Anson Funds Management LP Invests $765,000 in Extra Space Storage Inc. (NYSE:EXR)

Anson Funds Management LP acquired a new position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,116 shares of the real estate investment trust's stock, valued at approximately $765,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Golden State Wealth Management LLC bought a new position in Extra Space Storage during the 4th quarter valued at about $25,000. Harbour Investments Inc. boosted its holdings in shares of Extra Space Storage by 90.9% in the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 80 shares in the last quarter. Quent Capital LLC grew its position in 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 worth $49,000 after acquiring an additional 154 shares during the last quarter. Asset Planning Inc acquired a new stake in shares of Extra Space Storage in the fourth quarter valued at $52,000. Finally, Quarry LP raised its holdings in shares of Extra Space Storage by 156.1% in the fourth quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock valued at $53,000 after buying an additional 217 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

Insider Buying and Selling at Extra Space Storage

In other news, EVP William N. Springer sold 1,220 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction 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. This represents a 5.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the completion of the transaction, the chief executive officer now directly owns 9,190 shares of the company's stock, valued at $1,355,065.50. This represents a 44.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,392 shares of company stock worth $1,392,315. Insiders own 1.36% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on EXR. Mizuho initiated coverage on shares of Extra Space Storage in a research report on Wednesday, April 9th. They issued an "outperform" rating and a $141.00 price objective for the company. Scotiabank raised Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and reduced their price objective for the stock from $165.00 to $149.00 in a report on Wednesday, April 9th. Evercore ISI lifted their target price on Extra Space Storage from $144.00 to $149.00 and gave the company an "in-line" rating in a research note on Thursday, May 1st. StockNews.com raised Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Wednesday, April 30th. Finally, Barclays dropped their price objective on Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating for the company in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $165.42.

Extra Space Storage Stock Up 0.8 %

Shares of EXR traded up $1.14 during midday trading on Thursday, hitting $148.37. The stock had a trading volume of 318,278 shares, compared to its average volume of 1,050,633. The firm has a market cap of $31.49 billion, a price-to-earnings ratio of 38.84, a price-to-earnings-growth ratio of 7.76 and a beta of 1.14. The company has a 50 day simple moving average of $144.03 and a two-hundred day simple moving average of $152.98. Extra Space Storage Inc. has a twelve month low of $121.03 and a twelve month high of $184.87. 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 released its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, beating the consensus estimate of $1.96 by $0.04. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm had revenue of $820.00 million for the quarter, compared to analysts' expectations of $705.12 million. During the same quarter in the previous year, the business posted $1.96 EPS. The business's quarterly revenue was up 2.6% compared to the same quarter last year. On average, analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage's dividend payout ratio (DPR) is currently 150.35%.

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.