Chevy Chase Trust Holdings LLC Sells 2,387 Shares of Extra Space Storage Inc. (NYSE:EXR)

Chevy Chase Trust Holdings LLC reduced its position in Extra Space Storage Inc. (NYSE:EXR) by 2.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 111,240 shares of the real estate investment trust’s stock after selling 2,387 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Extra Space Storage were worth $16,642,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. State Street Corp boosted its position in shares of Extra Space Storage by 1.7% in the third quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust’s stock worth $2,412,894,000 after purchasing an additional 227,006 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Extra Space Storage by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,366,107 shares of the real estate investment trust’s stock worth $426,349,000 after purchasing an additional 111,137 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Extra Space Storage by 10.4% in the third quarter. Daiwa Securities Group Inc. now owns 2,020,459 shares of the real estate investment trust’s stock worth $364,066,000 after buying an additional 189,949 shares in the last quarter. Pathway Financial Advisers LLC lifted its holdings in shares of Extra Space Storage by 17,832.9% in the third quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust’s stock worth $363,783,000 after buying an additional 2,007,626 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Extra Space Storage by 724.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust’s stock worth $357,100,000 after buying an additional 1,741,320 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the 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 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 link. Insiders own 1.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on EXR shares. Scotiabank raised shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 target price on the stock in a report on Friday, January 10th. Wells Fargo & Company reissued an “equal weight” rating and issued a $175.00 target price on shares of Extra Space Storage in a report on Monday, October 21st. Barclays lowered their target price on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, Truist Financial boosted their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $174.00.

Extra Space Storage Trading Down 0.6 %

Shares of EXR opened at $154.96 on Friday. Extra Space Storage Inc. has a twelve month low of $131.02 and a twelve month high of $184.87. The company has a market cap of $32.85 billion, a P/E ratio of 40.57, a P/E/G ratio of 7.77 and a beta of 0.91. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The company’s fifty day simple moving average is $152.13 and its 200-day simple moving average is $163.94.

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.