Centiva Capital LP Makes New Investment in Extra Space Storage Inc. (NYSE:EXR)

Centiva Capital LP purchased a new position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,228 shares of the real estate investment trust's stock, valued at approximately $942,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EdgeRock Capital LLC bought a new position in Extra Space Storage during the second quarter worth about $25,000. Centerpoint Advisors LLC acquired a new position in shares of Extra Space Storage in the 2nd quarter valued at approximately $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Extra Space Storage in the 3rd quarter valued at approximately $33,000. Blue Trust Inc. increased its stake in Extra Space Storage by 540.5% during the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 200 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Extra Space Storage during the 3rd quarter worth approximately $42,000. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Stock Performance

NYSE:EXR traded down $0.10 during mid-day trading on Friday, hitting $163.54. The stock had a trading volume of 629,099 shares, compared to its average volume of 1,022,439. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The company's 50 day simple moving average is $168.43 and its 200 day simple moving average is $164.72. The stock has a market cap of $34.67 billion, a price-to-earnings ratio of 42.84, a PEG ratio of 8.33 and a beta of 0.89. Extra Space Storage Inc. has a twelve month low of $131.02 and a twelve month high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.03 by ($1.12). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company had revenue of $824.80 million for the quarter, compared to analyst estimates of $826.93 million. During the same quarter in the prior year, the business posted $2.02 EPS. The business's quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts forecast that Extra Space Storage Inc. will post 8.09 earnings per share for the current year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend is Monday, December 16th. Extra Space Storage's dividend payout ratio is 169.63%.

Insiders Place Their Bets

In other Extra Space Storage news, Director Kenneth M. Woolley sold 6,647 shares of Extra Space Storage stock in a transaction on Friday, September 13th. The stock was sold at an average price of $177.23, for a total value of $1,178,047.81. Following the completion of the transaction, the director now directly owns 404,306 shares of the company's stock, valued at $71,655,152.38. The trade was a 1.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the completion of the transaction, the chief executive officer now owns 24,190 shares of the company's stock, valued at $4,318,398.80. The trade was a 23.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,228 shares of company stock worth $3,023,957 in the last 90 days. Company insiders own 1.36% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Evercore ISI lowered their price objective on shares of Extra Space Storage from $170.00 to $168.00 and set an "in-line" rating for the company in a research report on Monday, October 14th. KeyCorp increased their target price on Extra Space Storage from $172.00 to $178.00 and gave the stock an "overweight" rating in a report on Monday, September 9th. Royal Bank of Canada started coverage on Extra Space Storage in a report on Tuesday, September 10th. They issued a "sector perform" rating and a $180.00 price target on the stock. Barclays increased their price objective on Extra Space Storage from $188.00 to $192.00 and gave the stock an "overweight" rating in a report on Monday, October 28th. Finally, StockNews.com cut Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Extra Space Storage currently has an average rating of "Hold" and a consensus price target of $171.43.

Extra Space Storage 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.