Proficio Capital Partners LLC Takes $25.09 Million Position in Extra Space Storage Inc. (NYSE:EXR)

Proficio Capital Partners LLC bought a new stake in shares of Extra Space Storage Inc. (NYSE:EXR) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 167,714 shares of the real estate investment trust’s stock, valued at approximately $25,090,000. Proficio Capital Partners LLC owned 0.08% of Extra Space Storage as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in EXR. Assenagon Asset Management S.A. increased its stake in shares of Extra Space Storage by 34.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,985 shares of the real estate investment trust’s stock valued at $718,000 after buying an additional 1,028 shares during the period. First Trust Direct Indexing L.P. grew its stake in Extra Space Storage by 20.4% in the third quarter. First Trust Direct Indexing L.P. now owns 6,142 shares of the real estate investment trust’s stock worth $1,107,000 after purchasing an additional 1,040 shares during the period. HM Payson & Co. grew its stake in Extra Space Storage by 948.0% in the third quarter. HM Payson & Co. now owns 1,572 shares of the real estate investment trust’s stock worth $283,000 after purchasing an additional 1,422 shares during the period. US Bancorp DE grew its stake in Extra Space Storage by 2.0% in the third quarter. US Bancorp DE now owns 27,929 shares of the real estate investment trust’s stock worth $5,033,000 after purchasing an additional 552 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in Extra Space Storage by 39.6% in the third quarter. Farther Finance Advisors LLC now owns 1,277 shares of the real estate investment trust’s stock worth $230,000 after purchasing an additional 362 shares during the period. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at $2,470,286.90. This represents a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Trading Down 0.7 %

Extra Space Storage stock opened at $152.36 on Friday. The company has a market capitalization of $32.30 billion, a price-to-earnings ratio of 39.88, a price-to-earnings-growth ratio of 7.76 and a beta of 0.91. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 12 month low of $131.02 and a 12 month high of $184.87. The business’s fifty day simple moving average is $152.27 and its two-hundred day simple moving average is $163.47.

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

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 4.25%. The ex-dividend date is Friday, March 14th. Extra Space Storage’s payout ratio is currently 160.40%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on EXR shares. Truist Financial upped their price target on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Royal Bank of Canada reduced their price target on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a research note on Thursday. Barclays reduced their price target on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Finally, Scotiabank raised Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 target price on the stock in a report on Friday, January 10th. One research 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $171.55.

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.