Stock Yards Bank & Trust Co. Lowers Stock Position in Extra Space Storage Inc $EXR

Stock Yards Bank & Trust Co. cut its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 1.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,778 shares of the real estate investment trust’s stock after selling 107 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Extra Space Storage were worth $1,147,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in EXR. JPMorgan Chase & Co. grew its stake in shares of Extra Space Storage by 205.7% during the 1st quarter. JPMorgan Chase & Co. now owns 4,094,555 shares of the real estate investment trust’s stock valued at $608,001,000 after buying an additional 2,755,265 shares during the period. Nuveen LLC purchased a new stake in shares of Extra Space Storage during the 1st quarter valued at $257,917,000. AQR Capital Management LLC grew its stake in shares of Extra Space Storage by 570.3% during the 1st quarter. AQR Capital Management LLC now owns 1,124,206 shares of the real estate investment trust’s stock valued at $166,180,000 after buying an additional 956,500 shares during the period. Resolution Capital Ltd grew its stake in shares of Extra Space Storage by 259.1% during the 1st quarter. Resolution Capital Ltd now owns 902,157 shares of the real estate investment trust’s stock valued at $133,961,000 after buying an additional 650,957 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Extra Space Storage by 18.7% during the 1st quarter. Invesco Ltd. now owns 3,056,384 shares of the real estate investment trust’s stock valued at $453,843,000 after buying an additional 480,642 shares during the period. 99.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EXR. UBS Group lowered their price objective on shares of Extra Space Storage from $169.00 to $160.00 and set a “buy” rating for the company in a research note on Tuesday, September 16th. Citigroup decreased their price target on shares of Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Friday, August 22nd. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $146.00 price target (down from $169.00) on shares of Extra Space Storage in a research report on Thursday, August 21st. BNP Paribas raised shares of Extra Space Storage to a “hold” rating in a research report on Tuesday, June 24th. Finally, JPMorgan Chase & Co. upped their price target on shares of Extra Space Storage from $160.00 to $162.00 and gave the stock a “neutral” rating in a research report on Friday, June 13th. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $148.64.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $142.97 on Friday. Extra Space Storage Inc has a 12 month low of $121.03 and a 12 month high of $175.57. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $30.35 billion, a P/E ratio of 31.01, a P/E/G ratio of 3.46 and a beta of 1.11. The company’s fifty day moving average price is $141.34 and its two-hundred day moving average price is $144.43.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.05 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.01). Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.The firm had revenue of $841.62 million during the quarter, compared to analyst estimates of $719.43 million. During the same quarter in the prior year, the firm earned $2.06 EPS. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. On average, research analysts anticipate that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a $1.62 dividend. The ex-dividend date was Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.5%. Extra Space Storage’s payout ratio is currently 140.56%.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $141.41, for a total value of $1,060,575.00. Following the transaction, the chief executive officer owned 19,760 shares in the company, valued at $2,794,261.60. The trade was a 27.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.96% of the stock is owned by corporate insiders.

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.