Ferguson Wellman Capital Management Inc. Sells 191 Shares of Extra Space Storage Inc. (NYSE:EXR)

Ferguson Wellman Capital Management Inc. lowered its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 1.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,558 shares of the real estate investment trust’s stock after selling 191 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Extra Space Storage were worth $1,902,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Graypoint LLC increased its position in Extra Space Storage by 4.3% during the 3rd 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 stake in shares of 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 valued at $1,067,000 after acquiring an additional 70 shares in the last quarter. Buckley Wealth Management LLC raised 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 worth $687,000 after purchasing an additional 71 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in Extra Space Storage by 19.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 76 shares during the period. Finally, Bleakley Financial Group LLC grew its position in shares of Extra Space Storage by 4.1% during the 3rd 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 in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Stock Down 0.4 %

Shares of NYSE:EXR opened at $163.45 on Friday. Extra Space Storage Inc. has a 52-week low of $125.32 and a 52-week high of $184.87. The company has a market capitalization of $34.65 billion, a PE ratio of 42.79, a price-to-earnings-growth ratio of 8.26 and a beta of 0.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The company has a fifty day moving average of $171.88 and a 200-day moving average of $162.26.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). The firm had revenue of $824.80 million for 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 company’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.02 EPS. On average, equities analysts predict that Extra Space Storage Inc. will post 8.09 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $6.48 annualized dividend and a yield of 3.96%. Extra Space Storage’s dividend payout ratio is presently 169.63%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada began coverage on shares of 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 lifted their price objective on Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a report on Thursday, August 22nd. Bank of America lowered Extra Space Storage from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $172.00 to $155.00 in a report on Monday, August 5th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $175.00 price objective on shares of Extra Space Storage in a research report on Monday, October 21st. Finally, Jefferies Financial Group raised shares of Extra Space Storage from a “hold” rating to a “buy” rating and raised their target price for the company from $162.00 to $204.00 in a report on Wednesday, September 18th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Extra Space Storage currently has a consensus rating of “Hold” and a consensus target price of $171.50.

Insiders Place Their Bets

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 24,190 shares of the company’s stock, valued at $4,318,398.80. The trade was a 23.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William N. Springer sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total transaction of $350,660.00. Following the sale, the executive vice president now directly owns 11,919 shares of the company’s stock, valued at $2,089,758.27. This represents a 14.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,970 shares of company stock valued at $3,367,307 in the last ninety days. 1.36% of the stock is currently owned by insiders.

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.