Mutual of America Capital Management LLC Buys 1,767 Shares of Extra Space Storage Inc. (NYSE:EXR)

Mutual of America Capital Management LLC lifted its position in Extra Space Storage Inc. (NYSE:EXRFree Report) by 5.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,030 shares of the real estate investment trust’s stock after buying an additional 1,767 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Extra Space Storage were worth $4,708,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in EXR. Vanguard Group Inc. grew its position in shares of Extra Space Storage by 55.7% in the 3rd quarter. Vanguard Group Inc. now owns 33,686,341 shares of the real estate investment trust’s stock valued at $4,095,585,000 after acquiring an additional 12,055,172 shares during the period. Principal Financial Group Inc. raised its stake in Extra Space Storage by 8.9% in the fourth quarter. Principal Financial Group Inc. now owns 7,083,752 shares of the real estate investment trust’s stock valued at $1,135,738,000 after buying an additional 577,918 shares during the period. Norges Bank acquired a new stake in shares of Extra Space Storage in the fourth quarter valued at approximately $1,022,811,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Extra Space Storage by 6.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,219,030 shares of the real estate investment trust’s stock worth $516,107,000 after acquiring an additional 186,940 shares during the period. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Extra Space Storage by 8.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 2,724,293 shares of the real estate investment trust’s stock worth $436,786,000 after acquiring an additional 211,395 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Trading Down 0.7 %

EXR opened at $153.53 on Wednesday. The stock has a market capitalization of $32.51 billion, a price-to-earnings ratio of 34.19, a P/E/G ratio of 3.26 and a beta of 0.83. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.73. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $164.99. The company has a 50-day simple moving average of $149.43 and a 200 day simple moving average of $146.91.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date was Friday, June 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

Insider Buying and Selling

In related news, Director Joseph J. Bonner sold 677 shares of Extra Space Storage stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $148.22, for a total value of $100,344.94. Following the transaction, the director now directly owns 5,229 shares of the company’s stock, valued at $775,042.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Joseph J. Bonner sold 677 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $148.22, for a total value of $100,344.94. Following the completion of the transaction, the director now owns 5,229 shares of the company’s stock, valued at $775,042.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the transaction, the chief executive officer now owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Barclays raised their price target on Extra Space Storage from $157.00 to $158.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Citigroup reduced their target price on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, June 7th. Evercore ISI lowered their price target on shares of Extra Space Storage from $145.00 to $139.00 in a report on Wednesday, May 1st. Wells Fargo & Company raised their price objective on shares of Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $160.00 target price on shares of Extra Space Storage in a research report on Thursday, March 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $151.83.

Get Our Latest Research Report on Extra Space Storage

Extra Space Storage Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Extra Space Storage (NYSE:EXR)

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