Quadrature Capital Ltd Sells 10,927 Shares of Extra Space Storage Inc. (NYSE:EXR)

Quadrature Capital Ltd decreased its holdings in shares of Extra Space Storage Inc. (NYSE:EXR – Get Rating) by 88.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,395 shares of the real estate investment trust’s stock after selling 10,927 shares during the quarter. Quadrature Capital Ltd’s holdings in Extra Space Storage were worth $241,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. EdgeRock Capital LLC bought a new stake in Extra Space Storage during the 3rd quarter valued at approximately $27,000. Veriti Management LLC bought a new stake in Extra Space Storage during the 3rd quarter valued at approximately $209,000. Vanguard Personalized Indexing Management LLC boosted its stake in Extra Space Storage by 16.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,124 shares of the real estate investment trust’s stock valued at $872,000 after purchasing an additional 725 shares during the period. Point72 Hong Kong Ltd boosted its stake in Extra Space Storage by 119.8% during the 2nd quarter. Point72 Hong Kong Ltd now owns 23,843 shares of the real estate investment trust’s stock valued at $4,056,000 after purchasing an additional 12,997 shares during the period. Finally, Mutual of America Capital Management LLC lifted its position in shares of Extra Space Storage by 1.1% in the 2nd quarter. Mutual of America Capital Management LLC now owns 22,567 shares of the real estate investment trust’s stock worth $3,839,000 after acquiring an additional 256 shares during the period. Institutional investors own 95.32% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on EXR. Wolfe Research downgraded Extra Space Storage from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 18th. They noted that the move was a valuation call. Truist Financial raised their price objective on Extra Space Storage from $160.00 to $165.00 and gave the stock a “hold” rating in a research report on Wednesday, March 8th. Evercore ISI downgraded Extra Space Storage from an “in-line” rating to an “underperform” rating and reduced their price objective for the stock from $162.00 to $150.00 in a research report on Monday, November 21st. JPMorgan Chase & Co. downgraded Extra Space Storage from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $177.00 to $167.00 in a research report on Friday, December 16th. Finally, Citigroup reduced their price objective on Extra Space Storage from $175.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, December 12th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Extra Space Storage currently has a consensus rating of “Hold” and a consensus target price of $170.89.

Insider Activity at Extra Space Storage

In related news, CMO Samrat Sondhi sold 6,290 shares of the firm’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $161.88, for a total transaction of $1,018,225.20. Following the completion of the sale, the chief marketing officer now directly owns 82,653 shares of the company’s stock, valued at approximately $13,379,867.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Gwyn Goodson Mcneal sold 1,500 shares of Extra Space Storage stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $164.00, for a total value of $246,000.00. Following the completion of the sale, the executive vice president now directly owns 32,290 shares of the company’s stock, valued at approximately $5,295,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Samrat Sondhi sold 6,290 shares of Extra Space Storage stock in a transaction on Monday, February 27th. The shares were sold at an average price of $161.88, for a total value of $1,018,225.20. Following the completion of the sale, the chief marketing officer now directly owns 82,653 shares of the company’s stock, valued at $13,379,867.64. The disclosure for this sale can be found here. Insiders sold 8,440 shares of company stock valued at $1,371,963 in the last three months. Corporate insiders own 1.52% of the company’s stock.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $157.59 on Tuesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market capitalization of $21.27 billion, a PE ratio of 24.59, a price-to-earnings-growth ratio of 2.24 and a beta of 0.54. Extra Space Storage Inc. has a one year low of $139.97 and a one year high of $222.35. The business has a 50 day simple moving average of $157.33 and a 200 day simple moving average of $164.11.

Extra Space Storage (NYSE:EXR – Get Rating) last released its quarterly earnings results on Wednesday, February 22nd. The real estate investment trust reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.56). Extra Space Storage had a net margin of 45.52% and a return on equity of 22.01%. The business had revenue of $506.70 million for the quarter, compared to analyst estimates of $433.39 million. During the same period in the prior year, the business earned $1.91 earnings per share. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. On average, sell-side analysts forecast that Extra Space Storage Inc. will post 8.56 EPS for the current fiscal year.

Extra Space Storage Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.11%. This is a boost from Extra Space Storage’s previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is currently 93.60%.

About Extra Space Storage

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Extra Space Storage, Inc is a real estate investment trust. It operates through the following segments: Self-Storage Operations and Tenant Reinsurance. The Self-Storage Operations segment includes rental operations of wholly-owned stores. The Tenant Reinsurance segment includes reinsurance of risks relating to the loss of goods stored by tenants in stores.