Centiva Capital LP Acquires Shares of 5,228 Extra Space Storage Inc. (NYSE:EXR)

Centiva Capital LP bought a new position in shares of Extra Space Storage Inc. (NYSE:EXR) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,228 shares of the real estate investment trust’s stock, valued at approximately $942,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pathway Financial Advisers LLC lifted its position in Extra Space Storage by 17,832.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust’s stock worth $363,783,000 after acquiring an additional 2,007,626 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Extra Space Storage by 724.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust’s stock worth $357,100,000 after purchasing an additional 1,741,320 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Extra Space Storage by 543.5% during the second quarter. American Century Companies Inc. now owns 397,170 shares of the real estate investment trust’s stock worth $61,724,000 after purchasing an additional 335,447 shares during the period. Canada Pension Plan Investment Board grew its position in Extra Space Storage by 20.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,877,100 shares of the real estate investment trust’s stock valued at $291,720,000 after buying an additional 319,965 shares during the last quarter. Finally, Mizuho Securities USA LLC increased its stake in Extra Space Storage by 1,664.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 288,094 shares of the real estate investment trust’s stock valued at $51,912,000 after buying an additional 271,765 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Activity

In other Extra Space Storage news, Director Diane Olmstead sold 3,081 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $164.56, for a total value of $507,009.36. Following the sale, the director now directly owns 5,877 shares of the company’s stock, valued at approximately $967,119.12. This trade represents a 34.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the transaction, the chief executive officer now directly owns 24,190 shares of the company’s stock, valued at approximately $4,318,398.80. This represents a 23.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,228 shares of company stock valued at $3,023,957 over the last quarter. Company insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EXR. Barclays lifted their target price on shares of Extra Space Storage from $188.00 to $192.00 and gave the company an “overweight” rating in a report on Monday, October 28th. StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. KeyCorp lifted their price target on Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Jefferies Financial Group upgraded Extra Space Storage from a “hold” rating to a “buy” rating and increased their price objective for the stock from $162.00 to $204.00 in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada initiated coverage on shares of Extra Space Storage in a research report on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $171.43.

Extra Space Storage Trading Down 0.2 %

Extra Space Storage stock opened at $163.64 on Friday. The stock has a 50-day moving average price of $168.43 and a 200 day moving average price of $164.72. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. The stock has a market cap of $34.69 billion, a PE ratio of 42.84, a P/E/G ratio of 8.33 and a beta of 0.89. 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 issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). The firm had revenue of $824.80 million for the quarter, compared to analysts’ expectations of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.02 earnings per share. Equities research analysts predict that Extra Space Storage Inc. will post 8.09 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.96%. The ex-dividend date is Monday, December 16th. Extra Space Storage’s dividend payout ratio (DPR) is 169.63%.

Extra Space Storage Company 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.