Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,241 shares of the real estate investment trust’s stock after selling 1,054 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Extra Space Storage were worth $4,374,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in shares of Extra Space Storage in the 4th quarter worth about $25,000. Ashton Thomas Securities LLC bought a new stake in Extra Space Storage in the third quarter valued at about $33,000. Harvest Fund Management Co. Ltd bought a new stake in Extra Space Storage in the third quarter valued at about $42,000. Quent Capital LLC raised its stake in Extra Space Storage by 89.0% during the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 154 shares in the last quarter. Finally, Asset Planning Inc bought a new position in Extra Space Storage during the 4th quarter worth approximately $52,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at $2,470,286.90. This represents a 31.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction on Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the transaction, the executive vice president now owns 20,158 shares in the company, valued at approximately $3,077,320.28. This trade represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on EXR shares. Barclays decreased their target price on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Truist Financial boosted their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Wells Fargo & Company reduced their price target on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. Scotiabank raised shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price target for the company in a report on Friday, January 10th. Finally, StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $171.55.

Extra Space Storage Price Performance

NYSE EXR opened at $153.62 on Wednesday. The company has a 50-day moving average price of $152.47 and a two-hundred day moving average price of $163.25. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. The stock has a market cap of $32.57 billion, a price-to-earnings ratio of 40.22, a price-to-earnings-growth ratio of 7.76 and a beta of 0.91. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.93. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. Analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date is Friday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is 160.40%.

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.