ExodusPoint Capital Management LP Purchases 14,244 Shares of Extra Space Storage Inc. (NYSE:EXR)

ExodusPoint Capital Management LP grew its position in Extra Space Storage Inc. (NYSE:EXR) by 9.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 165,496 shares of the real estate investment trust’s stock after purchasing an additional 14,244 shares during the period. ExodusPoint Capital Management LP owned about 0.08% of Extra Space Storage worth $24,758,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EXR. D.A. Davidson & CO. bought a new position in Extra Space Storage during the third quarter worth about $257,000. PEAK6 Investments LLC raised its position in shares of Extra Space Storage by 16.2% during the third quarter. PEAK6 Investments LLC now owns 2,298 shares of the real estate investment trust’s stock worth $414,000 after purchasing an additional 320 shares during the period. Walleye Capital LLC lifted its holdings in shares of Extra Space Storage by 174.8% during the 3rd quarter. Walleye Capital LLC now owns 1,280 shares of the real estate investment trust’s stock valued at $231,000 after purchasing an additional 2,992 shares in the last quarter. Erste Asset Management GmbH bought a new stake in Extra Space Storage during the 3rd quarter worth approximately $1,631,000. Finally, Benjamin Edwards Inc. raised its holdings in Extra Space Storage by 168.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 4,629 shares of the real estate investment trust’s stock worth $835,000 after buying an additional 2,905 shares during the period. 99.11% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Joseph J. Bonner sold 672 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $149.10, for a total transaction of $100,195.20. Following the completion of the sale, the director now owns 4,557 shares in the company, valued at approximately $679,448.70. This trade represents a 12.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the sale, the executive vice president now directly owns 20,158 shares of the company’s stock, valued at $3,077,320.28. The trade was a 5.71 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.36% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on EXR. Truist Financial upped their price target on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Barclays reduced their target price on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Royal Bank of Canada dropped their price target on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Finally, Wells Fargo & Company decreased their price objective on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Extra Space Storage currently has an average rating of “Hold” and a consensus price target of $171.09.

Extra Space Storage Stock Up 0.1 %

NYSE:EXR opened at $147.96 on Thursday. The firm has a market capitalization of $31.37 billion, a price-to-earnings ratio of 38.73, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a twelve month low of $131.02 and a twelve month high of $184.87. The stock’s 50 day moving average price is $152.17 and its two-hundred day moving average price is $159.40.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.93. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm had revenue of $821.90 million for the quarter, compared to analyst estimates of $707.34 million. Equities research analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage’s payout ratio is currently 160.40%.

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.