Tudor Investment Corp ET AL Trims Stake in Extra Space Storage Inc. (NYSE:EXR)

Tudor Investment Corp ET AL cut its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 38.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 147,107 shares of the real estate investment trust’s stock after selling 92,103 shares during the period. Tudor Investment Corp ET AL owned about 0.07% of Extra Space Storage worth $22,007,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of EXR. Norges Bank purchased a new position in shares of Extra Space Storage during the 4th quarter valued at about $938,647,000. Manning & Napier Advisors LLC lifted its holdings in Extra Space Storage by 1,127.2% during the fourth quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust’s stock valued at $116,985,000 after purchasing an additional 718,266 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its holdings in Extra Space Storage by 91.2% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,089,753 shares of the real estate investment trust’s stock valued at $163,027,000 after purchasing an additional 519,934 shares in the last quarter. Cohen & Steers Inc. increased its stake in shares of Extra Space Storage by 5.9% in the fourth quarter. Cohen & Steers Inc. now owns 9,246,133 shares of the real estate investment trust’s stock worth $1,383,094,000 after purchasing an additional 516,941 shares in the last quarter. Finally, Amundi raised its position in shares of Extra Space Storage by 82.0% during the 4th quarter. Amundi now owns 828,644 shares of the real estate investment trust’s stock valued at $122,649,000 after purchasing an additional 373,274 shares during the period. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $141.05 on Monday. Extra Space Storage Inc. has a 52-week low of $121.03 and a 52-week high of $184.87. The company has a market cap of $29.93 billion, a price-to-earnings ratio of 36.92, a PEG ratio of 7.76 and a beta of 0.96. The firm’s fifty day moving average is $145.51 and its 200 day moving average is $154.10. 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 (NYSE:EXR) last announced its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $707.34 million. Sell-side analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage’s payout ratio is 160.40%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on EXR shares. Scotiabank raised shares of Extra Space Storage from a “sector perform” rating to a “sector outperform” rating and dropped their target price for the stock from $165.00 to $149.00 in a report on Wednesday, April 9th. Mizuho started coverage on Extra Space Storage in a research report on Wednesday, April 9th. They set an “outperform” rating and a $141.00 target price for the company. The Goldman Sachs Group reissued a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. Royal Bank of Canada cut their price objective on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Finally, StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $167.25.

Insider Buying and Selling

In other news, EVP William N. Springer sold 1,220 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the transaction, the executive vice president now directly owns 20,158 shares in the company, valued at approximately $3,077,320.28. This represents a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the sale, the chief executive officer now owns 9,190 shares of the company’s stock, valued at $1,355,065.50. The trade was a 44.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,392 shares of company stock valued at $1,392,315 in the last ninety days. 1.36% of the stock is owned by company insiders.

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.