ExodusPoint Capital Management LP Grows Stake in Extra Space Storage Inc. (NYSE:EXR)

ExodusPoint Capital Management LP raised its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 9.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 165,496 shares of the real estate investment trust's stock after purchasing an additional 14,244 shares during the quarter. ExodusPoint Capital Management LP owned 0.08% of Extra Space Storage worth $24,758,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EXR. Golden State Wealth Management LLC purchased a new stake in Extra Space Storage during the 4th quarter valued at $25,000. Harbour Investments Inc. lifted its stake in Extra Space Storage by 90.9% during the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 80 shares during the period. Quent Capital LLC boosted its stake in shares of Extra Space Storage by 89.0% in the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust's stock worth $49,000 after buying an additional 154 shares during the last quarter. Asset Planning Inc purchased a new position in shares of Extra Space Storage during the 4th quarter valued at about $52,000. Finally, Kestra Investment Management LLC purchased a new stake in Extra Space Storage in the 4th quarter worth approximately $54,000. Institutional investors own 99.11% of the company's stock.

Insider Activity

In other Extra Space Storage news, Director Joseph J. Bonner sold 672 shares of Extra Space Storage 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 transaction, the director now directly owns 4,557 shares of the company's stock, valued at approximately $679,448.70. The trade was a 12.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 owns 20,158 shares in the company, valued at $3,077,320.28. The trade was a 5.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,392 shares of company stock worth $1,392,315. Company insiders own 1.36% of the company's stock.

Extra Space Storage Trading Up 0.1 %

Extra Space Storage stock traded up $0.08 during mid-day trading on Tuesday, hitting $132.46. The company's stock had a trading volume of 367,151 shares, compared to its average volume of 1,055,684. 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 has a 50 day moving average of $151.26 and a 200-day moving average of $158.38. Extra Space Storage Inc. has a one year low of $130.74 and a one year high of $184.87. The stock has a market cap of $28.11 billion, a PE ratio of 34.68, a P/E/G ratio of 7.76 and a beta of 0.96.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.93. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm had revenue of $821.90 million for the quarter, compared to analysts' expectations of $707.34 million. On average, research analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The company also recently declared 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 4.89%. The ex-dividend date was Friday, March 14th. Extra Space Storage's payout ratio is 160.40%.

Analyst Upgrades and Downgrades

EXR has been the subject of a number of recent analyst reports. The Goldman Sachs Group reiterated a "buy" rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Barclays cut their price target on Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. Wells Fargo & Company dropped their price target on 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. StockNews.com lowered shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Friday, March 7th. Finally, Royal Bank of Canada cut their target price 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. Two equities research 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. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $171.09.

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.