Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Sentry Investment Management LLC

Sentry Investment Management LLC trimmed its holdings in Extra Space Storage Inc. (NYSE:EXR) by 9.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,091 shares of the real estate investment trust’s stock after selling 117 shares during the period. Sentry Investment Management LLC’s holdings in Extra Space Storage were worth $175,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in EXR. Mackenzie Financial Corp grew its stake in Extra Space Storage by 28.1% in the fourth quarter. Mackenzie Financial Corp now owns 19,108 shares of the real estate investment trust’s stock worth $3,064,000 after purchasing an additional 4,186 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Extra Space Storage in the 4th quarter valued at approximately $2,052,000. NewEdge Wealth LLC increased its holdings in shares of Extra Space Storage by 30.3% in the 4th quarter. NewEdge Wealth LLC now owns 3,655 shares of the real estate investment trust’s stock valued at $586,000 after acquiring an additional 850 shares during the last quarter. Clarius Group LLC raised its position in shares of Extra Space Storage by 14.5% during the 4th quarter. Clarius Group LLC now owns 2,362 shares of the real estate investment trust’s stock valued at $379,000 after acquiring an additional 300 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake in Extra Space Storage by 47.4% during the fourth quarter. Cerity Partners LLC now owns 6,564 shares of the real estate investment trust’s stock worth $1,052,000 after purchasing an additional 2,110 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $135.87 on Wednesday. The stock has a market cap of $28.75 billion, a price-to-earnings ratio of 27.50, a PEG ratio of 3.38 and a beta of 0.74. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.30 and a quick ratio of 0.30. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $164.99. The stock’s 50 day moving average price is $143.10 and its 200 day moving average price is $137.46.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The firm had revenue of $797.77 million during the quarter, compared to the consensus estimate of $778.05 million. During the same period in the prior year, the firm posted $2.09 EPS. The firm’s quarterly revenue was up 57.4% on a year-over-year basis. Equities research analysts anticipate that Extra Space Storage Inc. will post 8.05 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $1.62 dividend. The ex-dividend date was Thursday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.77%. Extra Space Storage’s dividend payout ratio (DPR) is 131.17%.

Insider Activity

In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of Extra Space Storage stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $145.00, for a total value of $195,750.00. Following the transaction, the executive vice president now owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CMO Samrat Sondhi sold 2,048 shares of Extra Space Storage stock in a transaction on Monday, March 4th. The stock was sold at an average price of $146.46, for a total transaction of $299,950.08. Following the transaction, the chief marketing officer now owns 94,126 shares in the company, valued at $13,785,693.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total value of $195,750.00. Following the transaction, the executive vice president now directly owns 37,028 shares in the company, valued at $5,369,060. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,532 shares of company stock worth $514,819. Insiders own 1.36% of the company’s stock.

Wall Street Analysts Forecast Growth

EXR has been the topic of a number of research reports. Barclays assumed coverage on shares of Extra Space Storage in a report on Wednesday, March 27th. They set an “overweight” rating and a $157.00 target price on the stock. Morgan Stanley upgraded Extra Space Storage from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $115.00 to $150.00 in a research note on Thursday, December 21st. TheStreet upgraded Extra Space Storage from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. The Goldman Sachs Group increased their price objective on shares of Extra Space Storage from $168.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Finally, StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, March 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $150.17.

Extra Space Storage Profile

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.