US Bancorp DE Buys 308 Shares of Extra Space Storage Inc. (NYSE:EXR)

US Bancorp DE boosted its stake in Extra Space Storage Inc. (NYSE:EXR) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,237 shares of the real estate investment trust’s stock after purchasing an additional 308 shares during the quarter. US Bancorp DE’s holdings in Extra Space Storage were worth $4,224,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in EXR. Golden State Wealth Management LLC purchased a new stake in shares of Extra Space Storage in the 4th quarter valued at about $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Extra Space Storage in the 3rd quarter valued at about $33,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Extra Space Storage in the 3rd quarter valued at about $42,000. Quent Capital LLC raised its holdings in shares of Extra Space Storage by 89.0% in the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 154 shares in the last quarter. Finally, Asset Planning Inc purchased a new stake in shares of Extra Space Storage in the 4th quarter valued at about $52,000. Institutional investors own 99.11% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on EXR shares. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Royal Bank of Canada lowered their price target on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Truist Financial raised their price objective on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Barclays decreased their price objective on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, Wells Fargo & Company decreased their price objective on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $171.36.

Insider Activity

In other news, EVP William N. Springer sold 1,220 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the transaction, the executive vice president now directly owns 20,158 shares of the company’s stock, valued at approximately $3,077,320.28. The trade was a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at approximately $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. Insiders own 1.36% of the company’s stock.

Extra Space Storage Price Performance

EXR opened at $157.24 on Thursday. The stock’s 50 day simple moving average is $152.63 and its 200 day simple moving average is $163.21. 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 Inc. has a 1 year low of $131.02 and a 1 year high of $184.87. The firm has a market cap of $33.33 billion, a price-to-earnings ratio of 41.16, a PEG ratio of 7.76 and a beta of 0.91.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.93. The business had revenue of $821.90 million for the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. As a group, analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $1.62 per share. The ex-dividend date is Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.12%. Extra Space Storage’s dividend payout ratio (DPR) is presently 160.40%.

Extra Space Storage 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.