Thrivent Financial for Lutherans Lowers Position in Extra Space Storage Inc. (NYSE:EXR)

Thrivent Financial for Lutherans decreased its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 2.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 507,343 shares of the real estate investment trust’s stock after selling 14,656 shares during the period. Thrivent Financial for Lutherans owned about 0.24% of Extra Space Storage worth $78,846,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. EdgeRock Capital LLC purchased a new position in Extra Space Storage during the 2nd quarter worth $25,000. Creekmur Asset Management LLC purchased a new stake in shares of Extra Space Storage in the fourth quarter valued at about $26,000. Centerpoint Advisors LLC bought a new position in shares of Extra Space Storage during the second quarter valued at about $27,000. Blue Trust Inc. boosted its holdings in Extra Space Storage by 540.5% during the second quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 200 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its position in Extra Space Storage by 2,760.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 276 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on EXR shares. Truist Financial lifted their target price on shares of Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Barclays lifted their price target on Extra Space Storage from $158.00 to $188.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. KeyCorp upped their price objective on Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Scotiabank lifted their target price on 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. Finally, Jefferies Financial Group upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and increased their price target for the company from $162.00 to $204.00 in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Extra Space Storage currently has a consensus rating of “Hold” and a consensus price target of $170.93.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the completion of the transaction, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the sale, the chief executive officer now owns 31,690 shares of the company’s stock, valued at approximately $4,835,260.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth M. Woolley sold 6,647 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $177.23, for a total value of $1,178,047.81. Following the completion of the transaction, the director now 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. Insiders have sold 18,970 shares of company stock valued at $3,172,757 in the last 90 days. 1.36% of the stock is currently owned by company insiders.

Extra Space Storage Price Performance

EXR opened at $180.41 on Friday. The firm has a 50-day moving average price of $170.03 and a 200-day moving average price of $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 quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $38.20 billion, a price-to-earnings ratio of 40.18, a PEG ratio of 2.56 and a beta of 0.86.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a yield of 3.59%. Extra Space Storage’s dividend payout ratio is 144.32%.

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.