Stock Yards Bank & Trust Co. Has $1.17 Million Position in Extra Space Storage Inc. (NYSE:EXR)

Stock Yards Bank & Trust Co. lowered its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 7.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 7,885 shares of the real estate investment trust’s stock after selling 614 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Extra Space Storage were worth $1,171,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in EXR. Harbour Investments Inc. grew its position in Extra Space Storage by 90.9% during the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 80 shares in the last quarter. Asset Planning Inc acquired a new stake in shares of Extra Space Storage in the 4th quarter valued at $52,000. Quarry LP boosted its holdings in shares of Extra Space Storage by 156.1% in the 4th quarter. Quarry LP now owns 356 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 217 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Extra Space Storage in the 4th quarter valued at $54,000. Finally, Parvin Asset Management LLC acquired a new stake in shares of Extra Space Storage in the 4th quarter valued at $62,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Stock Down 0.7%

Shares of NYSE:EXR opened at $149.47 on Friday. The firm has a market cap of $31.72 billion, a P/E ratio of 39.13, a P/E/G ratio of 7.76 and a beta of 1.11. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 12-month low of $121.03 and a 12-month high of $184.87. The business has a fifty day simple moving average of $145.26 and a 200 day simple moving average of $149.73.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.04. The business had revenue of $820.00 million during the quarter, compared to analyst estimates of $705.12 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Extra Space Storage’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the company earned $1.96 EPS. Analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $1.62 per share. The ex-dividend date is Monday, June 16th. This represents a $6.48 dividend on an annualized basis and a yield of 4.34%. Extra Space Storage’s payout ratio is currently 150.35%.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the completion of the sale, the chief executive officer now directly owns 9,190 shares in the company, valued at approximately $1,355,065.50. This trade represents a 44.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on EXR shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. Wall Street Zen raised Extra Space Storage from a “sell” rating to a “hold” rating in a report on Wednesday, April 30th. Royal Bank of Canada reduced their target price on Extra Space Storage from $163.00 to $160.00 and set a “sector perform” rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company reduced their target price on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. Finally, Mizuho raised their target price on Extra Space Storage from $141.00 to $153.00 and gave the company an “outperform” rating in a report on Wednesday, May 28th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $159.54.

Extra Space Storage 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.