Extra Space Storage’s payout ratio is currently 169.63%.

Wall Street Analysts Forecast Growth

EXR has been the topic of several recent research reports. Truist Financial increased their price target on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Wells Fargo & Company reiterated 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. StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Scotiabank upgraded shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price target on the stock in a research report on Friday, January 10th. Finally, Evercore ISI decreased their price target on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a research report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $171.25.

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.