Sei Investments Co. Sells 24,621 Shares of Extra Space Storage Inc $EXR

Key Points

• Sei Investments Co. trimmed its stake in Extra Space Storage by 2.5% in the first quarter, selling 24,621 shares and ending with 942,885 shares valued at about $123.6 million.
• Analysts remain mixed on EXR, with a consensus rating of Hold and an average price target of $146.27, though several firms recently upgraded or reiterated positive views.
• Extra Space Storage reported Q1 EPS of $1.14, missing estimates, while revenue came in slightly above expectations; the company also paid a $1.62 quarterly dividend, implying a 4.5% yield.

Sei Investments Co. lessened its stake in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 2.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 942,885 shares of the real estate investment trust's stock after selling 24,621 shares during the period. Sei Investments Co. owned 0.45% of Extra Space Storage worth $123,640,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of EXR. 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 acquired a new position in shares of Extra Space Storage during the third quarter valued at about $28,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Extra Space Storage during the 1st quarter worth about $30,000. DV Equities LLC bought a new position in shares of Extra Space Storage during the 4th quarter worth about $39,000. Finally, Zions Bancorporation National Association UT grew its stake 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 valued at $40,000 after buying an additional 193 shares during the period. 99.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on EXR shares. Wall Street Zen raised Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Saturday, July 18th. Weiss Ratings reiterated a "hold (c)" rating on shares of Extra Space Storage in a report on Friday, July 17th. Raymond James Financial initiated coverage on Extra Space Storage in a research note on Thursday, July 16th. They issued an "outperform" rating and a $44.00 price objective for the company. Bank of America upgraded Extra Space Storage from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $147.00 to $156.00 in a report on Tuesday, June 16th. Finally, Mizuho upped their target price on Extra Space Storage from $150.00 to $155.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 27th. Six investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, Extra Space Storage has a consensus rating of "Hold" and an average price target of $146.27.

Insider Buying and Selling

In other news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $150.00, for a total value of $495,000.00. Following the transaction, the executive vice president owned 37,374 shares in the company, 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. Company insiders own 0.96% of the company's stock.

Extra Space Storage Price Performance

EXR opened at $145.60 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37. The company has a market capitalization of $30.76 billion, a price-to-earnings ratio of 32.65, a P/E/G ratio of 4.49 and a beta of 1.19. The firm's fifty day moving average price is $145.50 and its two-hundred day moving average price is $142.64. 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 announced its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $856.03 million during the quarter, compared to analysts' expectations of $851.35 million. During the same quarter in the prior year, the company earned $2.00 EPS. The business's revenue for the quarter 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, analysts anticipate that Extra Space Storage Inc will post 8.26 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $1.62 dividend. The ex-dividend date was Monday, June 15th. This represents a $6.48 annualized dividend and a yield of 4.5%. Extra Space Storage's dividend payout ratio (DPR) 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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