Extra Space Storage Inc $EXR Position Cut by Thrivent Financial for Lutherans

Key Points

• Thrivent Financial for Lutherans cut its Extra Space Storage stake by 14.4% in the fourth quarter, selling 84,669 shares and leaving it with 504,602 shares valued at about $65.7 million.
• Insider selling continued as CEO Joseph D. Margolis sold 7,500 shares for about $1.07 million, reducing his position by 10.14%.
• Analysts remain cautious overall: Extra Space Storage has a consensus rating of “Hold” with a $150.29 price target, even after several firms raised targets and BNP Paribas Exane upgraded the stock to outperform.

Thrivent Financial for Lutherans trimmed its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 14.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 504,602 shares of the real estate investment trust's stock after selling 84,669 shares during the quarter. Thrivent Financial for Lutherans owned about 0.24% of Extra Space Storage worth $65,710,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Avalon Trust Co bought a new position in Extra Space Storage in the 3rd quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd bought a new position in Extra Space Storage in the 3rd quarter worth approximately $28,000. Versant Capital Management Inc grew its holdings in Extra Space Storage by 60.2% in the 3rd quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust's stock worth $30,000 after buying an additional 80 shares in the last quarter. Rosenberg Matthew Hamilton grew its holdings in Extra Space Storage by 442.9% in the 4th quarter. Rosenberg Matthew Hamilton now owns 266 shares of the real estate investment trust's stock worth $35,000 after buying an additional 217 shares in the last quarter. Finally, Logan Capital Management Inc. grew its holdings in Extra Space Storage by 313.7% in the 3rd quarter. Logan Capital Management Inc. now owns 302 shares of the real estate investment trust's stock worth $43,000 after buying an additional 229 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

Insider Activity at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $142.08, for a total transaction of $1,065,600.00. Following the completion of the sale, the chief executive officer owned 66,495 shares in the company, valued at approximately $9,447,609.60. This represents a 10.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.96% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada increased their price objective on Extra Space Storage from $142.00 to $153.00 and gave the stock a "sector perform" rating in a report on Monday, February 23rd. Barclays increased their price objective on Extra Space Storage from $164.00 to $170.00 and gave the stock an "overweight" rating in a report on Thursday, March 5th. BNP Paribas Exane raised Extra Space Storage from a "neutral" rating to an "outperform" rating and set a $154.00 price target for the company in a research note on Wednesday, March 18th. Bank of America lowered Extra Space Storage from a "neutral" rating to an "underperform" rating and set a $143.00 price target for the company. in a research note on Thursday, February 5th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Extra Space Storage in a research note on Tuesday, April 21st. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $150.29.

Extra Space Storage Stock Performance

Shares of NYSE EXR opened at $136.84 on Friday. The stock has a fifty day moving average price of $139.08 and a two-hundred day moving average price of $137.98. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a market cap of $28.91 billion, a P/E ratio of 30.68, a PEG ratio of 4.63 and a beta of 1.22. Extra Space Storage Inc has a 1 year low of $125.71 and a 1 year high of $155.19.

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

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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