Versor Investments LP Has $474,000 Position in Extra Space Storage Inc $EXR

Key Points

• Versor Investments LP significantly reduced its holding in Extra Space Storage by 61.8%, selling 5,154 shares and leaving them with 3,189 shares valued at $474,000.
• Analysts have mixed ratings on Extra Space Storage, with a consensus rating of "Hold" and a target price averaging $154.46, reflecting recent downgrades and upgrades from various financial institutions.
• CEO Joseph D. Margolis sold 7,500 shares at around $150.35 per share, resulting in a significant decrease in his ownership stake by 21.58%.

Versor Investments LP trimmed its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 61.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,189 shares of the real estate investment trust's stock after selling 5,154 shares during the period. Versor Investments LP's holdings in Extra Space Storage were worth $474,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Aptus Capital Advisors LLC grew its position in shares of Extra Space Storage by 4.3% in the fourth quarter. Aptus Capital Advisors LLC now owns 1,638 shares of the real estate investment trust's stock valued at $245,000 after purchasing an additional 68 shares during the last quarter. Siemens Fonds Invest GmbH boosted its stake in shares of Extra Space Storage by 3.0% in the fourth quarter. Siemens Fonds Invest GmbH now owns 2,320 shares of the real estate investment trust's stock valued at $342,000 after buying an additional 68 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of Extra Space Storage by 8.5% in the first quarter. Exchange Traded Concepts LLC now owns 934 shares of the real estate investment trust's stock valued at $139,000 after buying an additional 73 shares during the period. Naviter Wealth LLC boosted its stake in shares of Extra Space Storage by 0.6% in the first quarter. Naviter Wealth LLC now owns 13,645 shares of the real estate investment trust's stock valued at $2,007,000 after buying an additional 82 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in shares of Extra Space Storage by 0.5% in the fourth quarter. Mackenzie Financial Corp now owns 18,363 shares of the real estate investment trust's stock valued at $2,747,000 after buying an additional 90 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on EXR shares. Benchmark cut their price target on Extra Space Storage from $61.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Barclays cut their price target on Extra Space Storage from $178.00 to $169.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Mizuho boosted their price target on Extra Space Storage from $141.00 to $153.00 and gave the company an "outperform" rating in a research note on Wednesday, May 28th. BNP Paribas Exane initiated coverage on Extra Space Storage in a research note on Tuesday, June 24th. They issued a "neutral" rating and a $156.00 price target for the company. Finally, BNP Paribas raised Extra Space Storage to a "hold" rating in a report on Tuesday, June 24th. Six analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $153.60.

Insiders Place Their Bets

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction 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 completion of the sale, the chief executive officer directly owned 27,260 shares in the company, valued at $4,098,541. This represents a 21.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.36% of the stock is owned by insiders.

Extra Space Storage Price Performance

Extra Space Storage stock traded down $2.0580 during midday trading on Monday, reaching $140.6920. The company's stock had a trading volume of 252,319 shares, compared to its average volume of 1,188,899. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $184.87. The stock has a market cap of $29.86 billion, a PE ratio of 30.51, a price-to-earnings-growth ratio of 3.46 and a beta of 1.07. 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 business has a 50-day moving average price of $145.21 and a 200-day moving average price of $146.72.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 EPS for the quarter, missing analysts' consensus estimates of $2.06 by ($0.01). The firm had revenue of $841.62 million during the quarter, compared to the consensus estimate 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 was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.06 earnings per share. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. On average, sell-side analysts predict that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Monday, September 15th. Extra Space Storage's dividend payout ratio is presently 140.56%.

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.