Extra Space Storage Inc $EXR Shares Sold by Truist Financial Corp

Key Points

• Truist Financial Corp cut its stake in Extra Space Storage by 76.9% in the fourth quarter, selling 11,294 shares and leaving it with 3,392 shares valued at about $442,000.
• Analyst sentiment is mixed: Bank of America downgraded the stock to underperform, while Barclays raised its target to $170. Overall, the stock carries a consensus Hold rating with a $151 price target.
• Extra Space Storage reported earnings of $1.14 per share, well below estimates of $2.01, though revenue came in slightly above expectations at $856.03 million. The company also declared a quarterly dividend of $1.62 per share, implying a 4.6% annual yield.

Truist Financial Corp lowered its position in Extra Space Storage Inc (NYSE:EXR - Free Report) by 76.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,392 shares of the real estate investment trust's stock after selling 11,294 shares during the period. Truist Financial Corp's holdings in Extra Space Storage were worth $442,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Cromwell Holdings LLC raised its position in shares of Extra Space Storage by 14.6% during the 4th quarter. Cromwell Holdings LLC now owns 574 shares of the real estate investment trust's stock worth $75,000 after purchasing an additional 73 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Extra Space Storage by 60.2% during the 3rd quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 80 shares during the last quarter. Gilman Hill Asset Management LLC raised its position in shares of Extra Space Storage by 5.0% during the 4th quarter. Gilman Hill Asset Management LLC now owns 1,690 shares of the real estate investment trust's stock worth $220,000 after purchasing an additional 80 shares during the last quarter. Brown Advisory Inc. raised its position in shares of Extra Space Storage by 1.8% during the 2nd quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust's stock worth $653,000 after purchasing an additional 80 shares during the last quarter. Finally, Prestige Wealth Management Group LLC raised its position in shares of Extra Space Storage by 2.9% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 3,128 shares of the real estate investment trust's stock worth $441,000 after purchasing an additional 88 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Analysts Set New Price Targets

EXR has been the subject of several research analyst reports. Bank of America downgraded shares of Extra Space Storage from a "neutral" rating to an "underperform" rating and set a $143.00 price target for the company. in a research report on Thursday, February 5th. Barclays upped their price target on shares of Extra Space Storage from $164.00 to $170.00 and gave the stock an "overweight" rating in a research report on Thursday, March 5th. Wall Street Zen downgraded shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Saturday, April 25th. Royal Bank Of Canada upped their price target on shares of Extra Space Storage from $142.00 to $153.00 and gave the stock a "sector perform" rating in a research report on Monday, February 23rd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Extra Space Storage in a research report on Tuesday, April 21st. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $151.00.

Extra Space Storage Stock Up 0.9%

EXR stock opened at $140.47 on Wednesday. The company has a market cap of $29.67 billion, a price-to-earnings ratio of 31.49, a PEG ratio of 4.53 and a beta of 1.22. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93. Extra Space Storage Inc has a 12 month low of $125.71 and a 12 month high of $155.19. The firm has a 50-day moving average of $138.80 and a two-hundred day moving average of $137.83.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.14 EPS for the quarter, missing analysts' consensus estimates of $2.01 by ($0.87). The business had revenue of $856.03 million during the quarter, compared to analyst estimates of $851.35 million. Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The firm's revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.00 EPS. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. As a group, analysts forecast that Extra Space Storage Inc will post 8.23 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $1.62 per share. The ex-dividend date is Monday, June 15th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.6%. Extra Space Storage's dividend payout ratio (DPR) is currently 145.29%.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $142.08, for a total transaction of $1,065,600.00. Following the completion of the sale, the chief executive officer owned 66,495 shares in the company, valued at $9,447,609.60. This trade represents a 10.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.96% of the stock is owned by corporate insiders.

Extra Space Storage Company Profile

Extra Space Storage NYSE: EXR is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.

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