Capital Fund Management S.A. Makes New $6.24 Million Investment in Extra Space Storage Inc. (NYSE:EXR)

Capital Fund Management S.A. acquired a new stake in Extra Space Storage Inc. (NYSE:EXR) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 41,740 shares of the real estate investment trust’s stock, valued at approximately $6,244,000.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Extra Space Storage in the 4th quarter valued at $938,647,000. Manning & Napier Advisors LLC increased its position in shares of Extra Space Storage by 1,127.2% in 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 acquiring an additional 718,266 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC raised 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 worth $163,027,000 after acquiring an additional 519,934 shares in the last quarter. Amundi boosted its position in Extra Space Storage by 82.0% during the fourth 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 last quarter. Finally, Prudential Financial Inc. grew its stake in Extra Space Storage by 28.5% in the fourth quarter. Prudential Financial Inc. now owns 1,442,852 shares of the real estate investment trust’s stock valued at $215,851,000 after purchasing an additional 320,083 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. The Goldman Sachs Group reiterated a “buy” rating on shares of Extra Space Storage in a research note on Thursday, March 6th. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Royal Bank of Canada decreased 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 report on Thursday, February 27th. Barclays dropped their target price on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. Finally, Wells Fargo & Company reduced their price target 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 analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $167.25.

Extra Space Storage Stock Performance

NYSE:EXR opened at $133.77 on Friday. The stock has a 50 day simple moving average of $148.62 and a 200 day simple moving average of $156.62. The stock has a market cap of $28.39 billion, a P/E ratio of 35.02, a PEG ratio of 7.76 and a beta of 0.96. Extra Space Storage Inc. has a 1-year low of $121.03 and a 1-year high of $184.87. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77.

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

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $1.62 per share. 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 4.84%. Extra Space Storage’s payout ratio is presently 160.40%.

Insider Activity

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the 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 directly owns 9,190 shares in the company, valued at $1,355,065.50. This represents a 44.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP William N. Springer sold 1,220 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $152.66, for a total transaction of $186,245.20. Following the completion of the transaction, the executive vice president now owns 20,158 shares of the company’s stock, valued at $3,077,320.28. The trade was a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,392 shares of company stock worth $1,392,315. Corporate insiders own 1.36% of the company’s stock.

About Extra Space Storage

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.