Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Hedge Funds Are Selling Extra Space Storage, Inc. (NYSE:EXR)

Page 1 of 2

Extra Space Storage, Inc. (NYSE:EXR) was in 12 hedge funds’ portfolio at the end of the first quarter of 2013. EXR investors should pay attention to a decrease in support from the world’s most elite money managers in recent months. There were 14 hedge funds in our database with EXR holdings at the end of the previous quarter.

In the eyes of most market participants, hedge funds are seen as unimportant, old financial vehicles of the past. While there are greater than 8000 funds with their doors open at the moment, we choose to focus on the leaders of this club, close to 450 funds. Most estimates calculate that this group controls the lion’s share of the smart money’s total asset base, and by watching their highest performing picks, we have come up with a number of investment strategies that have historically outperformed the market. Our small-cap hedge fund strategy beat the S&P 500 index by 18 percentage points a year for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have outclassed the S&P 500 index by 23.3 percentage points in 8 months (check out a sample of our picks).

Just as key, positive insider trading sentiment is another way to break down the financial markets. Just as you’d expect, there are plenty of reasons for an executive to get rid of shares of his or her company, but just one, very simple reason why they would buy. Several empirical studies have demonstrated the useful potential of this tactic if “monkeys” understand where to look (learn more here).

Now, we’re going to take a peek at the key action surrounding Extra Space Storage, Inc. (NYSE:EXR).

What does the smart money think about Extra Space Storage, Inc. (NYSE:EXR)?

At Q1’s end, a total of 12 of the hedge funds we track were bullish in this stock, a change of -14% from one quarter earlier. With the smart money’s capital changing hands, there exists a few noteworthy hedge fund managers who were upping their stakes meaningfully.

3 of the Best REITs You Can Own Right NowAccording to our comprehensive database, AEW Capital Management, managed by Jeffrey Furber, holds the most valuable position in Extra Space Storage, Inc. (NYSE:EXR). AEW Capital Management has a $71.7 million position in the stock, comprising 1.8% of its 13F portfolio. The second largest stake is held by Capital Growth Management, managed by Ken Heebner, which held a $49.2 million position; 1.2% of its 13F portfolio is allocated to the stock. Other hedge funds with similar optimism include Jim Simons’s Renaissance Technologies, Ken Fisher’s Fisher Asset Management and D. E. Shaw’s D E Shaw.

Due to the fact that Extra Space Storage, Inc. (NYSE:EXR) has experienced a declination in interest from the entirety of the hedge funds we track, it’s easy to see that there were a few money managers who sold off their entire stakes at the end of the first quarter. It’s worth mentioning that John Overdeck and David Siegel’s Two Sigma Advisors dropped the biggest position of the 450+ funds we key on, valued at about $7.7 million in stock.. Thomas Bailard’s fund, Bailard Inc, also dropped its stock, about $0.4 million worth. These moves are intriguing to say the least, as aggregate hedge fund interest dropped by 2 funds at the end of the first quarter.

Insider trading activity in Extra Space Storage, Inc. (NYSE:EXR)

Insider purchases made by high-level executives is particularly usable when the primary stock in question has experienced transactions within the past 180 days. Over the last 180-day time frame, Extra Space Storage, Inc. (NYSE:EXR) has seen zero unique insiders purchasing, and 2 insider sales (see the details of insider trades here).

Let’s also examine hedge fund and insider activity in other stocks similar to Extra Space Storage, Inc. (NYSE:EXR). These stocks are Sovran Self Storage Inc (NYSE:SSS), DCT Industrial Trust Inc. (NYSE:DCT), CubeSmart (NYSE:CUBE), Duke Realty Corp (NYSE:DRE), and Biomed Realty Trust Inc (NYSE:BMR). All of these stocks are in the reit – industrial industry and their market caps match EXR’s market cap.

Page 1 of 2
Loading Comments...