Thrivent Financial for Lutherans Has $83.22 Million Stake in Extra Space Storage Inc. (NYSE:EXR)

Thrivent Financial for Lutherans lessened its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 9.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 461,830 shares of the real estate investment trust’s stock after selling 45,513 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.22% of Extra Space Storage worth $83,217,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of EXR. EdgeRock Capital LLC acquired a new position in Extra Space Storage during the second quarter worth $25,000. Centerpoint Advisors LLC bought a new stake in shares of Extra Space Storage during the second quarter worth $27,000. Ashton Thomas Securities LLC bought a new position in Extra Space Storage in the third quarter valued at about $33,000. Blue Trust Inc. grew its position in shares of Extra Space Storage by 540.5% during the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 200 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of Extra Space Storage by 2,760.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 276 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $164.56 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The business has a 50-day moving average of $171.50 and a 200-day moving average of $162.65. The stock has a market capitalization of $34.88 billion, a price-to-earnings ratio of 43.08, a PEG ratio of 8.29 and a beta of 0.87. Extra Space Storage Inc. has a fifty-two week low of $125.32 and a fifty-two week high of $184.87.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company had revenue of $824.80 million during the quarter, compared to the consensus estimate of $826.93 million. During the same quarter in the prior year, the business earned $2.02 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, sell-side analysts predict that Extra Space Storage Inc. will post 8.09 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.94%. Extra Space Storage’s dividend payout ratio (DPR) is currently 169.63%.

Insider Buying and Selling

In other news, Director Kenneth M. Woolley sold 6,647 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $177.23, for a total transaction of $1,178,047.81. Following the transaction, the director now owns 404,306 shares in the company, valued at approximately $71,655,152.38. This trade represents a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the sale, the chief executive officer now directly owns 24,190 shares of the company’s stock, valued at $4,318,398.80. This represents a 23.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,970 shares of company stock worth $3,367,307. Company insiders own 1.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on EXR shares. Raymond James upped their price target on Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Wells Fargo & Company reissued an “equal weight” rating and set a $175.00 price target on shares of Extra Space Storage in a research report on Monday, October 21st. Scotiabank upped their price objective on shares of Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a research report on Thursday, August 22nd. Bank of America lowered Extra Space Storage from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $172.00 to $155.00 in a report on Monday, August 5th. Finally, Truist Financial boosted their price objective on Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Extra Space Storage presently has an average rating of “Hold” and an average price target of $171.50.

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.