Choreo LLC Cuts Stake in Extra Space Storage Inc. (NYSE:EXR)

Choreo LLC cut its position in Extra Space Storage Inc. (NYSE:EXR) by 36.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,277 shares of the real estate investment trust’s stock after selling 1,880 shares during the period. Choreo LLC’s holdings in Extra Space Storage were worth $488,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EXR. Ashton Thomas Securities LLC purchased a new position in Extra Space Storage in the 3rd quarter worth approximately $33,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Extra Space Storage in the 3rd quarter worth $42,000. Continuum Advisory LLC raised its stake in shares of Extra Space Storage by 68.1% in the third quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 126 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new position in shares of Extra Space Storage during the third quarter valued at $129,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Extra Space Storage during the third quarter valued at $136,000. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Performance

Shares of EXR opened at $157.45 on Wednesday. The business has a 50-day simple moving average of $152.80 and a two-hundred day simple moving average of $164.17. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. The stock has a market cap of $33.38 billion, a price-to-earnings ratio of 41.22, a PEG ratio of 7.77 and a beta of 0.91.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.12%. The ex-dividend date was Monday, December 16th. Extra Space Storage’s dividend payout ratio is 169.63%.

Insiders Place Their Bets

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Diane Olmstead sold 3,081 shares of Extra Space Storage stock in a transaction on Friday, November 15th. The shares were sold at an average price of $164.56, for a total transaction of $507,009.36. Following the transaction, the director now owns 5,877 shares in the company, valued at approximately $967,119.12. This trade represents a 34.39 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EXR. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. Barclays decreased their price objective on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $175.00 target price on shares of Extra Space Storage in a research report on Monday, October 21st. Truist Financial increased their price target on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Finally, Scotiabank raised Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective for the company in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $174.00.

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.