Kentucky Retirement Systems Insurance Trust Fund Sells 554 Shares of Extra Space Storage Inc. (NYSE:EXR)

Kentucky Retirement Systems Insurance Trust Fund lessened its holdings in Extra Space Storage Inc. (NYSE:EXR) by 8.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 6,275 shares of the real estate investment trust’s stock after selling 554 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Extra Space Storage were worth $1,131,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. EdgeRock Capital LLC purchased a new stake in Extra Space Storage during the second quarter valued at approximately $25,000. Centerpoint Advisors LLC bought a new stake in shares of Extra Space Storage during the 2nd quarter valued at $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Extra Space Storage in the 3rd quarter worth $33,000. Blue Trust Inc. raised its holdings in Extra Space Storage by 540.5% in the 2nd 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 period. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in Extra Space Storage by 2,760.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 276 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

EXR has been the subject of a number of analyst reports. Evercore ISI reduced 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 report on Monday, October 14th. Scotiabank raised their target price on shares of 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. Raymond James upped their price target on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Finally, Truist Financial lifted their target price on shares of Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Extra Space Storage has an average rating of “Hold” and a consensus price target of $171.50.

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the completion of the transaction, the chief executive officer now owns 24,190 shares in the company, valued at approximately $4,318,398.80. This trade represents a 23.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 value 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 trade was a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,970 shares of company stock worth $3,367,307 in the last three months. Insiders own 1.36% of the company’s stock.

Extra Space Storage Price Performance

NYSE:EXR opened at $164.56 on Monday. The business’s 50-day moving average is $171.50 and its 200 day moving average is $162.65. Extra Space Storage Inc. has a 12 month low of $125.32 and a 12 month high of $184.87. The company has a market capitalization of $34.88 billion, a P/E ratio of 43.08, a P/E/G ratio of 8.29 and a beta of 0.87. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.12). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm had revenue of $824.80 million for the quarter, compared to analysts’ expectations of $826.93 million. During the same period last year, the company earned $2.02 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. On average, equities research analysts forecast that Extra Space Storage Inc. will post 8.09 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.94%. Extra Space Storage’s payout ratio is currently 169.63%.

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.