M&T Bank Corp Has $7.93 Million Holdings in Extra Space Storage Inc. (NYSE:EXR)

M&T Bank Corp decreased its holdings in Extra Space Storage Inc. (NYSE:EXR) by 0.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,023 shares of the real estate investment trust’s stock after selling 371 shares during the period. M&T Bank Corp’s holdings in Extra Space Storage were worth $7,933,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in EXR. Graypoint LLC boosted its holdings in shares of Extra Space Storage by 4.3% during the 3rd quarter. Graypoint LLC now owns 1,575 shares of the real estate investment trust’s stock worth $284,000 after buying an additional 65 shares during the period. Hummer Financial Advisory Services Inc lifted its position in Extra Space Storage by 1.2% during the third quarter. Hummer Financial Advisory Services Inc now owns 5,920 shares of the real estate investment trust’s stock worth $1,067,000 after acquiring an additional 70 shares during the last quarter. Buckley Wealth Management LLC boosted its holdings in shares of Extra Space Storage by 1.9% during the third quarter. Buckley Wealth Management LLC now owns 3,811 shares of the real estate investment trust’s stock worth $687,000 after acquiring an additional 71 shares during the period. Bleakley Financial Group LLC grew its position in shares of Extra Space Storage by 4.1% in the third quarter. Bleakley Financial Group LLC now owns 1,973 shares of the real estate investment trust’s stock valued at $356,000 after purchasing an additional 77 shares during the last quarter. Finally, Aptus Capital Advisors LLC increased its stake in shares of Extra Space Storage by 5.5% during the third quarter. Aptus Capital Advisors LLC now owns 1,570 shares of the real estate investment trust’s stock worth $283,000 after purchasing an additional 82 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Stock Down 0.5 %

Shares of EXR opened at $159.52 on Thursday. The company has a market capitalization of $33.82 billion, a PE ratio of 41.76, a PEG ratio of 8.23 and a beta of 0.89. The stock’s 50-day moving average price is $167.13 and its two-hundred day moving average price is $165.31. 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 Inc. has a 12 month low of $131.02 and a 12 month high of $184.87.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). The firm had revenue of $824.80 million for the quarter, compared to analyst estimates of $826.93 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.02 EPS. On average, analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a yield of 4.06%. Extra Space Storage’s payout ratio is currently 169.63%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. KeyCorp boosted their target price on shares of Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Truist Financial boosted their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a report on Thursday, December 5th. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Scotiabank cut their price target on Extra Space Storage from $169.00 to $167.00 and set a “sector underperform” rating for the company in a research note on Monday, November 25th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $175.00 price objective on shares of Extra Space Storage in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $171.43.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, Director Kenneth M. Woolley sold 6,647 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $177.23, for a total value of $1,178,047.81. Following the completion of the sale, the director now owns 404,306 shares of the company’s stock, valued at approximately $71,655,152.38. This trade represents a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Diane Olmstead sold 3,081 shares of Extra Space Storage stock in a transaction on Friday, November 15th. The shares were sold at an average price of $164.56, for a total transaction of $507,009.36. Following the completion of the sale, the director now directly owns 5,877 shares of the company’s stock, valued at approximately $967,119.12. The trade was a 34.39 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,228 shares of company stock valued at $3,023,957. Corporate insiders own 1.36% of the company’s stock.

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.