American International Group Inc. Sells 1,261 Shares of Extra Space Storage Inc. (NYSE:EXR)

American International Group Inc. reduced its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 2.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 55,385 shares of the real estate investment trust’s stock after selling 1,261 shares during the period. American International Group Inc.’s holdings in Extra Space Storage were worth $8,880,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. EdgeRock Capital LLC bought a new stake in shares of Extra Space Storage during the 4th quarter worth $26,000. Anchor Investment Management LLC purchased a new position in Extra Space Storage in the 4th quarter worth $35,000. Bruce G. Allen Investments LLC purchased a new position in Extra Space Storage in the 4th quarter worth $41,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in Extra Space Storage by 200.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 300 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 200 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new position in Extra Space Storage in the 4th quarter worth $57,000. 99.11% of the stock is owned by institutional investors.

Insider Activity at Extra Space Storage

In related news, Director Joseph J. Bonner sold 677 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $148.22, for a total transaction of $100,344.94. Following the transaction, the director now owns 5,229 shares in the company, valued at $775,042.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.36% of the stock is owned by corporate insiders.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $159.27 on Wednesday. Extra Space Storage Inc. has a 1 year low of $101.19 and a 1 year high of $164.99. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.15 and a quick ratio of 0.15. The company’s 50-day moving average is $143.92 and its 200 day moving average is $145.83. The stock has a market capitalization of $33.72 billion, a P/E ratio of 35.47, a P/E/G ratio of 3.76 and a beta of 0.81.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.07%. The ex-dividend date is Friday, June 14th. Extra Space Storage’s dividend payout ratio is currently 144.32%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on EXR shares. Citigroup decreased their target price on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. Evercore ISI decreased their target price on shares of Extra Space Storage from $145.00 to $139.00 in a research report on Wednesday, May 1st. Wells Fargo & Company boosted their price objective on shares of Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Finally, Barclays boosted their price objective on shares of Extra Space Storage from $157.00 to $158.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Extra Space Storage currently has a consensus rating of “Hold” and a consensus price target of $151.83.

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.