Thrivent Financial for Lutherans trimmed its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 9.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 461,830 shares of the real estate investment trust's stock after selling 45,513 shares during the quarter. Thrivent Financial for Lutherans owned 0.22% of Extra Space Storage worth $83,217,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in EXR. QRG Capital Management Inc. raised its holdings in Extra Space Storage by 5.2% during the 1st quarter. QRG Capital Management Inc. now owns 1,588 shares of the real estate investment trust's stock valued at $233,000 after buying an additional 78 shares during the last quarter. Intech Investment Management LLC increased its stake in Extra Space Storage by 138.7% during the 1st quarter. Intech Investment Management LLC now owns 5,405 shares of the real estate investment trust's stock valued at $795,000 after purchasing an additional 3,141 shares in the last quarter. Covestor Ltd increased its stake in Extra Space Storage by 67.7% during the 1st quarter. Covestor Ltd now owns 592 shares of the real estate investment trust's stock valued at $87,000 after purchasing an additional 239 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of Extra Space Storage by 36.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,004 shares of the real estate investment trust's stock valued at $1,030,000 after acquiring an additional 1,875 shares during the last quarter. Finally, UniSuper Management Pty Ltd boosted its holdings in shares of Extra Space Storage by 1.4% during the 1st quarter. UniSuper Management Pty Ltd now owns 68,813 shares of the real estate investment trust's stock valued at $10,116,000 after acquiring an additional 972 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the business's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $177.01, for a total transaction of $499,699.23. Following the transaction, the executive vice president now owns 32,855 shares in the company, valued at $5,815,663.55. The trade was a 7.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the completion of the sale, the chief executive officer now directly owns 24,190 shares of the company's stock, valued at approximately $4,318,398.80. This trade represents a 23.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,970 shares of company stock worth $3,367,307. Insiders own 1.36% of the company's stock.
Extra Space Storage Price Performance
Shares of Extra Space Storage stock traded up $0.23 on Monday, hitting $164.79. 769,779 shares of the company traded hands, compared to its average volume of 1,036,307. The stock has a market capitalization of $34.93 billion, a P/E ratio of 43.08, a price-to-earnings-growth ratio of 8.29 and a beta of 0.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. Extra Space Storage Inc. has a 52 week low of $125.32 and a 52 week high of $184.87. The business has a 50-day simple moving average of $171.50 and a 200 day simple moving average of $162.82.
Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.12). Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company had revenue of $824.80 million for the quarter, compared to the consensus estimate of $826.93 million. During the same quarter in the previous year, the business earned $2.02 EPS. The company's quarterly revenue was up 10.2% on a year-over-year basis. Research analysts expect that Extra Space Storage Inc. will post 8.09 earnings per share for the current fiscal year.
Extra Space Storage Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.93%. The ex-dividend date is Monday, December 16th. Extra Space Storage's dividend payout ratio is presently 169.63%.
Analyst Ratings Changes
A number of equities analysts recently issued reports on EXR shares. Jefferies Financial Group raised shares of Extra Space Storage from a "hold" rating to a "buy" rating and raised their price objective for the stock from $162.00 to $204.00 in a report on Wednesday, September 18th. Truist Financial raised their price objective on shares of Extra Space Storage from $152.00 to $167.00 and gave the stock a "hold" rating in a report on Friday, August 16th. Evercore ISI dropped their price objective on shares of Extra Space Storage from $170.00 to $168.00 and set an "in-line" rating on the stock in a report on Monday, October 14th. Bank of America downgraded shares of 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 report on Monday, August 5th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and set a $175.00 price target on shares of Extra Space Storage in a report on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $171.50.
View Our Latest Report on EXR
Extra Space Storage Company 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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