Blueshift Asset Management LLC Invests $563,000 in Extra Space Storage Inc. (NYSE:EXR)

Blueshift Asset Management LLC purchased a new position in shares of Extra Space Storage Inc. (NYSE:EXR) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,763 shares of the real estate investment trust’s stock, valued at approximately $563,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Extra Space Storage by 36.7% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 113,117 shares of the real estate investment trust’s stock worth $16,922,000 after buying an additional 30,393 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Extra Space Storage by 84.2% during the fourth quarter. Teacher Retirement System of Texas now owns 57,197 shares of the real estate investment trust’s stock worth $8,557,000 after buying an additional 26,142 shares in the last quarter. Royal London Asset Management Ltd. grew its holdings in shares of Extra Space Storage by 0.8% during the fourth quarter. Royal London Asset Management Ltd. now owns 86,727 shares of the real estate investment trust’s stock worth $12,974,000 after buying an additional 649 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Extra Space Storage by 35.3% in the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 68,183 shares of the real estate investment trust’s stock worth $10,200,000 after acquiring an additional 17,781 shares during the last quarter. Finally, Xponance Inc. boosted its position in shares of Extra Space Storage by 1.9% in the fourth quarter. Xponance Inc. now owns 30,103 shares of the real estate investment trust’s stock worth $4,503,000 after acquiring an additional 559 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP William N. Springer sold 1,220 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $152.66, for a total transaction of $186,245.20. Following the transaction, the executive vice president now owns 20,158 shares of the company’s stock, valued at approximately $3,077,320.28. This trade represents a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the transaction, the chief executive officer now owns 16,690 shares in the company, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,392 shares of company stock worth $1,396,515. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Down 0.8 %

Shares of NYSE:EXR opened at $145.67 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 fifty day simple moving average of $152.82 and a 200 day simple moving average of $161.38. The firm has a market cap of $30.88 billion, a PE ratio of 38.13, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. Extra Space Storage Inc. has a 12-month low of $131.02 and a 12-month high of $184.87.

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

Extra Space Storage Announces Dividend

The firm 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 $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s payout ratio is 160.40%.

Analyst Ratings Changes

Several research firms recently issued reports on EXR. Scotiabank decreased their target price on shares of Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 5th. Royal Bank of Canada decreased their target price on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Truist Financial raised their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Finally, Barclays decreased their target price on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Extra Space Storage currently has an average rating of “Hold” and an average target price of $171.09.

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.