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

Capital Fund Management S.A. bought a new stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 41,740 shares of the real estate investment trust's stock, valued at approximately $6,244,000.

Several other large investors have also added to or reduced their stakes in EXR. Raymond James Financial Inc. bought a new stake in shares of Extra Space Storage in the 4th quarter valued at $46,120,000. APG Asset Management N.V. bought a new stake in Extra Space Storage in the fourth quarter valued at $20,730,000. Greenland Capital Management LP increased its stake in Extra Space Storage by 80.3% in the fourth quarter. Greenland Capital Management LP now owns 10,816 shares of the real estate investment trust's stock valued at $1,618,000 after purchasing an additional 4,816 shares in the last quarter. FIL Ltd raised its holdings in shares of Extra Space Storage by 21.0% during the fourth quarter. FIL Ltd now owns 29,884 shares of the real estate investment trust's stock valued at $4,471,000 after purchasing an additional 5,187 shares during the period. Finally, Shelton Capital Management boosted its position in shares of Extra Space Storage by 2.1% during the 4th quarter. Shelton Capital Management now owns 17,300 shares of the real estate investment trust's stock worth $2,588,000 after purchasing an additional 356 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Stock Up 2.0 %

NYSE:EXR traded up $2.77 on Thursday, hitting $140.99. The stock had a trading volume of 714,420 shares, compared to its average volume of 1,067,392. Extra Space Storage Inc. has a 1 year low of $121.03 and a 1 year high of $184.87. The firm's fifty day simple moving average is $147.56 and its two-hundred day simple moving average is $155.95. The stock has a market cap of $29.92 billion, a P/E ratio of 36.91, a price-to-earnings-growth ratio of 7.76 and a beta of 0.96. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $821.90 million for the quarter, compared to analysts' expectations of $707.34 million. Analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.60%. The ex-dividend date was Friday, March 14th. Extra Space Storage's dividend payout ratio is 160.40%.

Insider Activity

In related news, EVP William N. Springer sold 1,220 shares of the business's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the transaction, the chief executive officer now owns 9,190 shares of the company's stock, valued at $1,355,065.50. This represents a 44.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,392 shares of company stock valued at $1,392,315 in the last three months. Company insiders own 1.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. 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. Barclays lowered their target price on Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 12th. StockNews.com downgraded shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Friday, March 7th. Wells Fargo & Company decreased their price target on shares of Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating for the company in a research note on Friday, February 21st. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Extra Space Storage in a research note 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 stock. According to MarketBeat.com, Extra Space Storage presently has an average rating of "Hold" and an average price target of $167.25.

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.