Fulton Bank N.A. Purchases 1,765 Shares of Extra Space Storage Inc. (NYSE:EXR)

Fulton Bank N.A. boosted its position in Extra Space Storage Inc. (NYSE:EXR) by 103.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,464 shares of the real estate investment trust’s stock after acquiring an additional 1,765 shares during the period. Fulton Bank N.A.’s holdings in Extra Space Storage were worth $538,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Extra Space Storage by 17.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,087 shares of the real estate investment trust’s stock worth $18,933,000 after purchasing an additional 17,163 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Extra Space Storage during the fourth quarter worth about $3,304,000. Daiwa Securities Group Inc. raised its position in shares of Extra Space Storage by 8.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,724,293 shares of the real estate investment trust’s stock worth $436,786,000 after purchasing an additional 211,395 shares during the period. State of Tennessee Treasury Department raised its position in shares of Extra Space Storage by 252.1% during the fourth quarter. State of Tennessee Treasury Department now owns 114,819 shares of the real estate investment trust’s stock worth $18,409,000 after purchasing an additional 82,207 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in Extra Space Storage by 19.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 247,203 shares of the real estate investment trust’s stock valued at $36,307,000 after buying an additional 40,055 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on EXR shares. Citigroup reduced their target price on Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Evercore ISI boosted their price target on Extra Space Storage from $140.00 to $151.00 and gave the company an “in-line” rating in a research note on Monday, July 15th. Wells Fargo & Company boosted their price target on Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Raymond James boosted their price target on Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Finally, StockNews.com upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $160.67.

Insider Buying and Selling at Extra Space Storage

In related news, Director Joseph J. Bonner sold 677 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $148.22, for a total transaction of $100,344.94. Following the sale, the director now owns 5,229 shares in the company, valued at approximately $775,042.38. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Extra Space Storage news, Director Joseph J. Bonner sold 677 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $148.22, for a total value of $100,344.94. Following the completion of the sale, the director now owns 5,229 shares of the company’s stock, valued at $775,042.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $152.58, for a total value of $1,144,350.00. Following the completion of the sale, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at approximately $4,835,260.20. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Trading Down 1.5 %

Shares of NYSE EXR traded down $2.41 during trading on Wednesday, reaching $160.79. The company had a trading volume of 621,209 shares, compared to its average volume of 1,086,565. The company’s fifty day moving average price is $156.79 and its 200-day moving average price is $147.83. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $171.46. The stock has a market cap of $34.04 billion, a P/E ratio of 36.31, a PEG ratio of 3.37 and a beta of 0.83. The company has a quick ratio of 0.15, a current ratio of 0.20 and a debt-to-equity ratio of 0.76.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $1.62 dividend. The ex-dividend date was Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.03%. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

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.