Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Liberty Mutual Group Asset Management Inc.

Liberty Mutual Group Asset Management Inc. trimmed its holdings in Extra Space Storage Inc. (NYSE:EXR) by 18.8% in the second quarter, Holdings Channel.com reports. The fund owned 41,622 shares of the real estate investment trust’s stock after selling 9,652 shares during the period. Extra Space Storage comprises 1.0% of Liberty Mutual Group Asset Management Inc.’s portfolio, making the stock its 11th biggest holding. Liberty Mutual Group Asset Management Inc.’s holdings in Extra Space Storage were worth $6,468,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Lighthouse Investment Partners LLC acquired a new stake in shares of Extra Space Storage during the second quarter worth $6,605,000. Millennium Management LLC lifted its stake in Extra Space Storage by 42.8% during the second quarter. Millennium Management LLC now owns 505,208 shares of the real estate investment trust’s stock valued at $78,514,000 after buying an additional 151,368 shares in the last quarter. MBB Public Markets I LLC acquired a new position in shares of Extra Space Storage in the second quarter worth about $2,358,000. Element Pointe Advisors LLC purchased a new position in shares of Extra Space Storage in the second quarter worth approximately $202,000. Finally, Employees Retirement System of Texas raised its holdings in shares of Extra Space Storage by 10.7% during the second quarter. Employees Retirement System of Texas now owns 92,745 shares of the real estate investment trust’s stock valued at $14,414,000 after acquiring an additional 9,000 shares during the period. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Down 2.6 %

Shares of EXR stock opened at $176.61 on Friday. The stock’s 50 day simple moving average is $171.06 and its 200 day simple moving average is $155.51. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $184.87. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.20 and a current ratio of 0.20. The company has a market capitalization of $37.39 billion, a price-to-earnings ratio of 39.33, a PEG ratio of 2.67 and a beta of 0.86.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Monday, September 16th. Extra Space Storage’s payout ratio is 144.32%.

Insider Buying and Selling

In related news, CEO Joseph D. Margolis sold 7,500 shares of the 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 sale, the chief executive officer now owns 31,690 shares in the company, valued at approximately $4,835,260.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $177.01, for a total transaction of $499,699.23. Following the completion of the transaction, the executive vice president now owns 32,855 shares of the company’s stock, valued at $5,815,663.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the sale, the chief executive officer now directly owns 31,690 shares in the company, valued at $4,835,260.20. The disclosure for this sale can be found here. In the last three months, insiders sold 18,970 shares of company stock valued at $3,172,757. Company insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on EXR shares. KeyCorp lifted their price objective on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Wells Fargo & Company increased their price objective on Extra Space Storage from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Truist Financial increased their price target on shares of Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Finally, Jefferies Financial Group raised shares of Extra Space Storage from a “hold” rating to a “buy” rating and boosted their price objective for the company from $162.00 to $204.00 in a research report on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Extra Space Storage has a consensus rating of “Hold” and an average target price of $170.93.

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.