Tidal Investments LLC Has $1.51 Million Holdings in Extra Space Storage Inc. (NYSE:EXR)

Tidal Investments LLC trimmed its position in Extra Space Storage Inc. (NYSE:EXR) by 20.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,115 shares of the real estate investment trust’s stock after selling 2,525 shares during the quarter. Tidal Investments LLC’s holdings in Extra Space Storage were worth $1,513,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in shares of Extra Space Storage in the 4th quarter valued at approximately $25,000. Harbour Investments Inc. raised its stake in Extra Space Storage by 90.9% during the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 80 shares during the period. Quent Capital LLC lifted its holdings 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 in the last quarter. Asset Planning Inc acquired a new stake in shares of Extra Space Storage in the fourth quarter worth $52,000. Finally, Quarry LP grew its holdings in shares of Extra Space Storage by 156.1% during the fourth quarter. Quarry LP now owns 356 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 217 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, EVP William N. Springer sold 1,220 shares of the company’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 completion of the sale, the executive vice president now directly owns 20,158 shares in the company, valued at $3,077,320.28. This represents a 5.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage 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 completion of the transaction, the chief executive officer now owns 9,190 shares in the company, valued at $1,355,065.50. The trade was a 44.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,392 shares of company stock worth $1,392,315 over the last 90 days. Insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EXR. Mizuho began coverage on Extra Space Storage in a research note on Wednesday, April 9th. They issued an “outperform” rating and a $141.00 price objective for the company. Bank of America increased their price target on shares of Extra Space Storage from $155.00 to $161.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 13th. Benchmark lowered their price objective on shares of Extra Space Storage from $61.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Scotiabank upped their price objective on shares of Extra Space Storage from $149.00 to $166.00 and gave the company a “sector outperform” rating in a research note on Monday, May 12th. Finally, Barclays decreased their target price on shares of Extra Space Storage from $181.00 to $178.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $158.46.

Extra Space Storage Stock Up 0.8%

EXR stock opened at $145.91 on Friday. The firm has a market cap of $30.96 billion, a PE ratio of 38.20, a PEG ratio of 7.76 and a beta of 1.14. Extra Space Storage Inc. has a 1 year low of $121.03 and a 1 year high of $184.87. The company has a fifty day simple moving average of $143.25 and a 200 day simple moving average of $151.53. 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 (NYSE:EXR) last posted 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 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 business’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company earned $1.96 earnings per share. Sell-side analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $1.62 per share. The ex-dividend date is Monday, June 16th. This represents a $6.48 dividend on an annualized basis and a yield of 4.44%. Extra Space Storage’s payout ratio is currently 150.35%.

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.