Tower Research Capital LLC TRC Trims Holdings in Extra Space Storage Inc. (NYSE:EXR)

Tower Research Capital LLC TRC lowered its stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 53.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,280 shares of the real estate investment trust's stock after selling 8,280 shares during the period. Tower Research Capital LLC TRC's holdings in Extra Space Storage were worth $1,089,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EXR. Golden State Wealth Management LLC bought a new position in Extra Space Storage in the 4th quarter worth approximately $25,000. Harbour Investments Inc. grew its holdings 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 purchasing an additional 80 shares during the period. Quent Capital LLC grew its position in shares of Extra Space Storage by 89.0% in the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust's stock valued at $49,000 after purchasing an additional 154 shares during the last quarter. Asset Planning Inc bought a new position in shares of Extra Space Storage during the fourth quarter worth approximately $52,000. Finally, Kestra Investment Management LLC acquired a new position in Extra Space Storage in the 4th quarter valued at $54,000. Institutional investors and hedge funds own 99.11% of the company's stock.

Analysts Set New Price Targets

EXR has been the topic of a number of recent research reports. The Goldman Sachs Group restated a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Barclays lowered their target price 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. Scotiabank upgraded Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and reduced their price target for the stock from $165.00 to $149.00 in a report on Wednesday, April 9th. Mizuho started coverage on shares of Extra Space Storage in a research note on Wednesday, April 9th. They set an "outperform" rating and a $141.00 price target for the company. Finally, StockNews.com downgraded Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Friday, March 7th. Two analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $167.25.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total transaction 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 trade represents a 44.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 in the company, 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 9,392 shares of company stock worth $1,392,315 over the last three months. Insiders own 1.36% of the company's stock.

Extra Space Storage Trading Up 3.6 %

NYSE EXR traded up $5.16 during trading hours on Wednesday, reaching $146.59. The company had a trading volume of 276,864 shares, compared to its average volume of 1,058,593. The stock has a market capitalization of $31.11 billion, a P/E ratio of 38.32, a price-to-earnings-growth ratio of 7.76 and a beta of 0.96. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 1-year low of $121.03 and a 1-year high of $184.87. The stock has a 50-day moving average of $144.98 and a 200 day moving average of $153.81.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its earnings results 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. The company had revenue of $820.00 million during the quarter, compared to the consensus estimate of $705.12 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Extra Space Storage's 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 EPS. As a group, research analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share 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. Investors of record on Friday, March 14th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage's dividend payout ratio (DPR) is 160.40%.

About Extra Space Storage

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.