Hazelview Securities Inc. Sells 44,930 Shares of Extra Space Storage Inc. (NYSE:EXR)

Hazelview Securities Inc. trimmed its stake in Extra Space Storage Inc. (NYSE:EXR) by 17.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 207,239 shares of the real estate investment trust’s stock after selling 44,930 shares during the quarter. Extra Space Storage makes up 5.7% of Hazelview Securities Inc.’s holdings, making the stock its 4th largest holding. Hazelview Securities Inc. owned about 0.10% of Extra Space Storage worth $30,410,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of EXR. EdgeRock Capital LLC acquired a new position in shares of Extra Space Storage in the 4th quarter worth $26,000. Creekmur Asset Management LLC acquired a new stake in shares of Extra Space Storage in the fourth quarter worth $26,000. Anchor Investment Management LLC acquired a new stake in shares of Extra Space Storage in the fourth quarter worth $35,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Extra Space Storage in the fourth quarter worth $41,000. Finally, Parkside Financial Bank & Trust boosted its position in shares of Extra Space Storage by 153.8% in the third quarter. Parkside Financial Bank & Trust now owns 396 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 240 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Extra Space Storage

In related news, Director Joseph J. Bonner sold 677 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $148.22, for a total transaction of $100,344.94. Following the transaction, the director now directly owns 5,229 shares in the company, valued at $775,042.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock traded down $0.43 during trading on Wednesday, reaching $156.77. The company’s stock had a trading volume of 607,177 shares, compared to its average volume of 1,109,151. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.15. The business’s fifty day moving average price is $145.77 and its 200-day moving average price is $146.58. The firm has a market cap of $33.19 billion, a price-to-earnings ratio of 34.96, a price-to-earnings-growth ratio of 3.77 and a beta of 0.81. Extra Space Storage Inc. has a one year low of $101.19 and a one year high of $164.99.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $1.62 per share. The ex-dividend date is Friday, June 14th. This represents a $6.48 annualized dividend and a yield of 4.13%. Extra Space Storage’s dividend payout ratio is 144.32%.

Analyst Ratings Changes

Several brokerages have recently commented on EXR. Barclays raised their target price on Extra Space Storage from $157.00 to $158.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Wells Fargo & Company boosted their price target on Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. Citigroup reduced their price target on Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, June 7th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $160.00 price target on shares of Extra Space Storage in a research report on Thursday, March 28th. 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 MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $151.83.

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.