American Century Companies Inc. Sells 18,530 Shares of Extra Space Storage Inc $EXR

American Century Companies Inc. lessened its stake in Extra Space Storage Inc (NYSE:EXR) by 12.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 135,242 shares of the real estate investment trust’s stock after selling 18,530 shares during the period. American Century Companies Inc. owned about 0.06% of Extra Space Storage worth $20,082,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Extra Space Storage by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 33,969,485 shares of the real estate investment trust’s stock valued at $5,044,129,000 after buying an additional 295,556 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Extra Space Storage by 205.7% in the 1st quarter. JPMorgan Chase & Co. now owns 4,094,555 shares of the real estate investment trust’s stock valued at $608,001,000 after buying an additional 2,755,265 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Extra Space Storage by 0.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,077,577 shares of the real estate investment trust’s stock valued at $456,989,000 after buying an additional 12,607 shares during the last quarter. Invesco Ltd. grew its position in shares of Extra Space Storage by 18.7% in the 1st quarter. Invesco Ltd. now owns 3,056,384 shares of the real estate investment trust’s stock valued at $453,843,000 after buying an additional 480,642 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Extra Space Storage by 48.7% in the 4th quarter. Northern Trust Corp now owns 2,875,049 shares of the real estate investment trust’s stock valued at $430,107,000 after buying an additional 941,212 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock opened at $142.6740 on Friday. Extra Space Storage Inc has a one year low of $121.03 and a one year high of $184.87. The firm has a market capitalization of $30.28 billion, a price-to-earnings ratio of 30.95, a PEG ratio of 3.46 and a beta of 1.07. The business has a 50-day simple moving average of $145.21 and a 200 day simple moving average of $146.78. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.29 and a quick ratio of 0.29.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.01). Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The firm had revenue of $841.62 million during the quarter, compared to the consensus estimate of $719.43 million. During the same period in the previous year, the firm earned $2.06 earnings per share. The business’s quarterly revenue was up 3.8% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. On average, research analysts anticipate 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 Tuesday, September 30th. Investors of record on Monday, September 15th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Monday, September 15th. Extra Space Storage’s payout ratio is presently 140.56%.

Analyst Ratings Changes

A number of equities research analysts have commented on EXR shares. Wall Street Zen upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Sunday. Truist Financial lowered their price objective on Extra Space Storage from $158.00 to $150.00 and set a “hold” rating for the company in a research report on Tuesday, August 19th. The Goldman Sachs Group reissued a “neutral” rating and issued a $146.00 price objective (down from $169.00) on shares of Extra Space Storage in a research report on Thursday. Barclays lowered their price objective on Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Finally, Citigroup lowered their price objective on Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Friday. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $153.60.

Insider Buying and Selling

In related news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total value of $1,127,625.00. Following the completion of the sale, the chief executive officer directly owned 27,260 shares of the company’s stock, valued at $4,098,541. The trade was a 21.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.96% of the stock is owned by insiders.

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.