Mather Group LLC. Buys Shares of 2,412 Extra Space Storage Inc. (NYSE:EXR)

Mather Group LLC. bought a new stake in Extra Space Storage Inc. (NYSE:EXR – Get Rating) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,412 shares of the real estate investment trust’s stock, valued at approximately $416,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EdgeRock Capital LLC bought a new position in Extra Space Storage in the third quarter valued at about $27,000. Veriti Management LLC acquired a new stake in shares of Extra Space Storage during the third quarter valued at about $209,000. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Extra Space Storage by 16.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,124 shares of the real estate investment trust’s stock valued at $872,000 after purchasing an additional 725 shares in the last quarter. Point72 Hong Kong Ltd boosted its stake in shares of Extra Space Storage by 119.8% during the second quarter. Point72 Hong Kong Ltd now owns 23,843 shares of the real estate investment trust’s stock valued at $4,056,000 after purchasing an additional 12,997 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its stake in shares of Extra Space Storage by 1.1% during the second quarter. Mutual of America Capital Management LLC now owns 22,567 shares of the real estate investment trust’s stock valued at $3,839,000 after purchasing an additional 256 shares in the last quarter. Institutional investors own 95.32% of the company’s stock.

Insider Activity

In other news, CMO Samrat Sondhi sold 6,290 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $161.88, for a total transaction of $1,018,225.20. Following the completion of the sale, the chief marketing officer now owns 82,653 shares in the company, valued at $13,379,867.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Gwyn Goodson Mcneal sold 1,500 shares of the company’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $164.00, for a total transaction of $246,000.00. Following the completion of the sale, the executive vice president now owns 32,290 shares in the company, valued at $5,295,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Samrat Sondhi sold 6,290 shares of the company’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $161.88, for a total value of $1,018,225.20. Following the sale, the chief marketing officer now owns 82,653 shares of the company’s stock, valued at approximately $13,379,867.64. The disclosure for this sale can be found here. Insiders sold a total of 8,440 shares of company stock worth $1,371,963 over the last quarter. 1.52% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EXR. Citigroup cut their price target on Extra Space Storage from $175.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, December 12th. Morgan Stanley cut their price target on Extra Space Storage from $153.00 to $145.00 and set an “underweight” rating on the stock in a research note on Wednesday, December 14th. KeyCorp cut their price target on Extra Space Storage from $220.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 30th. Raymond James raised Extra Space Storage from a “market perform” rating to an “outperform” rating and set a $170.00 price objective on the stock in a research note on Monday, January 9th. Finally, Evercore ISI lowered Extra Space Storage from an “in-line” rating to an “underperform” rating and cut their price objective for the stock from $162.00 to $150.00 in a research note on Monday, November 21st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Extra Space Storage has an average rating of “Hold” and an average target price of $170.89.

Extra Space Storage Price Performance

Shares of EXR opened at $157.37 on Wednesday. Extra Space Storage Inc. has a 52-week low of $139.97 and a 52-week high of $222.35. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.54 and a current ratio of 0.54. The business’s 50 day moving average price is $157.59 and its two-hundred day moving average price is $163.76. The firm has a market cap of $21.24 billion, a PE ratio of 24.55, a price-to-earnings-growth ratio of 2.24 and a beta of 0.54.

Extra Space Storage (NYSE:EXR – Get Rating) last issued its quarterly earnings results on Wednesday, February 22nd. The real estate investment trust reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.56). Extra Space Storage had a net margin of 45.52% and a return on equity of 22.01%. The business had revenue of $506.70 million during the quarter, compared to analyst estimates of $433.39 million. During the same period last year, the firm posted $1.91 earnings per share. Extra Space Storage’s quarterly revenue was up 18.4% compared to the same quarter last year. On average, equities analysts anticipate that Extra Space Storage Inc. will post 8.56 EPS for the current year.

Extra Space Storage Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be issued a dividend of $1.62 per share. This is an increase from Extra Space Storage’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.12%. Extra Space Storage’s payout ratio is currently 93.60%.

Extra Space Storage Profile

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Extra Space Storage, Inc is a real estate investment trust. It operates through the following segments: Self-Storage Operations and Tenant Reinsurance. The Self-Storage Operations segment includes rental operations of wholly-owned stores. The Tenant Reinsurance segment includes reinsurance of risks relating to the loss of goods stored by tenants in stores.