Jefferies Financial Group Inc. Sells 2,347 Shares of Extra Space Storage Inc. (NYSE:EXR)

Jefferies Financial Group Inc. decreased its holdings in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 26.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,653 shares of the real estate investment trust's stock after selling 2,347 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Extra Space Storage were worth $995,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EXR. Norges Bank bought a new stake in shares of Extra Space Storage in the fourth quarter valued at approximately $938,647,000. Northern Trust Corp raised its stake in Extra Space Storage by 48.7% during the 4th quarter. Northern Trust Corp now owns 2,875,049 shares of the real estate investment trust's stock valued at $430,107,000 after purchasing an additional 941,212 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in Extra Space Storage in the 4th quarter valued at $107,453,000. Manning & Napier Advisors LLC grew its position in Extra Space Storage by 1,127.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust's stock worth $116,985,000 after purchasing an additional 718,266 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC increased its holdings in shares of Extra Space Storage by 91.2% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,089,753 shares of the real estate investment trust's stock worth $163,027,000 after purchasing an additional 519,934 shares during the period. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Price Performance

Shares of NYSE EXR traded up $0.84 during mid-day trading on Monday, hitting $152.60. 699,157 shares of the stock were exchanged, compared to its average volume of 1,055,200. Extra Space Storage Inc. has a twelve month low of $121.03 and a twelve month high of $184.87. The stock's fifty day simple moving average is $143.10 and its two-hundred day simple moving average is $151.92. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The company has a market cap of $32.38 billion, a P/E ratio of 39.95, a PEG ratio of 7.76 and a beta of 1.14.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, beating analysts' consensus estimates of $1.96 by $0.04. The firm had revenue of $820.00 million during the quarter, compared to analysts' expectations of $705.12 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business's revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm posted $1.96 EPS. As a group, 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 disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date was Friday, March 14th. Extra Space Storage's dividend payout ratio is currently 150.35%.

Insiders Place Their Bets

In other news, Director Joseph J. Bonner sold 672 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total transaction of $100,195.20. Following the sale, the director now directly owns 4,557 shares of the company's stock, valued at $679,448.70. This represents a 12.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP William N. Springer sold 1,220 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the completion of the transaction, the executive vice president now owns 20,158 shares of the company's stock, valued at $3,077,320.28. This trade represents a 5.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,392 shares of company stock valued at $1,392,315 in the last 90 days. 0.96% of the stock is currently owned by insiders.

Analysts Set New Price Targets

EXR has been the subject of several research reports. Wells Fargo & Company reduced their target price on shares of Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating for the company in a research note on Friday, February 21st. Mizuho initiated coverage on Extra Space Storage in a report on Wednesday, April 9th. They set an "outperform" rating and a $141.00 price objective on the stock. Scotiabank boosted their price objective on Extra Space Storage from $149.00 to $166.00 and gave the company a "sector outperform" rating in a research report on Monday, May 12th. Benchmark reduced their target price on Extra Space Storage from $61.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Finally, StockNews.com upgraded shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Wednesday, April 30th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Extra Space Storage has an average rating of "Moderate Buy" and an average price target of $158.46.

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.