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

Mutual of America Capital Management LLC decreased its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 4.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 30,263 shares of the real estate investment trust’s stock after selling 1,511 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Extra Space Storage were worth $4,852,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Whittier Trust Co. grew its holdings in shares of Extra Space Storage by 4.5% during the fourth quarter. Whittier Trust Co. now owns 1,656 shares of the real estate investment trust’s stock worth $266,000 after buying an additional 72 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Extra Space Storage by 5.6% during the first quarter. Private Advisor Group LLC now owns 1,404 shares of the real estate investment trust’s stock worth $289,000 after buying an additional 74 shares in the last quarter. Thomas White International Ltd. grew its holdings in shares of Extra Space Storage by 5.9% during the fourth quarter. Thomas White International Ltd. now owns 1,483 shares of the real estate investment trust’s stock worth $218,000 after buying an additional 83 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Extra Space Storage by 35.2% during the first quarter. Geneos Wealth Management Inc. now owns 384 shares of the real estate investment trust’s stock worth $78,000 after buying an additional 100 shares in the last quarter. Finally, Horizon Investments LLC grew its holdings in shares of Extra Space Storage by 3.3% during the first quarter. Horizon Investments LLC now owns 3,578 shares of the real estate investment trust’s stock worth $736,000 after buying an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on EXR. Deutsche Bank Aktiengesellschaft started coverage on shares of Extra Space Storage in a report on Tuesday, January 30th. They set a “hold” rating and a $141.00 target price for the company. The Goldman Sachs Group upped their price objective on shares of Extra Space Storage from $168.00 to $187.00 and gave the company a “buy” rating in a report on Thursday, January 11th. TheStreet raised shares of Extra Space Storage from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Truist Financial upped their price objective on shares of Extra Space Storage from $138.00 to $152.00 and gave the company a “hold” rating in a report on Thursday, December 28th. Finally, Raymond James reissued an “outperform” rating and issued a $160.00 price objective on shares of Extra Space Storage in a report on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $150.17.

Insider Transactions at Extra Space Storage

In other news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the sale, the executive vice president now owns 37,028 shares of the company’s stock, valued at $5,369,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CMO Samrat Sondhi sold 2,048 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $146.46, for a total value of $299,950.08. Following the sale, the chief marketing officer now owns 94,126 shares of the company’s stock, valued at $13,785,693.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the sale, the executive vice president now directly owns 37,028 shares in the company, valued at approximately $5,369,060. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,532 shares of company stock valued at $514,819. 1.55% of the stock is currently owned by corporate insiders.

Extra Space Storage Trading Down 1.8 %

Shares of EXR stock opened at $140.69 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a market cap of $29.77 billion, a PE ratio of 28.48, a price-to-earnings-growth ratio of 3.46 and a beta of 0.74. The company has a 50-day moving average of $143.28 and a two-hundred day moving average of $137.24. Extra Space Storage Inc. has a 1-year low of $101.19 and a 1-year high of $164.99.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.01). The business had revenue of $797.77 million for the quarter, compared to analyst estimates of $778.05 million. Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The firm’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.09 EPS. On average, analysts predict that Extra Space Storage Inc. will post 8.05 EPS for the current year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $1.62 per share. The ex-dividend date was Thursday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.61%. Extra Space Storage’s dividend payout ratio is presently 131.17%.

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.