Davis Selected Advisers Sells 27,100 Shares of Extra Space Storage Inc $EXR

Key Points

• Davis Selected Advisers cut its position in Extra Space Storage by 49.2%, selling 27,100 shares and leaving 27,955 shares valued at about $3.64 million at the end of the quarter.
• Extra Space Storage missed quarterly EPS at $1.14 versus $2.01 expected while revenue slightly beat ($856.03M); the company set FY2026 guidance of $8.05–$8.35 per share (analysts forecast ~8.23).
• The company pays a $1.62 quarterly dividend (annualized $6.48) for a ~4.6% yield, but has a high payout ratio of about 145%, which may raise sustainability concerns.

Davis Selected Advisers decreased its holdings in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 49.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,955 shares of the real estate investment trust's stock after selling 27,100 shares during the period. Davis Selected Advisers' holdings in Extra Space Storage were worth $3,640,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Avalon Trust Co bought a new position in Extra Space Storage during the 3rd quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd bought a new position in Extra Space Storage during the 3rd quarter valued at approximately $28,000. Versant Capital Management Inc raised its position in Extra Space Storage by 60.2% during the 3rd quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 80 shares during the last quarter. Davis Capital Management bought a new position in Extra Space Storage during the 3rd quarter valued at approximately $35,000. Finally, Rosenberg Matthew Hamilton raised its position in Extra Space Storage by 442.9% during the 4th quarter. Rosenberg Matthew Hamilton now owns 266 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 217 shares during the last quarter. Institutional investors own 99.11% of the company's stock.

Extra Space Storage Stock Down 0.8%

Shares of NYSE:EXR opened at $142.13 on Friday. Extra Space Storage Inc has a 52-week low of $125.71 and a 52-week high of $155.19. The firm has a market capitalization of $30.02 billion, a P/E ratio of 31.87, a P/E/G ratio of 4.54 and a beta of 1.22. The stock has a 50 day moving average price of $140.49 and a 200-day moving average price of $138.55. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.39 and a current ratio of 0.37.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.87). Extra Space Storage had a return on equity of 6.65% and a net margin of 27.66%.The firm had revenue of $856.03 million during the quarter, compared to the consensus estimate of $851.35 million. During the same period in the prior year, the company posted $2.00 EPS. The firm's revenue was up 4.4% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. As a group, equities research analysts anticipate that Extra Space Storage Inc will post 8.23 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Monday, March 16th. Extra Space Storage's payout ratio is 145.29%.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction on Friday, March 13th. The stock was sold at an average price of $142.08, for a total value of $1,065,600.00. Following the sale, the chief executive officer directly owned 66,495 shares of the company's stock, valued at approximately $9,447,609.60. The trade was a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wells Fargo & Company decreased their target price on Extra Space Storage from $150.00 to $148.00 and set an "overweight" rating for the company in a research report on Thursday, April 16th. Wall Street Zen lowered Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Saturday, April 25th. Scotiabank increased their target price on Extra Space Storage from $145.00 to $156.00 and gave the stock a "sector perform" rating in a research report on Monday, March 2nd. Royal Bank Of Canada increased their target price on Extra Space Storage from $142.00 to $153.00 and gave the stock a "sector perform" rating in a research report on Monday, February 23rd. Finally, Barclays increased their target price on Extra Space Storage from $164.00 to $170.00 and gave the stock an "overweight" rating in a research report on Thursday, March 5th. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Extra Space Storage has an average rating of "Hold" and an average target price of $143.67.

Extra Space Storage 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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