Boothbay Fund Management LLC Takes Position in Extra Space Storage Inc. (NYSE:EXR)

Boothbay Fund Management LLC acquired a new position in Extra Space Storage Inc. (NYSE:EXR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,964 shares of the real estate investment trust's stock, valued at approximately $743,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EXR. Susquehanna Fundamental Investments LLC bought a new position in Extra Space Storage in the fourth quarter valued at about $14,221,000. Virtus ETF Advisers LLC grew its position in shares of Extra Space Storage by 22.4% in the 4th quarter. Virtus ETF Advisers LLC now owns 7,851 shares of the real estate investment trust's stock valued at $1,175,000 after purchasing an additional 1,438 shares during the period. Three Seasons Wealth LLC bought a new stake in shares of Extra Space Storage during the fourth quarter worth $449,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Extra Space Storage in the 4th quarter valued at about $215,000. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Extra Space Storage in the 4th quarter valued at approximately $19,164,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EXR. StockNews.com raised shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Wednesday. Barclays reduced their price objective on shares of Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating for the company in a research report on Wednesday, March 12th. Royal Bank of Canada decreased their target price on Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating on the stock in a research report on Thursday. Evercore ISI raised their price target on shares of Extra Space Storage from $144.00 to $149.00 and gave the stock an "in-line" rating in a research report on Thursday. Finally, Mizuho initiated coverage on Extra Space Storage in a report on Wednesday, April 9th. They issued an "outperform" rating and a $141.00 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $165.42.

Extra Space Storage Price Performance

Shares of NYSE EXR traded up $1.27 during mid-day trading on Friday, hitting $149.55. 838,078 shares of the stock traded hands, compared to its average volume of 1,056,236. The company has a market cap of $31.74 billion, a PE ratio of 39.15, a price-to-earnings-growth ratio of 7.76 and a beta of 0.96. 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 simple moving average of $144.35 and a two-hundred day simple moving average of $153.46. Extra Space Storage Inc. has a twelve month low of $121.03 and a twelve month high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.04. The firm had revenue of $820.00 million for the quarter, compared to analyst estimates of $705.12 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.96 EPS. As a group, equities research analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $1.62 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.33%. Extra Space Storage's dividend payout ratio (DPR) is presently 150.35%.

Insider Activity

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company'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 sale, the chief executive officer now owns 9,190 shares of the company's stock, valued at approximately $1,355,065.50. This represents a 44.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph J. Bonner sold 672 shares of Extra Space Storage stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the sale, the director now owns 4,557 shares of the company's stock, valued at approximately $679,448.70. The trade was a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,392 shares of company stock valued at $1,392,315. Company insiders own 0.96% of the company's stock.

Extra Space Storage Company 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.