Argent Capital Management LLC Sells 12,815 Shares of Extra Space Storage Inc $EXR

Key Points

• Argent Capital Management reduced its Extra Space Storage stake by 10.5%, selling 12,815 shares and retaining 109,141 shares worth approximately $14.3 million. Institutional investors and hedge funds collectively own 99.11% of the company.
• Analyst sentiment remains mixed, with six Buy ratings and ten Hold ratings; the consensus rating is Hold with an average price target of $147.73. Recent targets range from $148 to $163.
• Extra Space Storage reported quarterly EPS of $1.25, exceeding estimates of $1.16, while revenue reached $874.15 million and rose 3.9% year over year. The company also maintains a quarterly dividend of $1.62 per share, equivalent to a 4.4% annualized yield.

Argent Capital Management LLC lessened its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 10.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 109,141 shares of the real estate investment trust's stock after selling 12,815 shares during the period. Argent Capital Management LLC owned approximately 0.05% of Extra Space Storage worth $14,312,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Reflection Asset Management bought a new stake in Extra Space Storage in the fourth quarter valued at $26,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Extra Space Storage during the third quarter valued at $28,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Extra Space Storage in the 1st quarter valued at $30,000. DV Equities LLC acquired a new stake in shares of Extra Space Storage in the 4th quarter valued at $39,000. Finally, Zions Bancorporation National Association UT grew its holdings in shares of Extra Space Storage by 172.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 305 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 193 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Extra Space Storage

In other news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the business's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $150.00, for a total value of $495,000.00. Following the completion of the transaction, the executive vice president owned 37,374 shares of the company's stock, valued at $5,606,100. The trade was a 8.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.96% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on EXR shares. Mizuho raised their price objective on shares of Extra Space Storage from $150.00 to $155.00 and gave the stock an "outperform" rating in a report on Wednesday, May 27th. Truist Financial boosted their target price on Extra Space Storage from $140.00 to $148.00 and gave the stock a "hold" rating in a report on Wednesday, June 17th. UBS Group increased their price target on Extra Space Storage from $158.00 to $163.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Bank of America raised Extra Space Storage from an "underperform" rating to a "neutral" rating and raised their price target for the company from $147.00 to $156.00 in a report on Tuesday, June 16th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $160.00 price objective on shares of Extra Space Storage in a research report on Thursday. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $147.73.

Extra Space Storage Stock Up 0.2%

Shares of Extra Space Storage stock opened at $148.49 on Friday. The company has a quick ratio of 0.37, a current ratio of 1.56 and a debt-to-equity ratio of 0.96. Extra Space Storage Inc has a 12 month low of $125.71 and a 12 month high of $158.88. The business has a fifty day simple moving average of $146.52 and a 200 day simple moving average of $143.18. The stock has a market cap of $31.37 billion, a PE ratio of 32.78, a price-to-earnings-growth ratio of 4.57 and a beta of 1.19.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.09. The company had revenue of $874.15 million during the quarter, compared to analyst estimates of $874.99 million. Extra Space Storage had a return on equity of 6.70% and a net margin of 27.80%.The company's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.05 EPS. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. Research analysts predict that Extra Space Storage Inc will post 8.29 EPS for the current year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, June 15th. Extra Space Storage's dividend payout ratio (DPR) is currently 143.05%.

Extra Space Storage Company Profile

Extra Space Storage NYSE: EXR is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.

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