American Century Companies Inc. Has $61.72 Million Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

American Century Companies Inc. lifted its stake in Extra Space Storage Inc. (NYSE:EXR) by 543.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 397,170 shares of the real estate investment trust’s stock after acquiring an additional 335,447 shares during the quarter. American Century Companies Inc. owned approximately 0.19% of Extra Space Storage worth $61,724,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. QRG Capital Management Inc. acquired a new position in Extra Space Storage during the fourth quarter worth $242,000. Beacon Pointe Advisors LLC lifted its holdings in Extra Space Storage by 21.2% in the 4th quarter. Beacon Pointe Advisors LLC now owns 2,130 shares of the real estate investment trust’s stock worth $341,000 after purchasing an additional 373 shares during the last quarter. Financial Advocates Investment Management bought a new stake in Extra Space Storage during the fourth quarter worth approximately $301,000. Brown Advisory Inc. grew its holdings in Extra Space Storage by 5.4% during the fourth quarter. Brown Advisory Inc. now owns 4,336 shares of the real estate investment trust’s stock valued at $695,000 after purchasing an additional 221 shares during the last quarter. Finally, Main Street Financial Solutions LLC bought a new position in shares of Extra Space Storage in the fourth quarter valued at approximately $328,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on EXR shares. Citigroup decreased their price objective 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. Bank of America lowered Extra Space Storage from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $172.00 to $155.00 in a research note on Monday, August 5th. Truist Financial increased their target price on Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Evercore ISI lifted their price target on Extra Space Storage from $166.00 to $167.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Finally, Scotiabank increased their price objective on Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Extra Space Storage has a consensus rating of “Hold” and an average price target of $168.36.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm’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 completion of the transaction, the chief executive officer now owns 31,690 shares in the company, valued at approximately $4,835,260.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total transaction of $350,660.00. Following the sale, the executive vice president now directly owns 11,919 shares of the company’s stock, valued at $2,089,758.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’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 sale, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at approximately $4,835,260.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,323 shares of company stock worth $1,994,709. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Price Performance

Shares of Extra Space Storage stock opened at $177.90 on Monday. The firm has a market cap of $37.70 billion, a P/E ratio of 39.62, a price-to-earnings-growth ratio of 2.56 and a beta of 0.86. The firm’s 50-day simple moving average is $167.71 and its 200-day simple moving average is $153.58. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $179.23. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.20 and a current ratio of 0.20.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Monday, September 16th. Extra Space Storage’s payout ratio is 144.32%.

Extra Space Storage Company 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.