Bank of New York Mellon Corp Decreases Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Bank of New York Mellon Corp lowered its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 0.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,414,376 shares of the real estate investment trust's stock after selling 2,107 shares during the quarter. Bank of New York Mellon Corp owned about 0.67% of Extra Space Storage worth $211,591,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Graypoint LLC boosted its stake in Extra Space Storage by 4.3% during the 3rd quarter. Graypoint LLC now owns 1,575 shares of the real estate investment trust's stock valued at $284,000 after purchasing an additional 65 shares during the period. Wedge Capital Management L L P NC increased its stake in Extra Space Storage by 1.3% in the fourth quarter. Wedge Capital Management L L P NC now owns 5,138 shares of the real estate investment trust's stock valued at $769,000 after acquiring an additional 68 shares during the period. Aptus Capital Advisors LLC lifted its position in shares of Extra Space Storage by 5.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 1,570 shares of the real estate investment trust's stock worth $283,000 after buying an additional 82 shares during the period. Savant Capital LLC grew its holdings in shares of Extra Space Storage by 1.9% in the 4th quarter. Savant Capital LLC now owns 5,157 shares of the real estate investment trust's stock worth $771,000 after purchasing an additional 94 shares during the last quarter. Finally, Huntington National Bank grew its position in Extra Space Storage by 5.8% during the 3rd quarter. Huntington National Bank now owns 1,878 shares of the real estate investment trust's stock worth $338,000 after acquiring an additional 103 shares during the last quarter. Institutional investors own 99.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on EXR shares. Wells Fargo & Company dropped their target price on Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating for the company in a research report on Friday, February 21st. Barclays decreased their price objective on Extra Space Storage from $192.00 to $184.00 and set an "overweight" rating for the company in a research report on Monday, January 13th. Scotiabank upgraded Extra Space Storage from a "sector underperform" rating to a "sector perform" rating and set a $167.00 target price on the stock in a research note on Friday, January 10th. StockNews.com upgraded Extra Space Storage from a "sell" rating to a "hold" rating in a report on Tuesday, January 28th. Finally, Truist Financial raised their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a "hold" rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $171.55.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the sale, the chief executive officer now owns 16,690 shares of the company's stock, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.36% of the stock is currently owned by corporate insiders.

Extra Space Storage Stock Performance

Shares of NYSE:EXR traded up $1.46 during midday trading on Monday, reaching $154.02. The company had a trading volume of 1,688,571 shares, compared to its average volume of 1,337,087. The stock has a market cap of $32.65 billion, a P/E ratio of 40.32, a P/E/G ratio of 7.76 and a beta of 0.91. The company's 50 day moving average price is $152.27 and its 200 day moving average price is $163.43. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.93. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. As a group, sell-side analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $1.62 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.21%. Extra Space Storage's payout ratio is currently 160.40%.

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.