Extra Space Storage Inc. (NYSE:EXR) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its position in Extra Space Storage Inc. (NYSE:EXR) by 84.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,197 shares of the real estate investment trust’s stock after buying an additional 26,142 shares during the quarter. Teacher Retirement System of Texas’ holdings in Extra Space Storage were worth $8,557,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in shares of Extra Space Storage in the 4th quarter valued at $25,000. Harbour Investments Inc. raised its holdings 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. Harvest Fund Management Co. Ltd purchased a new stake in shares of Extra Space Storage in the 3rd quarter valued at $42,000. Quent Capital LLC raised its holdings in shares of Extra Space Storage by 89.0% in the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 154 shares during the period. Finally, Asset Planning Inc purchased a new stake in shares of Extra Space Storage in the 4th quarter valued at $52,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Down 1.3 %

EXR opened at $143.92 on Friday. 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 has a 50 day simple moving average of $152.76 and a 200-day simple moving average of $161.05. The stock has a market capitalization of $30.51 billion, a P/E ratio of 37.67, a P/E/G ratio of 7.76 and a beta of 0.90. Extra Space Storage Inc. has a 12 month low of $131.02 and a 12 month high of $184.87.

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

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s payout ratio is currently 160.40%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on EXR shares. Wells Fargo & Company cut their price target on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. Truist Financial upped their price target on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Scotiabank cut their price target on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 5th. Barclays dropped their price objective on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. Finally, Royal Bank of Canada dropped their price objective on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Extra Space Storage currently has a consensus rating of “Hold” and an average target price of $171.09.

Insider Activity at Extra Space Storage

In related news, EVP William N. Springer sold 1,220 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the completion of the transaction, the executive vice president now directly owns 20,158 shares of the company’s stock, valued at $3,077,320.28. This trade represents a 5.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,392 shares of company stock valued at $1,396,515 in the last ninety days. Corporate insiders own 1.36% of the company’s stock.

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.