Extra Space Storage Inc. (NYSE:EXR) Stock Position Reduced by Hancock Whitney Corp

Hancock Whitney Corp lessened its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 44.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,670 shares of the real estate investment trust's stock after selling 6,995 shares during the quarter. Hancock Whitney Corp's holdings in Extra Space Storage were worth $1,297,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Extra Space Storage during the 4th quarter valued at approximately $938,647,000. Manning & Napier Advisors LLC boosted its holdings in shares of Extra Space Storage by 1,127.2% during the fourth quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust's stock valued at $116,985,000 after acquiring an additional 718,266 shares during the period. Cbre Investment Management Listed Real Assets LLC grew its position in shares of Extra Space Storage by 91.2% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,089,753 shares of the real estate investment trust's stock worth $163,027,000 after acquiring an additional 519,934 shares during the last quarter. Cohen & Steers Inc. increased its holdings in shares of Extra Space Storage by 5.9% in the 4th quarter. Cohen & Steers Inc. now owns 9,246,133 shares of the real estate investment trust's stock worth $1,383,094,000 after acquiring an additional 516,941 shares during the period. Finally, Amundi lifted its position in Extra Space Storage by 82.0% in the 4th quarter. Amundi now owns 828,644 shares of the real estate investment trust's stock valued at $122,649,000 after purchasing an additional 373,274 shares during the last quarter. Institutional investors own 99.11% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on EXR. StockNews.com cut shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Friday, March 7th. Scotiabank raised Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and decreased their price objective for the stock from $165.00 to $149.00 in a report on Wednesday, April 9th. Mizuho started coverage on Extra Space Storage in a research note on Wednesday, April 9th. They set an "outperform" rating and a $141.00 target price on the stock. The Goldman Sachs Group reissued a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Finally, Barclays cut their price objective on shares of Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 12th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $167.25.

Extra Space Storage Price Performance

Shares of NYSE EXR traded up $0.98 during midday trading on Monday, reaching $142.03. The company's stock had a trading volume of 804,134 shares, compared to its average volume of 1,061,298. Extra Space Storage Inc. has a one year low of $121.03 and a one year high of $184.87. The company has a market cap of $30.14 billion, a price-to-earnings ratio of 37.18, a price-to-earnings-growth ratio of 7.76 and a beta of 0.96. The company has a 50 day moving average price of $145.27 and a 200 day moving average price of $153.90. 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 (NYSE:EXR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.93. The company had revenue of $821.90 million for the quarter, compared to analysts' expectations of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. On average, equities research analysts expect that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date was Friday, March 14th. Extra Space Storage's dividend payout ratio is presently 160.40%.

Insider Buying and Selling at Extra Space Storage

In other news, EVP William N. Springer sold 1,220 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the completion of the sale, the executive vice president now owns 20,158 shares in the company, valued at $3,077,320.28. This represents a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total value of $1,105,875.00. Following the completion of the sale, the chief executive officer now directly owns 9,190 shares of the company's stock, valued at approximately $1,355,065.50. This trade represents a 44.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,392 shares of company stock valued at $1,392,315. 1.36% of the stock is currently owned by corporate insiders.

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.