Cetera Trust Company N.A Makes New $275,000 Investment in Extra Space Storage Inc. (NYSE:EXR)

Cetera Trust Company N.A bought a new position in Extra Space Storage Inc. (NYSE:EXR) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,716 shares of the real estate investment trust’s stock, valued at approximately $275,000.

A number of other hedge funds have also bought and sold shares of the business. First Horizon Advisors Inc. increased its position in shares of Extra Space Storage by 1,272.7% during the 1st quarter. First Horizon Advisors Inc. now owns 151 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 140 shares during the last quarter. Zions Bancorporation N.A. increased its position in shares of Extra Space Storage by 241.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 150 shares during the last quarter. Money Concepts Capital Corp purchased a new stake in shares of Extra Space Storage during the 4th quarter valued at about $27,000. EverSource Wealth Advisors LLC increased its position in shares of Extra Space Storage by 162.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 143 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Extra Space Storage during the 3rd quarter valued at about $32,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the sale, the executive vice president now directly owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the completion of the sale, the chief marketing officer now directly owns 94,126 shares of the company’s stock, valued at approximately $13,785,693.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the transaction, the executive vice president now directly owns 37,028 shares of the company’s stock, valued at $5,369,060. The disclosure for this sale can be found here. Insiders sold a total of 3,532 shares of company stock valued at $514,819 in the last three months. 1.36% of the stock is currently owned by corporate insiders.

Extra Space Storage Trading Down 1.3 %

Extra Space Storage stock opened at $132.46 on Monday. Extra Space Storage Inc. has a 12-month low of $101.19 and a 12-month high of $164.99. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $28.03 billion, a price-to-earnings ratio of 26.81, a P/E/G ratio of 3.25 and a beta of 0.74. The firm has a 50 day moving average of $142.57 and a 200 day moving average of $137.82.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). Extra Space Storage had a net margin of 31.81% and a return on equity of 8.34%. The company had revenue of $797.77 million for the quarter, compared to analysts’ expectations of $778.05 million. During the same period last year, the business earned $2.09 earnings per share. The company’s quarterly revenue was up 57.4% compared to the same quarter last year. As a group, research analysts predict that Extra Space Storage Inc. will post 8.05 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend was Thursday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is currently 131.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on EXR shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Extra Space Storage in a research report on Tuesday, January 30th. They set a “hold” rating and a $141.00 price target for the company. The Goldman Sachs Group upped their price target on shares of Extra Space Storage from $168.00 to $187.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Truist Financial upped their price target on shares of Extra Space Storage from $138.00 to $152.00 and gave the company a “hold” rating in a research report on Thursday, December 28th. Wells Fargo & Company increased their target price on shares of Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Finally, StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Extra Space Storage currently has a consensus rating of “Hold” and a consensus price target of $150.17.

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.