First Western Trust Bank Takes $229,000 Position in Extra Space Storage Inc. (NYSE:EXR)

First Western Trust Bank bought a new position in shares of Extra Space Storage Inc. (NYSE:EXR) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,426 shares of the real estate investment trust’s stock, valued at approximately $229,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EXR. Whittier Trust Co. increased its stake in shares of Extra Space Storage by 4.5% during the 4th quarter. Whittier Trust Co. now owns 1,656 shares of the real estate investment trust’s stock worth $266,000 after purchasing an additional 72 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in Extra Space Storage by 19.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 706 shares of the real estate investment trust’s stock worth $113,000 after buying an additional 113 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in Extra Space Storage by 30.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 515 shares of the real estate investment trust’s stock valued at $83,000 after buying an additional 119 shares during the period. Private Advisor Group LLC lifted its position in shares of Extra Space Storage by 0.6% in the fourth quarter. Private Advisor Group LLC now owns 21,563 shares of the real estate investment trust’s stock valued at $3,457,000 after buying an additional 119 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Extra Space Storage by 2.9% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,050 shares of the real estate investment trust’s stock worth $810,000 after acquiring an additional 142 shares during the period. 99.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Evercore ISI cut their price target on Extra Space Storage from $145.00 to $139.00 in a report on Wednesday, May 1st. Wells Fargo & Company lifted 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. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Extra Space Storage in a report on Tuesday, January 30th. They issued a “hold” rating and a $141.00 price target on the stock. Raymond James restated an “outperform” rating and set a $160.00 price objective on shares of Extra Space Storage in a report on Thursday, March 28th. Finally, StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, March 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $149.67.

Extra Space Storage Price Performance

NYSE:EXR traded up $5.27 during trading hours on Thursday, reaching $146.22. 945,095 shares of the company were exchanged, compared to its average volume of 1,176,191. The company has a market capitalization of $30.96 billion, a P/E ratio of 32.57, a P/E/G ratio of 3.48 and a beta of 0.76. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.15 and a quick ratio of 0.30. The business has a 50 day moving average of $141.85 and a 200 day moving average of $139.51. Extra Space Storage Inc. has a 1-year low of $101.19 and a 1-year high of $164.99.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.01). The company had revenue of $797.77 million for the quarter, compared to analyst estimates of $778.05 million. Extra Space Storage had a return on equity of 6.76% and a net margin of 29.10%. The business’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period last year, the company posted $2.09 earnings per share. Research analysts forecast that Extra Space Storage Inc. will post 8.05 EPS for the current year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders 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 dividend yield of 4.43%. The ex-dividend date was Thursday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

Insider Buying and Selling

In other news, CMO Samrat Sondhi sold 2,048 shares of Extra Space Storage stock in a transaction on Monday, March 4th. The stock was sold at an average price of $146.46, for a total value of $299,950.08. Following the transaction, the chief marketing officer now owns 94,126 shares in the company, valued at approximately $13,785,693.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $146.46, for a total value of $299,950.08. Following the completion of the transaction, the chief marketing officer now owns 94,126 shares of the company’s stock, valued at $13,785,693.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’s 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 owns 37,028 shares in the company, valued at $5,369,060. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,532 shares of company stock worth $514,819. Corporate insiders own 1.36% of the company’s stock.

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.