Signaturefd LLC Lowers Stake in Extra Space Storage Inc. (NYSE:EXR)

Signaturefd LLC cut its holdings in Extra Space Storage Inc. (NYSE:EXR) by 20.0% in the fourth quarter, Holdings Channel reports. The fund owned 858 shares of the real estate investment trust’s stock after selling 214 shares during the quarter. Signaturefd LLC’s holdings in Extra Space Storage were worth $138,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Carmel Capital Partners LLC lifted its stake in Extra Space Storage by 8.2% in the fourth quarter. Carmel Capital Partners LLC now owns 3,978 shares of the real estate investment trust’s stock worth $638,000 after acquiring an additional 302 shares during the period. abrdn plc lifted its stake in Extra Space Storage by 141.3% in the fourth quarter. abrdn plc now owns 231,409 shares of the real estate investment trust’s stock worth $37,102,000 after acquiring an additional 135,497 shares during the period. Xponance Inc. lifted its stake in Extra Space Storage by 1.6% in the fourth quarter. Xponance Inc. now owns 27,703 shares of the real estate investment trust’s stock worth $4,442,000 after acquiring an additional 444 shares during the period. Federated Hermes Inc. lifted its stake in Extra Space Storage by 54.0% in the fourth quarter. Federated Hermes Inc. now owns 2,416 shares of the real estate investment trust’s stock worth $387,000 after acquiring an additional 847 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Extra Space Storage by 200.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 300 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 200 shares during the period. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $133.47 on Monday. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $164.99. The company’s 50 day moving average is $141.87 and its 200 day moving average is $138.30. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.71. The company has a market cap of $28.24 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 3.28 and a beta of 0.74.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.01). Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The business had revenue of $797.77 million during the quarter, compared to analyst estimates of $778.05 million. During the same quarter last year, the company posted $2.09 EPS. Extra Space Storage’s quarterly revenue was up 57.4% compared to the same quarter last year. On average, sell-side analysts forecast that Extra Space Storage Inc. will post 8.05 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $1.62 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.86%. Extra Space Storage’s dividend payout ratio (DPR) is presently 131.17%.

Analyst Upgrades and Downgrades

EXR has been the subject of a number of research reports. TheStreet raised shares of Extra Space Storage from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Raymond James reiterated an “outperform” rating and issued a $160.00 target price on shares of Extra Space Storage in a report on Thursday, March 28th. Scotiabank began coverage on shares of Extra Space Storage in a report on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 target price for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Extra Space Storage in a report on Tuesday, January 30th. They issued a “hold” rating and a $141.00 target price for the company. Finally, Wells Fargo & Company boosted their target price on shares of Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Extra Space Storage currently has a consensus rating of “Hold” and a consensus target price of $150.17.

Insider Buying and Selling

In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $146.46, for a total value of $299,950.08. Following the sale, the chief marketing officer now owns 94,126 shares in the company, valued at approximately $13,785,693.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $145.00, for a total value of $195,750.00. Following the completion of the sale, the executive vice president now directly owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Samrat Sondhi sold 2,048 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $146.46, for a total value of $299,950.08. Following the completion of the sale, the chief marketing officer now directly owns 94,126 shares of the company’s stock, valued at $13,785,693.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,532 shares of company stock worth $514,819. 1.36% of the stock is owned by company insiders.

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.