Schonfeld Strategic Advisors LLC Sells 169,907 Shares of Extra Space Storage Inc. (NYSE:EXR)

Schonfeld Strategic Advisors LLC cut its holdings in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 95.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,475 shares of the real estate investment trust's stock after selling 169,907 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Extra Space Storage were worth $1,268,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. World Investment Advisors LLC bought a new position in shares of Extra Space Storage in the third quarter worth about $216,000. Nordea Investment Management AB raised its position in Extra Space Storage by 7.0% in the 4th quarter. Nordea Investment Management AB now owns 16,577 shares of the real estate investment trust's stock worth $2,465,000 after purchasing an additional 1,085 shares during the last quarter. First Hawaiian Bank raised its position in Extra Space Storage by 25.1% in the 4th quarter. First Hawaiian Bank now owns 2,022 shares of the real estate investment trust's stock worth $302,000 after purchasing an additional 406 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Extra Space Storage by 10.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 6,227 shares of the real estate investment trust's stock worth $932,000 after buying an additional 596 shares in the last quarter. Finally, Czech National Bank boosted its position in Extra Space Storage by 6.5% in the 4th quarter. Czech National Bank now owns 45,963 shares of the real estate investment trust's stock valued at $6,876,000 after buying an additional 2,791 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Evercore ISI upped their target price on shares of Extra Space Storage from $144.00 to $149.00 and gave the company an "in-line" rating in a research report on Thursday, May 1st. Scotiabank upgraded shares of Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and lowered their price target for the stock from $165.00 to $149.00 in a research report on Wednesday, April 9th. Royal Bank of Canada cut their price objective on shares of Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating on the stock in a report on Thursday, May 1st. Finally, Wells Fargo & Company dropped 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 report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $165.42.

Extra Space Storage Trading Up 0.0 %

Shares of NYSE:EXR opened at $147.24 on Thursday. The firm has a market cap of $31.25 billion, a price-to-earnings ratio of 38.54, a PEG 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. The company's fifty day simple moving average is $144.03 and its 200 day simple moving average is $152.98. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.04. The company had revenue of $820.00 million for the quarter, compared to analyst estimates of $705.12 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company's quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.96 earnings per share. As a group, research analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.40%. Extra Space Storage's dividend payout ratio is currently 150.35%.

Insider Activity

In related news, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the sale, the executive vice president now owns 20,158 shares of the company's stock, valued at approximately $3,077,320.28. The trade was a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were 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 directly owns 9,190 shares of the company's stock, valued at $1,355,065.50. This trade represents a 44.94 % 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 over the last ninety days. Insiders own 1.36% of the company's stock.

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.

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