Anson Funds Management LP Buys Shares of 5,116 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 13F filing with the SEC. The fund acquired 5,116 shares of the real estate investment trust's stock, valued at approximately $765,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund lifted its holdings in Extra Space Storage by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,160 shares of the real estate investment trust's stock worth $2,717,000 after buying an additional 66 shares during the last quarter. Wedge Capital Management L L P NC lifted its stake in Extra Space Storage by 1.3% during the fourth quarter. Wedge Capital Management L L P NC now owns 5,138 shares of the real estate investment trust's stock worth $769,000 after purchasing an additional 68 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in Extra Space Storage by 14.9% in the fourth quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust's stock worth $78,000 after purchasing an additional 68 shares during the period. Quadrant Capital Group LLC increased its stake in Extra Space Storage by 5.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,327 shares of the real estate investment trust's stock valued at $199,000 after purchasing an additional 73 shares during the last quarter. Finally, Checchi Capital Advisers LLC raised its holdings in shares of Extra Space Storage by 2.2% during the fourth quarter. Checchi Capital Advisers LLC now owns 3,449 shares of the real estate investment trust's stock worth $516,000 after purchasing an additional 75 shares during the period. Hedge funds and other institutional investors own 99.11% of the company's stock.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total value of $1,105,875.00. Following the completion of the transaction, the chief executive officer now owns 9,190 shares of the company's stock, valued at approximately $1,355,065.50. This trade represents a 44.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP William N. Springer sold 1,220 shares of the business's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $152.66, for a total transaction of $186,245.20. Following the sale, the executive vice president now directly owns 20,158 shares in the company, valued at approximately $3,077,320.28. This trade represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,392 shares of company stock worth $1,392,315 in the last quarter. 0.96% of the stock is owned by company insiders.

Extra Space Storage Price Performance

Shares of EXR traded down $1.95 during mid-day trading on Tuesday, hitting $147.43. The company's stock had a trading volume of 654,876 shares, compared to its average volume of 1,054,028. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The firm has a 50-day moving average price of $144.26 and a 200 day moving average price of $153.06. Extra Space Storage Inc. has a fifty-two week low of $121.03 and a fifty-two week high of $184.87. The stock has a market capitalization of $31.29 billion, a price-to-earnings ratio of 38.59, a PEG 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, April 29th. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.04. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm had revenue of $820.00 million for the quarter, compared to analyst estimates of $705.12 million. During the same quarter in the previous year, the business posted $1.96 earnings per share. The firm's quarterly revenue was up 2.6% compared to the same quarter last year. On average, research analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage's dividend payout ratio is 150.35%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Barclays dropped 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 note on Wednesday, March 12th. Royal Bank of Canada reduced their price objective on Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating for the company in a research report on Thursday, May 1st. The Goldman Sachs Group restated a "buy" rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Wells Fargo & Company reduced 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 report on Friday, February 21st. Finally, Evercore ISI raised their price target on Extra Space Storage from $144.00 to $149.00 and gave the company an "in-line" rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $165.42.

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.