Cetera Trust Company N.A Trims Stake in Extra Space Storage Inc. (NYSE:EXR)

Cetera Trust Company N.A lowered its stake in Extra Space Storage Inc. (NYSE:EXR) by 11.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,771 shares of the real estate investment trust’s stock after selling 225 shares during the quarter. Cetera Trust Company N.A’s holdings in Extra Space Storage were worth $265,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hamlin Capital Management LLC lifted its stake in shares of Extra Space Storage by 11.1% during the 4th quarter. Hamlin Capital Management LLC now owns 850,800 shares of the real estate investment trust’s stock worth $127,280,000 after purchasing an additional 84,757 shares during the period. Gilman Hill Asset Management LLC raised its stake in shares of Extra Space Storage by 13.3% in the 4th quarter. Gilman Hill Asset Management LLC now owns 1,492 shares of the real estate investment trust’s stock valued at $223,000 after acquiring an additional 175 shares during the period. Liberty One Investment Management LLC raised its stake in shares of Extra Space Storage by 8.1% in the 4th quarter. Liberty One Investment Management LLC now owns 28,387 shares of the real estate investment trust’s stock valued at $4,247,000 after acquiring an additional 2,118 shares during the period. Ameritas Advisory Services LLC purchased a new position in Extra Space Storage in the fourth quarter valued at about $717,000. Finally, Arkadios Wealth Advisors raised its position in Extra Space Storage by 9.5% in the fourth quarter. Arkadios Wealth Advisors now owns 6,182 shares of the real estate investment trust’s stock valued at $925,000 after purchasing an additional 534 shares during the period. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage 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 transaction, the chief executive officer now owns 16,690 shares in the company, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Diane Olmstead sold 3,081 shares of Extra Space Storage stock in a transaction on Friday, November 15th. The stock was 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 owns 5,877 shares in the company, valued at $967,119.12. This trade represents a 34.39 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is owned by corporate insiders.

Extra Space Storage Stock Down 0.4 %

Shares of NYSE:EXR opened at $149.96 on Wednesday. The firm has a 50 day simple moving average of $156.95 and a 200 day simple moving average of $164.96. The company has a market cap of $31.79 billion, a PE ratio of 39.29, a price-to-earnings-growth ratio of 7.50 and a beta of 0.91. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.12). The business had revenue of $824.80 million during the quarter, compared to analysts’ expectations of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.02 earnings per share. As a group, research analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $1.62 dividend. The ex-dividend date was Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a yield of 4.32%. Extra Space Storage’s payout ratio is 169.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on EXR shares. StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Truist Financial lifted their target price on Extra Space Storage from $167.00 to $168.00 and gave the stock 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 research note on Friday, January 10th. Evercore ISI dropped their target price on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $175.00 target price on shares of Extra Space Storage in a report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Extra Space Storage presently has a consensus rating of “Hold” and an average target price of $171.25.

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.