Summit Trail Advisors LLC Lowers Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Summit Trail Advisors LLC cut its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 10.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,774 shares of the real estate investment trust’s stock after selling 210 shares during the period. Summit Trail Advisors LLC’s holdings in Extra Space Storage were worth $265,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Exchange Traded Concepts LLC purchased a new stake in Extra Space Storage during the 3rd quarter worth approximately $136,000. Koshinski Asset Management Inc. purchased a new stake in shares of Extra Space Storage during the third quarter worth $209,000. Swedbank AB increased its position in shares of Extra Space Storage by 4.5% during the third quarter. Swedbank AB now owns 243,130 shares of the real estate investment trust’s stock worth $43,810,000 after acquiring an additional 10,408 shares during the period. Hummer Financial Advisory Services Inc raised 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. Finally, Physician Wealth Advisors Inc. boosted its holdings in Extra Space Storage by 4.0% in the third quarter. Physician Wealth Advisors Inc. now owns 11,237 shares of the real estate investment trust’s stock valued at $1,923,000 after purchasing an additional 431 shares during the period. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Extra Space Storage

In related news, Director Diane Olmstead sold 3,081 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $164.56, for a total transaction 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 represents a 34.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the transaction, the chief executive officer now directly 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. Insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

NYSE EXR opened at $154.84 on Thursday. The company has a fifty day moving average of $152.64 and a two-hundred day moving average of $164.12. The company has a market capitalization of $32.82 billion, a PE ratio of 40.53, a P/E/G ratio of 7.77 and a beta of 0.91. Extra Space Storage Inc. has a 1 year low of $131.02 and a 1 year high of $184.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a dividend of $1.62 per share. The ex-dividend date was Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a yield of 4.18%. Extra Space Storage’s dividend payout ratio is presently 169.63%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EXR. Truist Financial upped their price target on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Wells Fargo & Company restated an “equal weight” rating and set a $175.00 target price on shares of Extra Space Storage in a research note on Monday, October 21st. StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Barclays dropped their price objective on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Finally, Scotiabank raised shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective for the company in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $174.00.

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.