Truist Financial Corp Sells 957 Shares of Extra Space Storage Inc. (NYSE:EXR)

Truist Financial Corp reduced its stake in Extra Space Storage Inc. (NYSE:EXR) by 6.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,879 shares of the real estate investment trust’s stock after selling 957 shares during the period. Truist Financial Corp’s holdings in Extra Space Storage were worth $2,076,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Graypoint LLC raised 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 valued at $284,000 after purchasing an additional 65 shares in the last quarter. Wedge Capital Management L L P NC raised its position in Extra Space Storage by 1.3% during the fourth quarter. Wedge Capital Management L L P NC now owns 5,138 shares of the real estate investment trust’s stock valued at $769,000 after purchasing an additional 68 shares in the last quarter. Aptus Capital Advisors LLC raised 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 valued at $283,000 after purchasing an additional 82 shares in the last quarter. Savant Capital LLC raised its position in Extra Space Storage by 1.9% during the fourth quarter. Savant Capital LLC now owns 5,157 shares of the real estate investment trust’s stock valued at $771,000 after purchasing an additional 94 shares in the last quarter. Finally, Huntington National Bank raised its position in Extra Space Storage by 5.8% during the third quarter. Huntington National Bank now owns 1,878 shares of the real estate investment trust’s stock valued at $338,000 after purchasing an additional 103 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Stock Performance

NYSE EXR opened at $154.05 on Thursday. The company has a market capitalization of $32.66 billion, a price-to-earnings ratio of 40.33, a PEG ratio of 7.76 and a beta of 0.91. Extra Space Storage Inc. has a twelve month low of $131.02 and a twelve month high of $184.87. The stock has a fifty day simple moving average of $151.94 and a 200 day simple moving average of $163.62. 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, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.93. The business had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Sell-side analysts expect that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.21%. Extra Space Storage’s payout ratio is 169.63%.

Analyst Ratings Changes

EXR has been the subject of several research analyst reports. Truist Financial boosted their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Scotiabank upgraded shares of 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, January 10th. Wells Fargo & Company lowered their price target on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, Barclays lowered their price target on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $173.09.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’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 sale, the chief executive officer now owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.36% of the company’s stock.

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.