Schonfeld Strategic Advisors LLC Has $1.27 Million Stake in Extra Space Storage Inc. (NYSE:EXR)

Schonfeld Strategic Advisors LLC reduced its position 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 Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. World Investment Advisors LLC acquired a new stake in Extra Space Storage in the third quarter valued at $216,000. Nordea Investment Management AB raised its holdings in Extra Space Storage by 7.0% in the fourth quarter. Nordea Investment Management AB now owns 16,577 shares of the real estate investment trust's stock valued at $2,465,000 after acquiring an additional 1,085 shares in the last quarter. First Hawaiian Bank raised its holdings in Extra Space Storage by 25.1% in the fourth quarter. First Hawaiian Bank now owns 2,022 shares of the real estate investment trust's stock valued at $302,000 after acquiring an additional 406 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Extra Space Storage by 10.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 6,227 shares of the real estate investment trust's stock valued at $932,000 after acquiring an additional 596 shares in the last quarter. Finally, Czech National Bank raised its holdings in Extra Space Storage by 6.5% in the fourth quarter. Czech National Bank now owns 45,963 shares of the real estate investment trust's stock valued at $6,876,000 after acquiring an additional 2,791 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the completion of the transaction, the chief executive officer now owns 9,190 shares in the company, valued at approximately $1,355,065.50. This trade represents a 44.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP William N. Springer sold 1,220 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $152.66, for a total transaction of $186,245.20. Following the transaction, the executive vice president now owns 20,158 shares of the company's stock, valued at approximately $3,077,320.28. This trade represents a 5.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,392 shares of company stock valued at $1,392,315. Company insiders own 0.96% of the company's stock.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock traded down $1.60 during trading on Tuesday, hitting $147.29. 224,491 shares of the stock were exchanged, compared to its average volume of 1,050,421. The stock's fifty day moving average is $143.63 and its 200 day moving average is $152.39. The stock has a market cap of $31.26 billion, a PE ratio of 38.56, a P/E/G ratio of 7.76 and a beta of 1.14. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. 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 released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, topping the consensus estimate of $1.96 by $0.04. The business had revenue of $820.00 million during the quarter, compared to analyst estimates of $705.12 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.96 earnings per share. As a group, sell-side analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders 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 yield of 4.40%. Extra Space Storage's payout ratio is 150.35%.

Analyst Ratings Changes

Several research firms recently issued reports on EXR. Evercore ISI upped their price target on shares of Extra Space Storage from $144.00 to $149.00 and gave the company an "in-line" rating in a report on Thursday, May 1st. Scotiabank upped their price target on shares of Extra Space Storage from $149.00 to $166.00 and gave the company a "sector outperform" rating in a report on Monday. Royal Bank of Canada cut their price target 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. Mizuho initiated coverage on shares of Extra Space Storage in a research note on Wednesday, April 9th. They set an "outperform" rating and a $141.00 target price for the company. Finally, Barclays lowered their target price on shares of Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $166.83.

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.