Stock Yards Bank & Trust Co. Increases Stake in Extra Space Storage Inc. (NYSE:EXR)

Stock Yards Bank & Trust Co. raised its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 0.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,874 shares of the real estate investment trust’s stock after buying an additional 156 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Extra Space Storage were worth $12,242,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in EXR. Ameritas Investment Company LLC purchased a new stake in Extra Space Storage during the first quarter valued at approximately $31,000. Koshinski Asset Management Inc. purchased a new stake in Extra Space Storage during the third quarter valued at approximately $34,000. CX Institutional increased its holdings in Extra Space Storage by 29.4% during the second quarter. CX Institutional now owns 255 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 58 shares during the last quarter. Berman Capital Advisors LLC increased its holdings in Extra Space Storage by 73.2% during the third quarter. Berman Capital Advisors LLC now owns 291 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 123 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in Extra Space Storage by 25.9% during the second quarter. O Shaughnessy Asset Management LLC now owns 301 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 62 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

EXR stock traded up $3.93 during trading on Thursday, hitting $204.32. 524,026 shares of the company’s stock traded hands, compared to its average volume of 734,507. Extra Space Storage Inc. has a 52 week low of $106.56 and a 52 week high of $204.74. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.49 and a current ratio of 0.49. The business has a fifty day simple moving average of $186.25 and a 200 day simple moving average of $174.23. The stock has a market capitalization of $27.36 billion, a price-to-earnings ratio of 38.05, a P/E/G ratio of 2.60 and a beta of 0.29.

Extra Space Storage (NYSE:EXR) last released its earnings results on Wednesday, October 27th. The real estate investment trust reported $1.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.71 by ($0.31). The firm had revenue of $351.36 million during the quarter, compared to the consensus estimate of $338.35 million. Extra Space Storage had a return on equity of 22.72% and a net margin of 49.09%. Extra Space Storage’s revenue was up 21.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.31 EPS. Research analysts forecast that Extra Space Storage Inc. will post 6.85 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 31st. Stockholders of record on Wednesday, December 15th will be issued a $1.25 dividend. The ex-dividend date is Tuesday, December 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.45%. Extra Space Storage’s dividend payout ratio (DPR) is presently 93.11%.

EXR has been the subject of a number of analyst reports. The Goldman Sachs Group reissued a “buy” rating and issued a $237.00 price objective on shares of Extra Space Storage in a research note on Monday, November 1st. Berenberg Bank initiated coverage on shares of Extra Space Storage in a research note on Thursday, October 7th. They issued a “buy” rating and a $198.00 price objective for the company. Zacks Investment Research cut shares of Extra Space Storage from a “buy” rating to a “hold” rating and set a $211.00 price objective for the company. in a research note on Wednesday, November 17th. KeyCorp increased their price objective on shares of Extra Space Storage from $194.00 to $209.00 and gave the stock an “overweight” rating in a research note on Thursday, November 18th. Finally, Truist Securities increased their price objective on shares of Extra Space Storage from $176.00 to $188.00 and gave the stock a “buy” rating in a research note on Monday, August 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $182.33.

In related news, COO Matthew T. Herrington sold 400 shares of the firm’s stock in a transaction dated Tuesday, November 2nd. The shares were sold at an average price of $202.53, for a total value of $81,012.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Joseph D. Margolis sold 3,750 shares of the firm’s stock in a transaction dated Friday, October 1st. The stock was sold at an average price of $168.81, for a total transaction of $633,037.50. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.

About Extra Space Storage

Extra Space Storage, Inc is a real estate investment trust. It operates through the following segments: Self-Storage Operations and Tenant Reinsurance. The Self-Storage Operations segment includes rental operations of wholly-owned stores. The Tenant Reinsurance segment includes reinsurance of risks relating to the loss of goods stored by tenants in stores.

See Also: Hedge Funds

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Institutional Ownership by Quarter for Extra Space Storage (NYSE:EXR)

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