Mutual of America Capital Management LLC Cuts Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Mutual of America Capital Management LLC cut its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 3.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of EXR. Golden State Wealth Management LLC purchased a new position in Extra Space Storage during the fourth quarter worth about $25,000. Ashton Thomas Securities LLC acquired a new position in Extra Space Storage during the third quarter worth $33,000. Harvest Fund Management Co. Ltd purchased a new position in Extra Space Storage in the third quarter worth $42,000. Quent Capital LLC lifted its holdings in Extra Space Storage by 89.0% in the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 154 shares during the period. Finally, Asset Planning Inc purchased a new stake in shares of Extra Space Storage during the 4th quarter worth $52,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EXR has been the topic of several recent analyst reports. Royal Bank of Canada lowered their target price on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Wells Fargo & Company dropped their price objective on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. Barclays reduced their price objective on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Truist Financial upped their target price on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Finally, Scotiabank upgraded shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective on the stock in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $171.55.

Insider Transactions at Extra Space Storage

In related news, EVP William N. Springer sold 1,220 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the sale, the executive vice president now directly owns 20,158 shares in the company, valued at approximately $3,077,320.28. This trade represents a 5.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the completion of the transaction, the chief executive officer now owns 16,690 shares of the company’s stock, valued at $2,470,286.90. This trade represents a 31.00 % 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.

Extra Space Storage Trading Down 0.2 %

Shares of EXR stock opened at $153.62 on Wednesday. The firm has a 50-day moving average price of $152.47 and a 200 day moving average price of $163.25. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $32.57 billion, a price-to-earnings ratio of 40.22, a PEG ratio of 7.76 and a beta of 0.91. Extra Space Storage Inc. has a twelve month low of $131.02 and a twelve month high of $184.87.

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

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is currently 160.40%.

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.