Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its position in Extra Space Storage Inc. (NYSE:EXR) by 3.1% during the second quarter, HoldingsChannel.com reports. The fund owned 31,029 shares of the real estate investment trust’s stock after selling 1,001 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Extra Space Storage were worth $4,822,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new position in Extra Space Storage during the fourth quarter worth about $3,304,000. State of Tennessee Treasury Department raised its position in shares of Extra Space Storage by 252.1% during the 4th quarter. State of Tennessee Treasury Department now owns 114,819 shares of the real estate investment trust’s stock worth $18,409,000 after purchasing an additional 82,207 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Extra Space Storage by 19.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 247,203 shares of the real estate investment trust’s stock valued at $36,307,000 after buying an additional 40,055 shares in the last quarter. Norden Group LLC purchased a new stake in Extra Space Storage in the 1st quarter valued at approximately $1,947,000. Finally, Gateway Investment Advisers LLC acquired a new stake in Extra Space Storage during the 2nd quarter valued at $16,026,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. KeyCorp boosted their price target on Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Scotiabank raised their price target on shares of Extra Space Storage from $159.00 to $169.00 and gave the stock a “sector underperform” rating in a research note on Thursday, August 22nd. Truist Financial boosted their price objective on shares of Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Finally, Raymond James upped their price objective on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $170.93.

Insider Buying and Selling

In other Extra Space Storage news, Director Kenneth M. Woolley sold 6,647 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $177.23, for a total transaction of $1,178,047.81. Following the completion of the sale, the director now directly owns 404,306 shares in the company, valued at $71,655,152.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP William N. Springer sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total transaction of $350,660.00. Following the transaction, the executive vice president now directly owns 11,919 shares of the company’s stock, valued at approximately $2,089,758.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kenneth M. Woolley sold 6,647 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $177.23, for a total transaction of $1,178,047.81. Following the completion of the sale, the director now directly owns 404,306 shares of the company’s stock, valued at approximately $71,655,152.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,970 shares of company stock valued at $3,172,757. 1.36% of the stock is currently owned by corporate insiders.

Extra Space Storage Price Performance

Shares of Extra Space Storage stock opened at $180.41 on Friday. The business’s fifty day moving average price is $170.03 and its 200 day moving average price is $154.77. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $184.87. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $38.20 billion, a P/E ratio of 40.18, a PEG ratio of 2.56 and a beta of 0.86.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders 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 dividend yield of 3.59%. The ex-dividend date of this dividend is Monday, September 16th. Extra Space Storage’s payout ratio is currently 144.32%.

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.