Thrivent Financial for Lutherans Has $67.76 Million Stake in Extra Space Storage Inc. (NYSE:EXR)

Thrivent Financial for Lutherans trimmed its stake in Extra Space Storage Inc. (NYSE:EXR) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 452,959 shares of the real estate investment trust’s stock after selling 8,871 shares during the period. Thrivent Financial for Lutherans owned about 0.21% of Extra Space Storage worth $67,763,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. RD Lewis Holdings Inc. acquired a new stake in shares of Extra Space Storage in the 4th quarter valued at about $1,893,000. Signaturefd LLC grew its stake in shares of Extra Space Storage by 19.4% in the 4th quarter. Signaturefd LLC now owns 1,045 shares of the real estate investment trust’s stock valued at $156,000 after buying an additional 170 shares during the period. Harbour Investments Inc. grew its stake in shares of Extra Space Storage by 90.9% in the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 80 shares during the period. Corient Private Wealth LLC grew its stake in shares of Extra Space Storage by 4.2% in the 4th quarter. Corient Private Wealth LLC now owns 10,382 shares of the real estate investment trust’s stock valued at $1,553,000 after buying an additional 420 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its position in Extra Space Storage by 33.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 12,555 shares of the real estate investment trust’s stock valued at $1,878,000 after acquiring an additional 3,117 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EXR has been the topic of several recent research reports. Truist Financial raised their price target on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Wells Fargo & Company dropped their target price on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Barclays dropped their target price on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $171.09.

Extra Space Storage Stock Performance

NYSE EXR opened at $147.85 on Wednesday. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The company has a market capitalization of $31.34 billion, a P/E ratio of 38.70, a P/E/G ratio of 7.76 and a beta of 0.90. The company has a fifty day moving average of $152.88 and a 200-day moving average of $161.60.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.93. The business had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. As a group, equities research analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s dividend payout ratio is currently 160.40%.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the transaction, the chief executive officer now owns 16,690 shares in the company, valued at $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph J. Bonner sold 672 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $149.10, for a total transaction of $100,195.20. Following the transaction, the director now owns 4,557 shares in the company, valued at $679,448.70. This represents a 12.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,392 shares of company stock worth $1,396,515 over the last 90 days. 1.36% of the stock is owned by company insiders.

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.