Sei Investments Co. Boosts Position in Extra Space Storage Inc. (NYSE:EXR)

Sei Investments Co. boosted its holdings in Extra Space Storage Inc. (NYSE:EXR) by 2.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 589,798 shares of the real estate investment trust’s stock after purchasing an additional 14,988 shares during the quarter. Sei Investments Co. owned about 0.28% of Extra Space Storage worth $91,661,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. EdgeRock Capital LLC purchased a new stake in shares of Extra Space Storage during the 2nd quarter worth approximately $25,000. Creekmur Asset Management LLC acquired a new stake in Extra Space Storage during the 4th quarter worth $26,000. Centerpoint Advisors LLC purchased a new stake in Extra Space Storage in the second quarter valued at $27,000. Blue Trust Inc. boosted its stake in Extra Space Storage by 540.5% in the second quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 200 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Extra Space Storage by 2,760.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 276 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

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 Monday, July 1st. The shares were sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the sale, the chief executive officer now directly owns 31,690 shares in the company, valued at approximately $4,835,260.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the completion of the sale, the chief executive officer now directly owns 31,690 shares in the company, valued at approximately $4,835,260.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP William N. Springer sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total value of $350,660.00. Following the sale, the executive vice president now directly owns 11,919 shares in the company, valued at approximately $2,089,758.27. The disclosure for this sale can be found here. Insiders have sold 18,970 shares of company stock valued at $3,172,757 over the last quarter. Company insiders own 1.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Citigroup reduced their target price on Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, June 7th. Wells Fargo & Company increased their price objective on Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Scotiabank raised their target price on shares of Extra Space Storage from $159.00 to $169.00 and gave the stock a “sector underperform” rating in a research report on Thursday, August 22nd. StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Truist Financial increased their price target on shares of Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $170.93.

Extra Space Storage Price Performance

Shares of EXR opened at $180.41 on Friday. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.76. The stock’s 50 day moving average is $170.03 and its two-hundred day moving average is $154.77. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $184.87. The firm has a market capitalization of $38.20 billion, a PE ratio of 40.18, a P/E/G ratio of 2.56 and a beta of 0.86.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $1.62 dividend. The ex-dividend date is Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.59%. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

About Extra Space Storage

Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2023, the Company owned and/or operated 3,714 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.6 million units and approximately 283.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.