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

Versor Investments LP increased its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 85.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new stake in Extra Space Storage during the fourth quarter valued at about $25,000. Ashton Thomas Securities LLC bought a new stake in Extra Space Storage during the third quarter valued at about $33,000. Harvest Fund Management Co. Ltd bought a new stake in Extra Space Storage during the third quarter valued at about $42,000. Quent Capital LLC boosted its position in Extra Space Storage by 89.0% during 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. Finally, Asset Planning Inc bought a new stake in Extra Space Storage during the fourth quarter valued at about $52,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Trading Down 0.3 %

Extra Space Storage stock opened at $153.50 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. The company has a market capitalization of $32.54 billion, a price-to-earnings ratio of 40.18, a price-to-earnings-growth ratio of 7.76 and a beta of 0.91. The stock has a 50-day moving average price of $152.16 and a 200 day moving average price of $163.55.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.93. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. Sell-side analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is 160.40%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on EXR shares. Truist Financial raised their price objective on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. 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 report on Friday, January 10th. Wells Fargo & Company dropped their price objective on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada lowered their price target on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $171.55.

Insider Buying and Selling

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 16,690 shares in the company, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.36% of the company’s stock.

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.