Sentry Investment Management LLC Sells 185 Shares of Extra Space Storage Inc. (NYSE:EXR)

Sentry Investment Management LLC lowered its stake in Extra Space Storage Inc. (NYSE:EXR) by 17.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 906 shares of the real estate investment trust’s stock after selling 185 shares during the period. Sentry Investment Management LLC’s holdings in Extra Space Storage were worth $141,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of EXR. Massmutual Trust Co. FSB ADV increased its stake in Extra Space Storage by 19.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock worth $72,000 after purchasing an additional 76 shares during the period. QRG Capital Management Inc. increased its stake in shares of Extra Space Storage by 5.2% in the first quarter. QRG Capital Management Inc. now owns 1,588 shares of the real estate investment trust’s stock worth $233,000 after buying an additional 78 shares during the period. Park Avenue Securities LLC raised its holdings in Extra Space Storage by 2.1% during the 2nd quarter. Park Avenue Securities LLC now owns 3,773 shares of the real estate investment trust’s stock valued at $586,000 after buying an additional 79 shares during the last quarter. Gallacher Capital Management LLC raised its holdings in Extra Space Storage by 1.2% during the 2nd quarter. Gallacher Capital Management LLC now owns 7,433 shares of the real estate investment trust’s stock valued at $1,155,000 after buying an additional 86 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in Extra Space Storage by 0.6% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,144 shares of the real estate investment trust’s stock worth $2,820,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Analyst Ratings Changes

EXR has been the subject of several recent analyst reports. Royal Bank of Canada began coverage on shares of Extra Space Storage in a research note on Tuesday. They set a “sector perform” rating and a $180.00 price objective for the company. Evercore ISI increased their price objective on Extra Space Storage from $166.00 to $167.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Wells Fargo & Company lifted their price objective on Extra Space Storage from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Barclays upped their target price on Extra Space Storage from $158.00 to $188.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Raymond James lifted their price target on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $168.36.

Insider Buying and Selling

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the transaction, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at approximately $4,835,260.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $152.58, for a total value of $1,144,350.00. Following the transaction, the chief executive officer now owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $177.01, for a total transaction of $499,699.23. Following the sale, the executive vice president now directly owns 32,855 shares of the company’s stock, valued at $5,815,663.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,323 shares of company stock worth $1,994,709. 1.36% of the stock is owned by insiders.

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $177.30 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.20 and a current ratio of 0.20. The firm has a market cap of $37.54 billion, a price-to-earnings ratio of 39.49, a price-to-earnings-growth ratio of 2.53 and a beta of 0.86. The business has a 50-day simple moving average of $167.24 and a two-hundred day simple moving average of $153.11. Extra Space Storage Inc. has a fifty-two week low of $101.19 and a fifty-two week high of $179.23.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a yield of 3.65%. Extra Space Storage’s dividend payout ratio (DPR) is 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.