Mutual of America Capital Management LLC Has $3.59 Million Stake in Extra Space Storage Inc $EXR

Key Points

• Mutual of America Capital Management LLC reduced its stake in Extra Space Storage Inc by 13.7%, owning 24,335 shares worth approximately $3.59 million as of the end of the latest reporting period.
• Analysts have set new price targets for Extra Space Storage, with consensus indicating a rating of "Hold" and an average price target of $148.64.
• Extra Space Storage declared a quarterly dividend of $1.62 per share, representing a yield of 4.3%, despite a payout ratio of 140.56%.

Mutual of America Capital Management LLC reduced its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 13.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,335 shares of the real estate investment trust's stock after selling 3,874 shares during the period. Mutual of America Capital Management LLC's holdings in Extra Space Storage were worth $3,588,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EXR. GKV Capital Management Co. Inc. acquired a new stake in Extra Space Storage in the 1st quarter valued at $29,000. Chung Wu Investment Group LLC acquired a new stake in Extra Space Storage in the 2nd quarter valued at $29,000. Zions Bancorporation National Association UT acquired a new stake in Extra Space Storage in the 1st quarter valued at $50,000. Golden State Wealth Management LLC increased its stake in Extra Space Storage by 147.0% in the 1st quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust's stock valued at $60,000 after buying an additional 241 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new stake in Extra Space Storage in the 2nd quarter valued at $75,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Scotiabank lowered their price target on shares of Extra Space Storage from $166.00 to $162.00 and set a "sector outperform" rating on the stock in a research note on Thursday, August 28th. Weiss Ratings reissued a "hold (c)" rating on shares of Extra Space Storage in a research report on Wednesday, October 8th. UBS Group dropped their target price on shares of Extra Space Storage from $169.00 to $160.00 and set a "buy" rating on the stock in a report on Tuesday, September 16th. Wells Fargo & Company upgraded Extra Space Storage from an "equal weight" rating to an "overweight" rating and set a $160.00 price target for the company in a report on Tuesday, August 26th. Finally, Truist Financial lowered their price target on Extra Space Storage from $158.00 to $150.00 and set a "hold" rating on the stock in a research report on Tuesday, August 19th. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $148.64.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $150.89 on Friday. The company has a market capitalization of $32.03 billion, a price-to-earnings ratio of 32.73, a PEG ratio of 2.74 and a beta of 1.11. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29. The company has a 50-day simple moving average of $143.42 and a 200 day simple moving average of $144.73. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $175.57.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.01). The company had revenue of $841.62 million for the quarter, compared to the consensus estimate of $719.43 million. Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.The business's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.06 EPS. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. On average, sell-side analysts predict that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.3%. Extra Space Storage's payout ratio is presently 140.56%.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $141.41, for a total transaction of $1,060,575.00. Following the completion of the sale, the chief executive officer owned 19,760 shares of the company's stock, valued at approximately $2,794,261.60. The trade was a 27.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.96% of the company's stock.

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.

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