Fifth Third Bancorp Has $1.76 Million Holdings in Extra Space Storage Inc (NYSE:EXR)

Fifth Third Bancorp increased its stake in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 25.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,835 shares of the real estate investment trust's stock after acquiring an additional 2,397 shares during the period. Fifth Third Bancorp's holdings in Extra Space Storage were worth $1,757,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Harbour Investments Inc. raised its holdings in shares of Extra Space Storage by 90.9% in the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 80 shares during the period. Quarry LP increased its position in Extra Space Storage by 156.1% during the fourth quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock worth $53,000 after buying an additional 217 shares during the last quarter. Kestra Investment Management LLC bought a new stake in Extra Space Storage in the fourth quarter valued at approximately $54,000. Parvin Asset Management LLC acquired a new stake in shares of Extra Space Storage in the fourth quarter valued at approximately $62,000. Finally, Lindbrook Capital LLC lifted its position in shares of Extra Space Storage by 14.9% in the fourth quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust's stock valued at $78,000 after buying an additional 68 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Price Performance

NYSE:EXR traded down $1.21 during trading hours on Tuesday, reaching $147.76. 635,816 shares of the company were exchanged, compared to its average volume of 1,054,573. The business has a 50 day moving average of $145.71 and a 200 day moving average of $149.41. Extra Space Storage Inc has a 1-year low of $121.03 and a 1-year high of $184.87. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.33 and a quick ratio of 0.33. The company has a market capitalization of $31.36 billion, a P/E ratio of 18.26, a P/E/G ratio of 3.62 and a beta of 1.11.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, beating analysts' consensus estimates of $1.96 by $0.04. Extra Space Storage had a return on equity of 6.11% and a net margin of 27.84%. The firm had revenue of $820.00 million during the quarter, compared to the consensus estimate of $705.12 million. During the same period in the prior year, the company posted $1.96 EPS. The company's revenue was up 2.6% compared to the same quarter last year. Research analysts forecast that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend is Monday, June 16th. Extra Space Storage's dividend payout ratio is currently 150.35%.

Insider Buying and Selling at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the sale, the chief executive officer now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EXR. Mizuho increased their price target on Extra Space Storage from $141.00 to $153.00 and gave the company an "outperform" rating in a research note on Wednesday, May 28th. JPMorgan Chase & Co. raised their target price on shares of Extra Space Storage from $160.00 to $162.00 and gave the stock a "neutral" rating in a research note on Friday. 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 shares of Extra Space Storage from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th. Finally, Wells Fargo & Company cut their price objective on shares of 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. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $159.54.

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.