Extra Space Storage Inc $EXR Shares Sold by Tudor Investment Corp ET AL

Key Points

• Tudor Investment Corp cut its stake in Extra Space Storage by 22.5% in Q3, selling 25,141 shares and leaving it with 86,445 shares worth about $12.18 million.
• CEO Joseph D. Margolis sold 7,500 shares on March 13 for roughly $1.07 million, a 10.14% reduction that left him with 66,495 shares; insiders now own about 0.96% of the company.
• Extra Space Storage pays a quarterly dividend of $1.62 ($6.48 annualized) for a yield of 4.8%, though its dividend payout ratio is high at 140.87%.

Tudor Investment Corp ET AL reduced its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 22.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,445 shares of the real estate investment trust's stock after selling 25,141 shares during the period. Tudor Investment Corp ET AL's holdings in Extra Space Storage were worth $12,184,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Avalon Trust Co purchased a new stake in shares of Extra Space Storage in the third quarter worth about $28,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Extra Space Storage in the third quarter valued at about $28,000. Versant Capital Management Inc raised its holdings in shares of Extra Space Storage by 60.2% during the 3rd quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 80 shares during the period. Davis Capital Management acquired a new position in Extra Space Storage during the 3rd quarter worth approximately $35,000. Finally, Logan Capital Management Inc. lifted its position in Extra Space Storage by 313.7% during the 3rd quarter. Logan Capital Management Inc. now owns 302 shares of the real estate investment trust's stock worth $43,000 after acquiring an additional 229 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on EXR shares. Scotiabank increased their price objective on shares of Extra Space Storage from $145.00 to $156.00 and gave the company a "sector perform" rating in a research report on Monday, March 2nd. Truist Financial boosted their target price on shares of Extra Space Storage from $142.00 to $146.00 and gave the stock a "hold" rating in a research report on Tuesday, January 20th. Wall Street Zen raised shares of Extra Space Storage from a "sell" rating to a "hold" rating in a report on Saturday. Bank of America downgraded shares of Extra Space Storage from a "neutral" rating to an "underperform" rating and set a $143.00 price target on the stock. in a research note on Thursday, February 5th. Finally, Barclays boosted their price objective on shares of Extra Space Storage from $164.00 to $170.00 and gave the stock an "overweight" rating in a report on Thursday, March 5th. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $143.80.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $142.08, for a total value of $1,065,600.00. Following the completion of the sale, the chief executive officer owned 66,495 shares of the company's stock, valued at approximately $9,447,609.60. The trade was a 10.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.96% of the company's stock.

Extra Space Storage Price Performance

EXR stock opened at $133.94 on Monday. The stock's 50 day moving average is $140.78 and its two-hundred day moving average is $138.54. Extra Space Storage Inc has a 52-week low of $121.03 and a 52-week high of $155.19. The company has a market capitalization of $28.29 billion, a PE ratio of 29.12, a P/E/G ratio of 2.69 and a beta of 1.26. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.92.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its earnings results on Thursday, February 19th. The real estate investment trust reported $2.08 EPS for the quarter, beating the consensus estimate of $2.03 by $0.05. The company had revenue of $857.47 million during the quarter, compared to analysts' expectations of $732.92 million. Extra Space Storage had a return on equity of 6.79% and a net margin of 28.84%.The business's revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.03 EPS. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Analysts predict that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Monday, March 16th. Extra Space Storage's dividend payout ratio (DPR) is currently 140.87%.

Extra Space Storage Company Profile

Extra Space Storage NYSE: EXR is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.

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