Holocene Advisors LP Sells 5,121 Shares of Extra Space Storage Inc. (NYSE:EXR)

Holocene Advisors LP reduced its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 40.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,532 shares of the real estate investment trust's stock after selling 5,121 shares during the quarter. Holocene Advisors LP's holdings in Extra Space Storage were worth $1,357,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Graypoint LLC increased its stake in shares of Extra Space Storage by 4.3% in the 3rd quarter. Graypoint LLC now owns 1,575 shares of the real estate investment trust's stock valued at $284,000 after acquiring an additional 65 shares during the last quarter. Hummer Financial Advisory Services Inc increased its stake in shares of Extra Space Storage by 1.2% in the 3rd quarter. Hummer Financial Advisory Services Inc now owns 5,920 shares of the real estate investment trust's stock valued at $1,067,000 after acquiring an additional 70 shares during the last quarter. Buckley Wealth Management LLC increased its stake in shares of Extra Space Storage by 1.9% in the 3rd quarter. Buckley Wealth Management LLC now owns 3,811 shares of the real estate investment trust's stock valued at $687,000 after acquiring an additional 71 shares during the last quarter. Bleakley Financial Group LLC increased its stake in shares of Extra Space Storage by 4.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 1,973 shares of the real estate investment trust's stock valued at $356,000 after acquiring an additional 77 shares during the last quarter. Finally, Park Avenue Securities LLC increased its stake in shares of Extra Space Storage by 2.1% in the 2nd quarter. Park Avenue Securities LLC now owns 3,773 shares of the real estate investment trust's stock valued at $586,000 after acquiring an additional 79 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Kenneth M. Woolley sold 6,647 shares of the 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 sale, the director now owns 404,306 shares in the company, valued at approximately $71,655,152.38. This represents a 1.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total value of $1,338,900.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,228 shares of company stock valued at $3,023,957. 1.36% of the stock is owned by insiders.

Extra Space Storage Stock Down 0.1 %

Shares of NYSE EXR traded down $0.10 during trading hours on Friday, hitting $163.54. The company had a trading volume of 632,686 shares, compared to its average volume of 813,727. The stock has a market capitalization of $34.67 billion, a P/E ratio of 42.81, a price-to-earnings-growth ratio of 8.25 and a beta of 0.89. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 1-year low of $131.02 and a 1-year high of $184.87. The firm's 50 day moving average is $168.16 and its 200-day moving average is $164.94.

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

Extra Space Storage Dividend Announcement

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 3.96%. The ex-dividend date is Monday, December 16th. Extra Space Storage's payout ratio is presently 169.63%.

Analyst Ratings Changes

A number of brokerages have recently commented on EXR. Royal Bank of Canada began coverage on Extra Space Storage in a research note on Tuesday, September 10th. They issued a "sector perform" rating and a $180.00 price target for the company. Truist Financial increased their target price on Extra Space Storage from $167.00 to $168.00 and gave the stock a "hold" rating in a research note on Thursday. StockNews.com cut Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Thursday, October 31st. Barclays increased their target price on Extra Space Storage from $188.00 to $192.00 and gave the stock an "overweight" rating in a research note on Monday, October 28th. Finally, Evercore ISI lowered their target price 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. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus 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.