Extra Space Storage Inc. (NYSE:EXR) Holdings Raised by Employees Retirement System of Texas

Employees Retirement System of Texas increased its stake in Extra Space Storage Inc. (NYSE:EXR) by 29.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,745 shares of the real estate investment trust’s stock after purchasing an additional 27,000 shares during the quarter. Employees Retirement System of Texas’ holdings in Extra Space Storage were worth $17,764,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new position in Extra Space Storage during the 4th quarter worth approximately $938,647,000. Massachusetts Financial Services Co. MA raised its position in Extra Space Storage by 3.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,064,970 shares of the real estate investment trust’s stock valued at $458,520,000 after buying an additional 104,986 shares during the period. Charles Schwab Investment Management Inc. raised its position in Extra Space Storage by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,409,330 shares of the real estate investment trust’s stock valued at $360,436,000 after buying an additional 43,223 shares during the period. Daiwa Securities Group Inc. boosted its position in Extra Space Storage by 5.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 2,127,067 shares of the real estate investment trust’s stock worth $318,209,000 after acquiring an additional 106,608 shares during the period. Finally, Boston Partners grew its stake in Extra Space Storage by 5.9% during the 4th quarter. Boston Partners now owns 1,466,816 shares of the real estate investment trust’s stock valued at $219,437,000 after acquiring an additional 82,104 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Activity

In related news, Director Joseph J. Bonner sold 672 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total value of $100,195.20. Following the sale, the director now owns 4,557 shares in the company, valued at approximately $679,448.70. This represents a 12.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William N. Springer sold 1,220 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $152.66, for a total transaction of $186,245.20. Following the completion of the transaction, the executive vice president now directly owns 20,158 shares in the company, valued at approximately $3,077,320.28. This represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,392 shares of company stock worth $1,392,315 in the last 90 days. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

Shares of NYSE:EXR opened at $138.05 on Monday. The stock has a market capitalization of $29.30 billion, a price-to-earnings ratio of 36.14, a price-to-earnings-growth ratio of 7.76 and a beta of 0.96. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The business’s fifty day moving average price is $151.74 and its two-hundred day moving average price is $158.72. Extra Space Storage Inc. has a fifty-two week low of $131.02 and a fifty-two week high of $184.87.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.93. The company had revenue of $821.90 million for the quarter, compared to analyst estimates 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, analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.69%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage’s payout ratio is presently 160.40%.

Analyst Ratings Changes

A number of analysts have recently issued reports on EXR shares. Barclays reduced their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. Wells Fargo & Company decreased their target price on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. Royal Bank of Canada dropped their price target on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Scotiabank lowered their target price on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $171.09.

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.