California State Teachers Retirement System Decreases Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

California State Teachers Retirement System lessened its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 325,103 shares of the real estate investment trust's stock after selling 18,974 shares during the period. California State Teachers Retirement System owned approximately 0.15% of Extra Space Storage worth $48,635,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of EXR. Oregon Public Employees Retirement Fund raised its position in shares of Extra Space Storage by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,160 shares of the real estate investment trust's stock worth $2,717,000 after acquiring an additional 66 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Extra Space Storage by 14.9% in the 4th quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust's stock valued at $78,000 after buying an additional 68 shares during the period. Aptus Capital Advisors LLC raised its holdings in Extra Space Storage by 4.3% during the fourth quarter. Aptus Capital Advisors LLC now owns 1,638 shares of the real estate investment trust's stock worth $245,000 after purchasing an additional 68 shares during the last quarter. Siemens Fonds Invest GmbH raised its holdings in Extra Space Storage by 3.0% during the fourth quarter. Siemens Fonds Invest GmbH now owns 2,320 shares of the real estate investment trust's stock worth $342,000 after purchasing an additional 68 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in Extra Space Storage by 5.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,327 shares of the real estate investment trust's stock worth $199,000 after purchasing an additional 73 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on EXR shares. Benchmark lowered their price target on Extra Space Storage from $61.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Bank of America increased their target price on Extra Space Storage from $155.00 to $161.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Royal Bank of Canada dropped their price target on Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 1st. Scotiabank lifted their price target on Extra Space Storage from $149.00 to $166.00 and gave the company a "sector outperform" rating in a research report on Monday, May 12th. Finally, Wells Fargo & Company lowered their price target on 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. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $159.38.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the sale, the chief executive officer now owns 9,190 shares of the company's stock, valued at approximately $1,355,065.50. The trade was a 44.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph J. Bonner sold 672 shares of Extra Space Storage 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 directly owns 4,557 shares of the company's stock, valued at approximately $679,448.70. This trade represents a 12.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.96% of the company's stock.

Extra Space Storage Stock Performance

Shares of EXR traded up $0.08 during mid-day trading on Friday, hitting $150.89. 1,450,370 shares of the company's stock were exchanged, compared to its average volume of 1,061,043. Extra Space Storage Inc. has a 52 week low of $121.03 and a 52 week high of $184.87. The stock's 50-day simple moving average is $143.60 and its 200-day simple moving average is $151.00. The firm has a market cap of $32.02 billion, a price-to-earnings ratio of 39.50, a price-to-earnings-growth ratio of 7.76 and a beta of 1.14. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.04. The firm had revenue of $820.00 million for the quarter, compared to analysts' expectations of $705.12 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company's revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.96 earnings per share. On average, equities research analysts expect that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.29%. The ex-dividend date is Monday, June 16th. Extra Space Storage's dividend payout ratio is presently 150.35%.

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.