Ferguson Wellman Capital Management Inc. Cuts Position in Extra Space Storage Inc. (NYSE:EXR)

Ferguson Wellman Capital Management Inc. lessened its holdings in Extra Space Storage Inc. (NYSE:EXR) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,468 shares of the real estate investment trust’s stock after selling 281 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Extra Space Storage were worth $1,886,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the company. EdgeRock Capital LLC acquired a new position in shares of Extra Space Storage during the 2nd quarter worth approximately $25,000. Centerpoint Advisors LLC purchased a new position in Extra Space Storage in the second quarter valued at $27,000. Blue Trust Inc. increased its holdings in Extra Space Storage by 540.5% in the second quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 200 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in Extra Space Storage by 2,760.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 276 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Extra Space Storage by 19.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock valued at $72,000 after buying an additional 76 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Extra Space Storage Stock Up 0.7 %

EXR stock opened at $171.28 on Friday. The stock has a market capitalization of $36.26 billion, a P/E ratio of 38.15, a PEG ratio of 6.47 and a beta of 0.86. The company has a 50 day moving average price of $174.47 and a two-hundred day moving average price of $159.00. Extra Space Storage Inc. has a one year low of $101.19 and a one year high of $184.87. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.20 and a current ratio of 0.20.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $1.62 dividend. The ex-dividend date was Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.78%. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

Insider Buying and Selling at Extra Space Storage

In related news, EVP Gwyn Goodson Mcneal sold 2,823 shares of Extra Space Storage stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $177.01, for a total transaction of $499,699.23. Following the transaction, the executive vice president now owns 32,855 shares in the company, valued at approximately $5,815,663.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $177.01, for a total value of $499,699.23. Following the transaction, the executive vice president now owns 32,855 shares in the company, valued at $5,815,663.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the completion of the transaction, the chief executive officer now owns 24,190 shares in the company, valued at $4,318,398.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,970 shares of company stock worth $3,367,307 in the last quarter. 1.36% of the stock is owned by insiders.

Analysts Set New Price Targets

EXR has been the topic of several research reports. Evercore ISI dropped their price objective on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. Royal Bank of Canada initiated coverage on shares of Extra Space Storage in a research report on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 price objective for the company. Scotiabank increased their target price on shares of Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a report on Thursday, August 22nd. Bank of America cut shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $172.00 to $155.00 in a report on Monday, August 5th. Finally, Truist Financial increased their target price on shares of Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a report on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Extra Space Storage currently has an average rating of “Hold” and an average target price of $170.80.

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.