Amalgamated Bank Sells 1,209 Shares of Extra Space Storage Inc. (NYSE:EXR)

Amalgamated Bank decreased its holdings in Extra Space Storage Inc. (NYSE:EXR) by 2.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,671 shares of the real estate investment trust’s stock after selling 1,209 shares during the quarter. Amalgamated Bank’s holdings in Extra Space Storage were worth $6,632,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in EXR. GSA Capital Partners LLP purchased a new position in shares of Extra Space Storage during the 4th quarter worth $3,304,000. State of Tennessee Treasury Department grew its holdings in Extra Space Storage by 252.1% during the fourth quarter. State of Tennessee Treasury Department now owns 114,819 shares of the real estate investment trust’s stock valued at $18,409,000 after purchasing an additional 82,207 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in Extra Space Storage by 19.3% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 247,203 shares of the real estate investment trust’s stock worth $36,307,000 after buying an additional 40,055 shares in the last quarter. Norden Group LLC bought a new position in shares of Extra Space Storage in the first quarter worth about $1,947,000. Finally, Gateway Investment Advisers LLC purchased a new position in shares of Extra Space Storage during the 2nd quarter valued at about $16,026,000. 99.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on EXR shares. StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Raymond James lifted their target price 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. Jefferies Financial Group upgraded Extra Space Storage from a “hold” rating to a “buy” rating and increased their price target for the stock from $162.00 to $204.00 in a research note on Wednesday. Citigroup lowered their price objective on 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. Finally, Royal Bank of Canada began coverage on Extra Space Storage in a research report on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 target price for the company. 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $170.93.

Insider Buying and Selling

In other Extra Space Storage news, Director Kenneth M. Woolley sold 6,647 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $177.23, for a total transaction of $1,178,047.81. Following the sale, the director now directly owns 404,306 shares in the company, valued at $71,655,152.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Kenneth M. Woolley sold 6,647 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $177.23, for a total transaction of $1,178,047.81. Following the transaction, the director now owns 404,306 shares of the company’s stock, valued at approximately $71,655,152.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Monday, July 1st. The shares were 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 owns 31,690 shares in the company, valued at approximately $4,835,260.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,970 shares of company stock worth $3,172,757. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $180.09 on Friday. Extra Space Storage Inc. has a 52-week low of $101.19 and a 52-week high of $184.87. The company has a market cap of $38.13 billion, a price-to-earnings ratio of 40.11, a PEG ratio of 2.56 and a beta of 0.86. The firm’s fifty day moving average is $169.66 and its 200 day moving average is $154.46. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.76.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Monday, September 16th. Extra Space Storage’s payout ratio is 144.32%.

Extra Space Storage 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.