Tidal Investments LLC Has $2.28 Million Position in Extra Space Storage Inc. (NYSE:EXR)

Tidal Investments LLC boosted its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 34.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,640 shares of the real estate investment trust's stock after purchasing an additional 3,234 shares during the quarter. Tidal Investments LLC's holdings in Extra Space Storage were worth $2,278,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB acquired a new position in shares of Extra Space Storage in the 3rd quarter valued at $654,000. World Investment Advisors LLC bought a new stake in Extra Space Storage in the third quarter valued at about $216,000. Sanctuary Advisors LLC increased its holdings in Extra Space Storage by 9.1% in the third quarter. Sanctuary Advisors LLC now owns 18,480 shares of the real estate investment trust's stock valued at $3,107,000 after purchasing an additional 1,549 shares during the last quarter. Brown Financial Advisors lifted its stake in Extra Space Storage by 69.1% in the third quarter. Brown Financial Advisors now owns 9,134 shares of the real estate investment trust's stock valued at $1,646,000 after buying an additional 3,731 shares during the period. Finally, Coldstream Capital Management Inc. boosted its holdings in Extra Space Storage by 8.9% during the third quarter. Coldstream Capital Management Inc. now owns 3,905 shares of the real estate investment trust's stock worth $699,000 after buying an additional 320 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Stock Down 0.7 %

NYSE:EXR traded down $1.11 during trading hours on Tuesday, reaching $154.49. 1,083,694 shares of the stock were exchanged, compared to its average volume of 1,020,716. The stock has a market cap of $32.75 billion, a PE ratio of 40.75, a PEG ratio of 8.03 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. The firm has a 50 day moving average of $166.28 and a 200 day moving average of $165.83. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing analysts' consensus estimates of $2.03 by ($1.12). The business had revenue of $824.80 million during the quarter, compared to the consensus estimate of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.02 EPS. On average, equities analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.19%. The ex-dividend date is Monday, December 16th. Extra Space Storage's payout ratio is 169.63%.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Tuesday, October 1st. The stock was 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 in the company, valued at approximately $4,318,398.80. This trade represents a 23.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Diane Olmstead sold 3,081 shares of the business's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $164.56, for a total value of $507,009.36. Following the transaction, the director now directly owns 5,877 shares in the company, valued at approximately $967,119.12. This trade represents a 34.39 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on EXR shares. Evercore ISI lowered their price target on Extra Space Storage from $170.00 to $168.00 and set an "in-line" rating for the company in a research note on Monday, October 14th. Jefferies Financial Group raised shares of Extra Space Storage from a "hold" rating to a "buy" rating and lifted their price target for the stock from $162.00 to $204.00 in a research report on Wednesday, September 18th. Royal Bank of Canada started coverage on shares of Extra Space Storage in a report on Tuesday, September 10th. They issued a "sector perform" rating and a $180.00 price target for the company. Truist Financial raised their price objective on Extra Space Storage from $167.00 to $168.00 and gave the stock a "hold" rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company reissued an "equal weight" rating and issued a $175.00 target price on shares of Extra Space Storage in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $171.43.

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.