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

Sei Investments Co. reduced its stake in shares of Extra Space Storage Inc. (NYSE:EXRFree Report) by 21.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 414,822 shares of the real estate investment trust’s stock after selling 112,234 shares during the period. Sei Investments Co.’s holdings in Extra Space Storage were worth $62,057,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Empowered Funds LLC increased its position in Extra Space Storage by 7.2% in the third quarter. Empowered Funds LLC now owns 3,928 shares of the real estate investment trust’s stock worth $708,000 after buying an additional 264 shares during the last quarter. Pathstone Holdings LLC raised its stake in Extra Space Storage by 1.1% in the 3rd quarter. Pathstone Holdings LLC now owns 13,027 shares of the real estate investment trust’s stock valued at $2,347,000 after acquiring an additional 148 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Extra Space Storage in the 3rd quarter valued at about $1,144,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Extra Space Storage during the third quarter valued at about $334,000. Finally, Cerity Partners LLC boosted its position in Extra Space Storage by 39.9% during the third quarter. Cerity Partners LLC now owns 14,426 shares of the real estate investment trust’s stock worth $2,599,000 after purchasing an additional 4,114 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. The Goldman Sachs Group restated a “buy” rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Barclays dropped their target price on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. Truist Financial lifted their price target on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Wells Fargo & Company dropped their price objective on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. Finally, Royal Bank of Canada decreased 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 report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Extra Space Storage presently has a consensus rating of “Hold” and a consensus price target of $171.09.

Get Our Latest Stock Report on EXR

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, Director Joseph J. Bonner sold 672 shares of the business’s stock in a transaction on 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 directly owns 4,557 shares of the company’s stock, valued at $679,448.70. The trade was a 12.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP William N. Springer sold 1,220 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the transaction, the executive vice president now directly owns 20,158 shares in the company, valued at $3,077,320.28. This trade represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,392 shares of company stock worth $1,396,515. 1.36% of the stock is currently owned by corporate insiders.

Extra Space Storage Stock Down 1.3 %

EXR stock opened at $143.92 on Monday. The company’s 50 day moving average is $152.76 and its 200 day moving average is $160.95. The stock has a market cap 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 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 1-year low of $131.02 and a 1-year high of $184.87.

Extra Space Storage (NYSE:EXRGet Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.93. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm had revenue of $821.90 million for the quarter, compared to analyst estimates of $707.34 million. Sell-side analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

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

Extra Space Storage Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Extra Space Storage (NYSE:EXR)

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