First Hawaiian Bank Invests $437,000 in Extra Space Storage Inc. (NYSE:EXR)

First Hawaiian Bank bought a new position in shares of Extra Space Storage Inc. (NYSE:EXR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,813 shares of the real estate investment trust’s stock, valued at approximately $437,000.

Several other hedge funds have also made changes to their positions in EXR. EdgeRock Capital LLC bought a new position in Extra Space Storage during the 4th quarter valued at $26,000. Creekmur Asset Management LLC acquired a new stake in shares of Extra Space Storage during the 4th quarter worth approximately $26,000. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Extra Space Storage by 200.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 300 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 200 shares during the last quarter. Cornerstone Advisors LLC bought a new stake in Extra Space Storage in the 1st quarter valued at about $74,000. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Extra Space Storage by 30.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 515 shares of the real estate investment trust’s stock valued at $83,000 after purchasing an additional 119 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on EXR. Raymond James upped their price target on Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Evercore ISI boosted their target price on Extra Space Storage from $140.00 to $151.00 and gave the stock an “in-line” rating in a research report on Monday, July 15th. Bank of America cut Extra Space Storage from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $172.00 to $155.00 in a research note on Monday. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Citigroup dropped their target price on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Extra Space Storage currently has an average rating of “Hold” and an average price target of $160.67.

Insider Buying and Selling 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 that occurred on 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 sale, the chief executive officer now 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 other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $152.58, for a total transaction 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 approximately $4,835,260.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph J. Bonner sold 677 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $148.22, for a total transaction of $100,344.94. Following the sale, the director now directly owns 5,229 shares of the company’s stock, valued at approximately $775,042.38. The disclosure for this sale can be found here. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Up 3.6 %

Shares of NYSE EXR traded up $5.77 during trading hours on Tuesday, hitting $164.51. The company had a trading volume of 963,505 shares, compared to its average volume of 1,086,389. The firm’s 50 day moving average is $156.37 and its 200-day moving average is $147.71. Extra Space Storage Inc. has a 1-year low of $101.19 and a 1-year high of $171.46. The stock has a market capitalization of $34.83 billion, a P/E ratio of 36.40, a price-to-earnings-growth ratio of 3.37 and a beta of 0.83. The company has a quick ratio of 0.15, a current ratio of 0.20 and a debt-to-equity ratio of 0.76.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date was Friday, June 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

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.