Point72 Asia Singapore Pte. Ltd. Buys New Shares in Extra Space Storage Inc. (NYSE:EXR)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,694 shares of the real estate investment trust's stock, valued at approximately $403,000.

A number of other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in Extra Space Storage in the fourth quarter worth about $25,000. Harbour Investments Inc. raised its stake in Extra Space Storage by 90.9% during the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 80 shares in the last quarter. Quent Capital LLC lifted its holdings in shares of Extra Space Storage by 89.0% during the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 154 shares during the period. Asset Planning Inc acquired a new stake in shares of Extra Space Storage in the 4th quarter valued at $52,000. Finally, Quarry LP grew its holdings in shares of Extra Space Storage by 156.1% in the 4th quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock worth $53,000 after purchasing an additional 217 shares during the last quarter. Institutional investors own 99.11% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on EXR shares. Scotiabank increased their target price on shares of Extra Space Storage from $149.00 to $166.00 and gave the stock a "sector outperform" rating in a research report on Monday. Mizuho assumed coverage on shares of Extra Space Storage in a report on Wednesday, April 9th. They set an "outperform" rating and a $141.00 price objective for the company. Benchmark reduced their target price on Extra Space Storage from $61.00 to $55.00 and set a "buy" rating on the stock in a report on Tuesday. Barclays dropped their price target on Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating for the company in a report on Wednesday, March 12th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $158.69.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total value of $1,105,875.00. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph J. Bonner sold 672 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $149.10, for a total value of $100,195.20. Following the transaction, the director now owns 4,557 shares of the company's stock, valued at $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. Insiders have sold 9,392 shares of company stock worth $1,392,315 in the last three months. Insiders own 0.96% of the company's stock.

Extra Space Storage Trading Up 1.8%

Shares of EXR opened at $148.48 on Friday. The stock's fifty day simple moving average is $143.11 and its 200-day simple moving average is $152.18. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $31.51 billion, a PE ratio of 38.87, a price-to-earnings-growth ratio of 7.76 and a beta of 1.14. 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 announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.04. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $820.00 million for the quarter, compared to analyst estimates of $705.12 million. During the same period in the prior year, the business posted $1.96 earnings per share. Extra Space Storage's revenue was up 2.6% compared to the same quarter last year. As a group, research analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date was Friday, March 14th. Extra Space Storage's dividend payout ratio (DPR) is currently 150.35%.

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.

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