Landscape Capital Management L.L.C. Cuts Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Landscape Capital Management L.L.C. trimmed its position in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 21.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 16,391 shares of the real estate investment trust's stock after selling 4,373 shares during the period. Landscape Capital Management L.L.C.'s holdings in Extra Space Storage were worth $2,452,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

EXR has been the topic of several research reports. Barclays lowered their price objective on shares of 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. Scotiabank raised shares of Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and lowered their price target for the stock from $165.00 to $149.00 in a report on Wednesday. Mizuho initiated coverage on Extra Space Storage in a report on Wednesday. They set an "outperform" rating and a $141.00 price objective for the company. Royal Bank of Canada lowered their target price 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. Finally, Wells Fargo & Company cut 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. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $167.25.

Extra Space Storage Price Performance

Shares of EXR stock traded up $0.41 during trading hours on Wednesday, reaching $127.02. The stock had a trading volume of 457,058 shares, compared to its average volume of 1,059,497. The stock's fifty day simple moving average is $150.16 and its 200 day simple moving average is $157.78. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $26.96 billion, a PE ratio of 33.23, a PEG ratio of 7.76 and a beta of 0.96. Extra Space Storage Inc. has a 12 month low of $118.98 and a 12 month high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings results 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 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, equities research analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 5.10%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage's dividend payout ratio (DPR) is currently 160.40%.

Insider Transactions at Extra Space Storage

In related news, EVP William N. Springer sold 1,220 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the transaction, the executive vice president now directly owns 20,158 shares of the company's stock, valued at approximately $3,077,320.28. This trade represents a 5.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total value of $1,105,875.00. Following the completion of the sale, the chief executive officer now owns 9,190 shares of the company's stock, valued at $1,355,065.50. The trade was a 44.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,392 shares of company stock valued at $1,392,315. Insiders own 1.36% of the company's stock.

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.