Boothbay Fund Management LLC Purchases Shares of 4,964 Extra Space Storage Inc. (NYSE:EXR)

Boothbay Fund Management LLC acquired a new stake in Extra Space Storage Inc. (NYSE:EXR) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 4,964 shares of the real estate investment trust’s stock, valued at approximately $743,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in shares of Extra Space Storage in the 4th quarter valued at about $25,000. Harbour Investments Inc. increased its position in Extra Space Storage by 90.9% during the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 80 shares during the last quarter. Quent Capital LLC raised its stake 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 valued at $49,000 after buying an additional 154 shares during the period. Asset Planning Inc bought a new position in shares of Extra Space Storage during the 4th quarter worth approximately $52,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Extra Space Storage during the 4th quarter worth approximately $54,000. 99.11% of the stock is owned by institutional investors.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on 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 approximately $1,355,065.50. The trade was a 44.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph J. Bonner sold 672 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the transaction, the director now owns 4,557 shares of the company’s stock, valued at $679,448.70. The trade was a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,392 shares of company stock valued at $1,392,315. 1.36% of the stock is owned by insiders.

Wall Street Analyst Weigh In

EXR has been the topic of several research reports. StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday, March 7th. Scotiabank raised 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 shares of Extra Space Storage in a research note on Wednesday, April 9th. They issued an “outperform” rating and a $141.00 price target on the stock. Royal Bank of Canada dropped 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 research note on Thursday, February 27th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and a consensus price target of $167.25.

Extra Space Storage Stock Down 0.4 %

Shares of EXR opened at $141.39 on Wednesday. The firm has a 50 day simple moving average of $144.98 and a two-hundred day simple moving average of $153.81. The company has a market cap of $30.01 billion, a P/E ratio of 37.01, a P/E/G ratio of 7.76 and a beta of 0.96. Extra Space Storage Inc. has a one year low of $121.03 and a one year high of $184.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.04. The business had revenue of $820.00 million during the quarter, compared to the consensus estimate of $705.12 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Extra Space Storage’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.96 EPS. Research analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $1.62 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.58%. Extra Space Storage’s payout ratio is currently 160.40%.

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.