Chevy Chase Trust Holdings LLC Lowers Stake in Extra Space Storage Inc. (NYSE:EXR)

Chevy Chase Trust Holdings LLC reduced its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,240 shares of the real estate investment trust’s stock after selling 2,387 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Extra Space Storage worth $16,642,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Asset Planning Inc purchased a new position in Extra Space Storage during the 4th quarter valued at about $52,000. V Square Quantitative Management LLC raised its holdings in Extra Space Storage by 11.5% in the fourth quarter. V Square Quantitative Management LLC now owns 2,636 shares of the real estate investment trust’s stock worth $394,000 after buying an additional 272 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in Extra Space Storage by 3.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 399,138 shares of the real estate investment trust’s stock worth $59,108,000 after buying an additional 11,875 shares during the last quarter. Values First Advisors Inc. raised its holdings in Extra Space Storage by 3.0% in the fourth quarter. Values First Advisors Inc. now owns 3,726 shares of the real estate investment trust’s stock worth $557,000 after buying an additional 110 shares during the last quarter. Finally, Quent Capital LLC raised its holdings in Extra Space Storage by 89.0% in the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 154 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Truist Financial lifted their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $175.00 price target on shares of Extra Space Storage in a research note on Monday, October 21st. Scotiabank upgraded shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price target for the company in a research note on Friday, January 10th. Finally, Barclays reduced their price target on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $174.00.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the completion of the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.36% of the stock is currently owned by company insiders.

Extra Space Storage Stock Performance

Shares of NYSE EXR opened at $154.96 on Friday. The firm has a 50 day moving average of $152.13 and a 200 day moving average of $163.94. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $32.85 billion, a price-to-earnings ratio of 40.57, a price-to-earnings-growth ratio of 7.77 and a beta of 0.91. Extra Space Storage Inc. has a 12-month low of $131.02 and a 12-month high of $184.87.

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.