Versor Investments LP Increases Stake in Extra Space Storage Inc. (NYSE:EXR)

Versor Investments LP boosted its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 85.4% in the 4th quarter, Holdings Channel reports. The fund owned 8,343 shares of the real estate investment trust’s stock after buying an additional 3,844 shares during the period. Versor Investments LP’s holdings in Extra Space Storage were worth $1,248,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Graypoint LLC boosted its stake in Extra Space Storage by 4.3% during the third quarter. Graypoint LLC now owns 1,575 shares of the real estate investment trust’s stock worth $284,000 after buying an additional 65 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Extra Space Storage by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,160 shares of the real estate investment trust’s stock worth $2,717,000 after buying an additional 66 shares during the last quarter. Wedge Capital Management L L P NC boosted its stake in Extra Space Storage by 1.3% during the fourth quarter. Wedge Capital Management L L P NC now owns 5,138 shares of the real estate investment trust’s stock worth $769,000 after buying an additional 68 shares during the last quarter. Checchi Capital Advisers LLC boosted its stake in Extra Space Storage by 2.2% during the fourth quarter. Checchi Capital Advisers LLC now owns 3,449 shares of the real estate investment trust’s stock worth $516,000 after buying an additional 75 shares during the last quarter. Finally, Aptus Capital Advisors LLC boosted its stake in Extra Space Storage by 5.5% during the third quarter. Aptus Capital Advisors LLC now owns 1,570 shares of the real estate investment trust’s stock worth $283,000 after buying an additional 82 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Extra Space Storage Price Performance

EXR stock opened at $153.50 on Friday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $32.54 billion, a PE ratio of 40.18, a P/E/G ratio of 7.76 and a beta of 0.91. Extra Space Storage Inc. has a 12-month low of $131.02 and a 12-month high of $184.87. The business’s fifty day moving average price is $152.16 and its 200 day moving average price is $163.55.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.93. The firm had revenue of $821.90 million for the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. On average, 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 declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.22%. Extra Space Storage’s dividend payout ratio (DPR) is 160.40%.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the sale, the chief executive officer now owns 16,690 shares in the company, valued at $2,470,286.90. This represents a 31.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.36% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on EXR shares. Scotiabank raised Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective on the stock in a research note on Friday, January 10th. Truist Financial upped their price target on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Barclays decreased their price target on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company decreased their price target on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Extra Space Storage has an average rating of “Hold” and an average target price of $171.55.

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.