Cubist Systematic Strategies LLC Invests $23.98 Million in Extra Space Storage Inc $EXR

Key Points

• Cubist Systematic Strategies LLC has acquired approximately 161,508 shares of Extra Space Storage Inc, totaling around $23.98 million and representing 0.08% of the company's stock.
• Extra Space Storage recently announced a quarterly dividend of $1.62 per share, yielding approximately 4.5%, with the ex-dividend date set for September 15th.
• The stock currently has a market cap of $30.51 billion and analysts maintain a consensus rating of "Hold" with a target price of $153.33.

Cubist Systematic Strategies LLC acquired a new position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 161,508 shares of the real estate investment trust's stock, valued at approximately $23,982,000. Cubist Systematic Strategies LLC owned about 0.08% of Extra Space Storage at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of EXR. D.A. Davidson & CO. lifted its holdings in shares of Extra Space Storage by 7.2% during the 1st quarter. D.A. Davidson & CO. now owns 1,895 shares of the real estate investment trust's stock worth $281,000 after acquiring an additional 127 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Extra Space Storage by 1.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 22,222 shares of the real estate investment trust's stock valued at $3,285,000 after buying an additional 398 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in Extra Space Storage by 21.4% during the first quarter. QRG Capital Management Inc. now owns 2,684 shares of the real estate investment trust's stock worth $399,000 after purchasing an additional 474 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Extra Space Storage by 24.3% during the first quarter. Farther Finance Advisors LLC now owns 1,464 shares of the real estate investment trust's stock worth $216,000 after purchasing an additional 286 shares during the last quarter. Finally, IFP Advisors Inc raised its position in Extra Space Storage by 1,376.5% in the first quarter. IFP Advisors Inc now owns 1,698 shares of the real estate investment trust's stock worth $252,000 after acquiring an additional 1,583 shares during the period. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Stock Performance

Extra Space Storage stock traded up $0.68 during mid-day trading on Thursday, hitting $143.88. The company had a trading volume of 1,435,470 shares, compared to its average volume of 1,185,543. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $30.54 billion, a price-to-earnings ratio of 31.21, a P/E/G ratio of 3.47 and a beta of 1.09. The company's fifty day moving average is $144.36 and its 200-day moving average is $146.08. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.05 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.01). The firm had revenue of $841.62 million during the quarter, compared to analyst estimates of $719.43 million. Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.06 earnings per share. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Equities research analysts predict that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $6.48 annualized dividend and a yield of 4.5%. Extra Space Storage's payout ratio is 140.56%.

Insiders Place Their Bets

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total value of $1,127,625.00. Following the transaction, the chief executive officer owned 27,260 shares of the company's stock, valued at approximately $4,098,541. The trade was a 21.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.36% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on EXR shares. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $146.00 price objective (down previously from $169.00) on shares of Extra Space Storage in a research note on Thursday, August 21st. Mizuho upped their price objective on shares of Extra Space Storage from $141.00 to $153.00 and gave the stock an "outperform" rating in a report on Wednesday, May 28th. Scotiabank decreased their price target on shares of Extra Space Storage from $166.00 to $162.00 and set a "sector outperform" rating for the company in a research note on Thursday, August 28th. Truist Financial dropped their price target on shares of Extra Space Storage from $158.00 to $150.00 and set a "hold" rating on the stock in a report on Tuesday, August 19th. Finally, BNP Paribas Exane initiated coverage on shares of Extra Space Storage in a research note on Tuesday, June 24th. They issued a "neutral" rating and a $156.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Extra Space Storage currently has a consensus rating of "Hold" and an average target price of $153.33.

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.