Mutual of America Capital Management LLC Sells 734 Shares of Extra Space Storage Inc. (NYSE:EXR)

Mutual of America Capital Management LLC lowered its position in Extra Space Storage Inc. (NYSE:EXR) by 2.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,295 shares of the real estate investment trust’s stock after selling 734 shares during the period. Mutual of America Capital Management LLC’s holdings in Extra Space Storage were worth $5,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of EXR. Gateway Investment Advisers LLC bought a new stake in shares of Extra Space Storage during the 2nd quarter worth approximately $16,026,000. MADDEN SECURITIES Corp purchased a new stake in shares of Extra Space Storage during the second quarter valued at $1,002,000. Tidal Investments LLC grew its holdings in shares of Extra Space Storage by 262.5% in the first quarter. Tidal Investments LLC now owns 12,967 shares of the real estate investment trust’s stock worth $1,906,000 after purchasing an additional 9,390 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Extra Space Storage by 53.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,738 shares of the real estate investment trust’s stock worth $1,824,000 after buying an additional 4,102 shares during the period. Finally, Czech National Bank lifted its holdings in Extra Space Storage by 8.5% during the 2nd quarter. Czech National Bank now owns 40,346 shares of the real estate investment trust’s stock valued at $6,270,000 after buying an additional 3,172 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Up 0.3 %

Shares of EXR stock opened at $165.45 on Wednesday. The stock’s fifty day moving average price is $171.30 and its 200 day moving average price is $163.00. Extra Space Storage Inc. has a 1-year low of $125.32 and a 1-year high of $184.87. The company has a market cap of $35.07 billion, a price-to-earnings ratio of 43.31, a price-to-earnings-growth ratio of 8.29 and a beta of 0.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23.

Extra Space Storage (NYSE:EXR) last issued 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). The business had revenue of $824.80 million for the quarter, compared to analysts’ expectations of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Extra Space Storage’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.02 EPS. On average, research analysts expect that Extra Space Storage Inc. will post 8.09 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $6.48 annualized dividend and a dividend yield of 3.92%. Extra Space Storage’s payout ratio is currently 169.63%.

Insider Transactions at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 24,190 shares in the company, valued at $4,318,398.80. This trade represents a 23.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of Extra Space Storage 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 owns 32,855 shares of the company’s stock, valued at approximately $5,815,663.55. The trade was a 7.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,051 shares of company stock worth $3,874,316. Company insiders own 1.36% of the company’s stock.

Wall Street Analysts Forecast Growth

EXR has been the topic of a number of research analyst reports. Bank of America downgraded shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $172.00 to $155.00 in a research note on Monday, August 5th. Evercore ISI decreased their target price on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. Raymond James increased their price target on Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. KeyCorp lifted their price objective on Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Finally, Jefferies Financial Group upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and increased their target price for the stock from $162.00 to $204.00 in a report on Wednesday, September 18th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $171.50.

Extra Space Storage Company 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.