Employees Retirement System of Texas Buys 27,000 Shares of Extra Space Storage Inc. (NYSE:EXR)

Employees Retirement System of Texas lifted its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 29.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm 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 owned about 0.06% of Extra Space Storage worth $17,764,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund raised its position in shares of Extra Space Storage by 0.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,160 shares of the real estate investment trust's stock valued at $2,717,000 after purchasing an additional 66 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of Extra Space Storage by 14.9% during the 4th quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust's stock worth $78,000 after buying an additional 68 shares during the period. Aptus Capital Advisors LLC grew its stake in Extra Space Storage by 4.3% in the 4th quarter. Aptus Capital Advisors LLC now owns 1,638 shares of the real estate investment trust's stock valued at $245,000 after buying an additional 68 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in Extra Space Storage by 5.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,327 shares of the real estate investment trust's stock valued at $199,000 after acquiring an additional 73 shares during the period. Finally, Checchi Capital Advisers LLC raised its holdings in Extra Space Storage by 2.2% in the 4th quarter. Checchi Capital Advisers LLC now owns 3,449 shares of the real estate investment trust's stock valued at $516,000 after acquiring an additional 75 shares during the period. Institutional investors own 99.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on EXR shares. Wells Fargo & Company decreased their target price 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. Scotiabank boosted their price target on Extra Space Storage from $149.00 to $166.00 and gave the company a "sector outperform" rating in a research note on Monday, May 12th. Barclays decreased their price objective on Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Wall Street Zen raised Extra Space Storage from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th. Finally, Benchmark reduced their price objective on shares of Extra Space Storage from $61.00 to $55.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $159.38.

Insider Activity at Extra Space Storage

In other news, Director Joseph J. Bonner sold 672 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $149.10, for a total value of $100,195.20. Following the transaction, the director now directly owns 4,557 shares of the company's stock, valued at $679,448.70. The trade was a 12.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total value of $1,105,875.00. Following the sale, the chief executive officer now owns 9,190 shares in the company, valued at approximately $1,355,065.50. The trade was a 44.94% decrease in their position. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by company insiders.

Extra Space Storage Price Performance

NYSE:EXR traded up $0.08 on Friday, hitting $150.89. The company had a trading volume of 1,450,370 shares, compared to its average volume of 1,061,043. The firm has a 50 day moving average of $143.60 and a two-hundred day moving average of $151.00. The stock has a market capitalization of $32.02 billion, a price-to-earnings ratio of 39.50, a PEG ratio of 7.76 and a beta of 1.14. 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 Inc. has a 52 week low of $121.03 and a 52 week high of $184.87.

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. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm had revenue of $820.00 million for the quarter, compared to analyst estimates of $705.12 million. During the same period in the previous year, the firm posted $1.96 EPS. The company's revenue for the quarter was up 2.6% compared to the same quarter last year. On average, research analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend is Monday, June 16th. Extra Space Storage's dividend payout ratio is currently 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.