Hancock Whitney Corp Sells 292 Shares of Extra Space Storage Inc. (NYSE:EXR)

Hancock Whitney Corp trimmed its stake in Extra Space Storage Inc. (NYSE:EXR) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,737 shares of the real estate investment trust’s stock after selling 292 shares during the period. Hancock Whitney Corp’s holdings in Extra Space Storage were worth $2,446,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. GSA Capital Partners LLP purchased a new stake in Extra Space Storage during the fourth quarter valued at about $3,304,000. State of Tennessee Treasury Department lifted its position in Extra Space Storage by 252.1% in the 4th quarter. State of Tennessee Treasury Department now owns 114,819 shares of the real estate investment trust’s stock worth $18,409,000 after buying an additional 82,207 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Extra Space Storage by 19.3% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 247,203 shares of the real estate investment trust’s stock worth $36,307,000 after buying an additional 40,055 shares in the last quarter. Norden Group LLC bought a new position in Extra Space Storage during the first quarter valued at approximately $1,947,000. Finally, Gateway Investment Advisers LLC bought a new position in Extra Space Storage during the second quarter valued at approximately $16,026,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EXR has been the subject of a number of recent research reports. Raymond James boosted their price objective on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Barclays upped their price target on shares of Extra Space Storage from $158.00 to $188.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Evercore ISI raised their price objective on Extra Space Storage from $167.00 to $170.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Bank of America lowered Extra Space Storage from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $172.00 to $155.00 in a research report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $170.93.

Extra Space Storage Price Performance

Shares of Extra Space Storage stock opened at $180.41 on Friday. The company has a market cap of $38.20 billion, a PE ratio of 40.18, a P/E/G ratio of 2.56 and a beta of 0.86. The business has a 50 day moving average of $170.03 and a 200 day moving average of $154.77. Extra Space Storage Inc. has a 52 week low of $101.19 and a 52 week high of $184.87. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.76.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date is Monday, September 16th. Extra Space Storage’s payout ratio is 144.32%.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $152.58, for a total value of $1,144,350.00. Following the completion of the sale, the chief executive officer now directly owns 31,690 shares in the company, valued at $4,835,260.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Gwyn Goodson Mcneal sold 2,823 shares of Extra Space Storage stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $177.01, for a total transaction of $499,699.23. Following the sale, the executive vice president now directly owns 32,855 shares in the company, valued at $5,815,663.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the completion of the transaction, the chief executive officer now owns 31,690 shares of the company’s stock, valued at approximately $4,835,260.20. The disclosure for this sale can be found here. Insiders have sold 18,970 shares of company stock worth $3,172,757 over the last 90 days. 1.36% of the stock is owned by company insiders.

About Extra Space Storage

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.