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

ExodusPoint Capital Management LP lifted its holdings in Extra Space Storage Inc. (NYSE:EXR) by 9.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 165,496 shares of the real estate investment trust’s stock after acquiring an additional 14,244 shares during the period. ExodusPoint Capital Management LP’s holdings in Extra Space Storage were worth $24,758,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Oregon Public Employees Retirement Fund grew its stake in shares of Extra Space Storage by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,160 shares of the real estate investment trust’s stock worth $2,717,000 after buying an additional 66 shares during the last quarter. Wedge Capital Management L L P NC lifted its stake in shares of Extra Space Storage by 1.3% in the 4th quarter. Wedge Capital Management L L P NC now owns 5,138 shares of the real estate investment trust’s stock valued at $769,000 after acquiring an additional 68 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in shares of Extra Space Storage by 14.9% during the 4th quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust’s stock valued at $78,000 after acquiring an additional 68 shares in the last quarter. Checchi Capital Advisers LLC grew its position in Extra Space Storage by 2.2% during the 4th quarter. Checchi Capital Advisers LLC now owns 3,449 shares of the real estate investment trust’s stock worth $516,000 after acquiring an additional 75 shares during the last quarter. Finally, Harbour Investments Inc. increased its holdings in Extra Space Storage by 90.9% in the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 80 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on EXR. Truist Financial lifted their price target on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Wells Fargo & Company reduced their target price on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. Royal Bank of Canada dropped their price target 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. Scotiabank reduced their price objective on shares of Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group reaffirmed 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, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $171.09.

Insider Activity at Extra Space Storage

In other news, Director Joseph J. Bonner sold 672 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the sale, the director now directly owns 4,557 shares of the company’s stock, valued at $679,448.70. This represents a 12.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction that occurred on 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. The trade was a 5.71 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by insiders.

Extra Space Storage Trading Up 0.1 %

EXR opened at $147.96 on Thursday. The company has a fifty day moving average price of $152.17 and a two-hundred day moving average price of $159.40. Extra Space Storage Inc. has a 1-year low of $131.02 and a 1-year high of $184.87. The company has a market cap of $31.37 billion, a P/E ratio of 38.73, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. 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 issued its 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. The business had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

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

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.