Values First Advisors Inc. Has $584,000 Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Values First Advisors Inc. reduced its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 24.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,640 shares of the real estate investment trust’s stock after selling 1,157 shares during the quarter. Values First Advisors Inc.’s holdings in Extra Space Storage were worth $584,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. WASHINGTON TRUST Co grew its holdings in shares of Extra Space Storage by 23.7% during the fourth quarter. WASHINGTON TRUST Co now owns 5,225 shares of the real estate investment trust’s stock valued at $838,000 after buying an additional 1,000 shares during the last quarter. Vert Asset Management LLC boosted its holdings in Extra Space Storage by 15.7% during the fourth quarter. Vert Asset Management LLC now owns 85,522 shares of the real estate investment trust’s stock worth $13,712,000 after purchasing an additional 11,612 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Extra Space Storage by 15.2% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 20,721 shares of the real estate investment trust’s stock worth $3,322,000 after purchasing an additional 2,730 shares during the last quarter. CVA Family Office LLC purchased a new position in Extra Space Storage during the fourth quarter worth about $148,000. Finally, LVW Advisors LLC purchased a new position in Extra Space Storage during the fourth quarter worth about $274,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Stock Performance

Shares of NYSE EXR traded up $0.18 during midday trading on Thursday, hitting $146.93. The company’s stock had a trading volume of 1,214,485 shares, compared to its average volume of 1,204,188. The stock has a fifty day moving average price of $143.49 and a 200 day moving average price of $135.48. The firm has a market capitalization of $31.09 billion, a price-to-earnings ratio of 29.74, a P/E/G ratio of 3.45 and a beta of 0.74. Extra Space Storage Inc. has a one year low of $101.19 and a one year high of $165.85. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.71.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.01). The firm had revenue of $797.77 million for the quarter, compared to analysts’ expectations of $778.05 million. Extra Space Storage had a net margin of 31.81% and a return on equity of 8.34%. Extra Space Storage’s revenue was up 57.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.09 EPS. On average, research analysts forecast that Extra Space Storage Inc. will post 8.04 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be paid a $1.62 dividend. The ex-dividend date is Thursday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.41%. Extra Space Storage’s dividend payout ratio (DPR) is 131.17%.

Insider Activity

In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the sale, the executive vice president now directly owns 37,028 shares in the company, valued at approximately $5,369,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of Extra Space Storage stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the transaction, 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 SEC, which is available at this hyperlink. Also, CMO Samrat Sondhi sold 2,048 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the sale, the chief marketing officer now 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 90 days, insiders sold 3,532 shares of company stock valued at $514,819. Corporate insiders own 1.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on EXR shares. Morgan Stanley upgraded shares of Extra Space Storage from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $115.00 to $150.00 in a report on Thursday, December 21st. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. TheStreet raised shares of Extra Space Storage from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Barclays assumed coverage on shares of Extra Space Storage in a research report on Wednesday. They issued an “overweight” rating and a $157.00 price objective on the stock. Finally, Scotiabank assumed coverage on shares of Extra Space Storage in a research report on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $151.08.

Extra Space Storage 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.