Sei Investments Co. Lowers Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Sei Investments Co. lessened its holdings in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 21.3% during the fourth quarter, according to the company in its most recent Form 13F 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 0.20% of Extra Space Storage worth $62,057,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Empowered Funds LLC increased its position in Extra Space Storage by 7.2% during 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 holdings 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 in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Extra Space Storage during the 3rd quarter worth approximately $1,144,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Extra Space Storage during the third quarter valued at approximately $334,000. Finally, Cerity Partners LLC increased its holdings in Extra Space Storage by 39.9% in the 3rd quarter. Cerity Partners LLC now owns 14,426 shares of the real estate investment trust's stock valued at $2,599,000 after buying an additional 4,114 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

EXR has been the subject of a number of recent analyst reports. Barclays dropped their price target on Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating for the company in a report on Wednesday, March 12th. Wells Fargo & Company lowered their target price 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. The Goldman Sachs Group reiterated a "buy" rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Royal Bank of Canada lowered their target price on Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating for the company in a report on Thursday, February 27th. Finally, Scotiabank reduced their price target on Extra Space Storage from $167.00 to $165.00 and set a "sector perform" rating for the company in a research report on Wednesday, March 5th. Two investment 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 data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $171.09.

Extra Space Storage Trading Down 1.3 %

NYSE:EXR traded down $1.84 during midday trading on Tuesday, reaching $144.15. 428,463 shares of the stock traded hands, compared to its average volume of 1,001,413. The stock has a market capitalization of $30.56 billion, a P/E ratio of 37.74, a PEG ratio of 7.76 and a beta of 0.90. Extra Space Storage Inc. has a 12 month low of $131.02 and a 12 month high of $184.87. The company has a fifty day moving average of $152.73 and a 200 day moving average of $160.75. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, beating the consensus estimate of $1.10 by $0.93. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. On average, research analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The firm 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 $1.62 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.50%. Extra Space Storage's payout ratio is presently 160.40%.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 16,690 shares of the company's stock, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph J. Bonner sold 672 shares of the company's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total value of $100,195.20. Following the transaction, the director now directly owns 4,557 shares in the company, valued at approximately $679,448.70. The trade was a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,392 shares of company stock worth $1,396,515 in the last three months. 1.36% of the stock is owned by company insiders.

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.