Mather Group LLC. Sells 111 Shares of Extra Space Storage Inc. (NYSE:EXR)

Mather Group LLC. trimmed its stake in Extra Space Storage Inc. (NYSE:EXR) by 3.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,489 shares of the real estate investment trust’s stock after selling 111 shares during the quarter. Mather Group LLC.’s holdings in Extra Space Storage were worth $522,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in EXR. Czech National Bank boosted its holdings in Extra Space Storage by 7.0% in the third quarter. Czech National Bank now owns 43,172 shares of the real estate investment trust’s stock worth $7,779,000 after acquiring an additional 2,826 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Extra Space Storage by 32.0% in the third quarter. GAMMA Investing LLC now owns 2,738 shares of the real estate investment trust’s stock worth $493,000 after acquiring an additional 664 shares in the last quarter. Atomi Financial Group Inc. purchased a new position in shares of Extra Space Storage in the third quarter worth $246,000. Wedmont Private Capital raised its stake in shares of Extra Space Storage by 17.7% in the third quarter. Wedmont Private Capital now owns 1,951 shares of the real estate investment trust’s stock worth $330,000 after purchasing an additional 294 shares during the last quarter. Finally, BSN CAPITAL PARTNERS Ltd purchased a new position in shares of Extra Space Storage in the third quarter worth $14,544,000. 99.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Scotiabank upgraded Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price target for the company in a research note on Friday, January 10th. Evercore ISI decreased their price target on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. StockNews.com upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Barclays decreased their price target on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, Truist Financial boosted their price target on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Extra Space Storage presently has an average rating of “Hold” and a consensus target price of $174.00.

Extra Space Storage Stock Performance

Shares of EXR opened at $155.00 on Thursday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The business has a 50-day simple moving average of $154.06 and a two-hundred day simple moving average of $164.39. The stock has a market cap of $32.86 billion, a price-to-earnings ratio of 40.58, a PEG ratio of 7.67 and a beta of 0.91. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date was Monday, December 16th. Extra Space Storage’s payout ratio is 169.63%.

Insiders Place Their Bets

In other news, Director Diane Olmstead sold 3,081 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $164.56, for a total value of $507,009.36. Following the completion of the transaction, the director now owns 5,877 shares of the company’s stock, valued at $967,119.12. This represents a 34.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the transaction, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.36% of the company’s stock.

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.