Sei Investments Co. Sells 112,234 Shares of Extra Space Storage Inc. (NYSE:EXR)

Sei Investments Co. lessened its stake in Extra Space Storage Inc. (NYSE:EXR) by 21.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 414,822 shares of the real estate investment trust’s stock after selling 112,234 shares during the period. Sei Investments Co. owned about 0.20% of Extra Space Storage worth $62,057,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in EXR. State Street Corp boosted its holdings in Extra Space Storage by 1.7% in the third quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust’s stock valued at $2,412,894,000 after acquiring an additional 227,006 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Extra Space Storage by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,409,330 shares of the real estate investment trust’s stock valued at $360,436,000 after purchasing an additional 43,223 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Extra Space Storage by 5.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,127,067 shares of the real estate investment trust’s stock valued at $318,209,000 after purchasing an additional 106,608 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Extra Space Storage by 724.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust’s stock worth $357,100,000 after buying an additional 1,741,320 shares during the period. Finally, Boston Partners raised its stake in Extra Space Storage by 5.9% during the fourth quarter. Boston Partners now owns 1,466,816 shares of the real estate investment trust’s stock worth $219,437,000 after buying an additional 82,104 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Truist Financial increased their price target on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Scotiabank decreased their target price on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 5th. The Goldman Sachs Group restated a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. Wells Fargo & Company lowered their price objective on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. Finally, StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Extra Space Storage presently has an average rating of “Hold” and an average target price of $171.09.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, Director Joseph J. Bonner sold 672 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the sale, the director now owns 4,557 shares in the company, valued at approximately $679,448.70. This trade represents a 12.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the transaction, the executive vice president now directly owns 20,158 shares in the company, valued at approximately $3,077,320.28. This represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 9,392 shares of company stock valued at $1,396,515. 1.36% of the stock is owned by insiders.

Extra Space Storage Stock Down 1.3 %

Extra Space Storage stock opened at $143.92 on Monday. The firm has a market capitalization of $30.51 billion, a price-to-earnings ratio of 37.67, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. The firm’s fifty day moving average price is $152.76 and its two-hundred day moving average price is $160.95. Extra Space Storage Inc. has a 1-year low of $131.02 and a 1-year high of $184.87. 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 (NYSE:EXR) last announced its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.93. The business had revenue of $821.90 million for the quarter, compared to analysts’ expectations of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. On average, equities research analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.50%. Extra Space Storage’s dividend payout ratio (DPR) is currently 160.40%.

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.