Extra Space Storage Inc $EXR Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC cut its stake in Extra Space Storage by 53.7% in the fourth quarter, leaving it with 7,228 shares valued at about $941,000.
• CEO Joseph D. Margolis sold 7,500 shares for about $1.07 million, a transaction that reduced his ownership by 10.14%.
• Analysts are mixed on EXR, with a consensus Hold rating and average price target of $152.29; the company also announced a quarterly dividend of $1.62 per share, yielding about 4.5%.

Intech Investment Management LLC lessened its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 53.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,228 shares of the real estate investment trust's stock after selling 8,396 shares during the quarter. Intech Investment Management LLC's holdings in Extra Space Storage were worth $941,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Avalon Trust Co purchased a new position in Extra Space Storage in the third quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd purchased a new position in Extra Space Storage in the third quarter worth approximately $28,000. Rosenberg Matthew Hamilton grew its position in Extra Space Storage by 442.9% in the fourth quarter. Rosenberg Matthew Hamilton now owns 266 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 217 shares during the period. Creative Financial Designs Inc. ADV grew its position in Extra Space Storage by 39.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 325 shares of the real estate investment trust's stock worth $42,000 after acquiring an additional 92 shares during the period. Finally, Logan Capital Management Inc. grew its position in Extra Space Storage by 313.7% in the third quarter. Logan Capital Management Inc. now owns 302 shares of the real estate investment trust's stock worth $43,000 after acquiring an additional 229 shares during the period. Institutional investors and hedge funds own 99.11% of the company's stock.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer owned 66,495 shares of the company's stock, valued at $9,447,609.60. This trade represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.96% of the company's stock.

Analysts Set New Price Targets

EXR has been the subject of several research analyst reports. Wells Fargo & Company raised their price target on Extra Space Storage from $148.00 to $154.00 and gave the stock an "overweight" rating in a research report on Monday, June 1st. JPMorgan Chase & Co. raised their price target on Extra Space Storage from $142.00 to $144.00 and gave the stock a "neutral" rating in a research report on Monday, March 23rd. Truist Financial lowered their price target on Extra Space Storage from $158.00 to $150.00 and set a "hold" rating for the company in a research report on Wednesday, May 6th. Scotiabank raised their price target 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. Finally, BNP Paribas Exane upgraded Extra Space Storage from a "neutral" rating to an "outperform" rating and set a $154.00 price target for the company in a research report on Wednesday, March 18th. Five equities 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.com, the company presently has a consensus rating of "Hold" and a consensus price target of $152.29.

Extra Space Storage Trading Up 0.0%

NYSE:EXR opened at $145.34 on Monday. Extra Space Storage Inc has a 12-month low of $125.71 and a 12-month high of $155.19. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93. The firm has a market cap of $30.71 billion, a PE ratio of 32.59, a price-to-earnings-growth ratio of 4.72 and a beta of 1.20. The stock has a fifty day moving average price of $140.43 and a 200 day moving average price of $138.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share for the quarter, missing analysts' consensus estimates of $2.01 by ($0.87). Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The business had revenue of $856.03 million during the quarter, compared to analyst estimates of $851.35 million. During the same quarter in the prior year, the business earned $2.00 earnings per share. The firm's quarterly 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. Sell-side analysts anticipate that Extra Space Storage Inc will post 8.24 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $1.62 per share. The ex-dividend date is Monday, June 15th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.5%. Extra Space Storage's payout ratio is 145.29%.

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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