Kentucky Retirement Systems Insurance Trust Fund Makes New Investment in Extra Space Storage Inc (NYSE:EXR)

Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,081 shares of the real estate investment trust's stock, valued at approximately $903,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. D.A. Davidson & CO. raised its stake in Extra Space Storage by 23.8% in the 4th quarter. D.A. Davidson & CO. now owns 1,768 shares of the real estate investment trust's stock valued at $264,000 after purchasing an additional 340 shares during the last quarter. Ieq Capital LLC lifted its stake in Extra Space Storage by 59.1% in the 4th quarter. Ieq Capital LLC now owns 9,622 shares of the real estate investment trust's stock worth $1,439,000 after purchasing an additional 3,576 shares in the last quarter. Allianz Asset Management GmbH grew its position in shares of Extra Space Storage by 0.7% in the fourth quarter. Allianz Asset Management GmbH now owns 168,623 shares of the real estate investment trust's stock valued at $25,226,000 after purchasing an additional 1,143 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Extra Space Storage by 8.2% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 40,956 shares of the real estate investment trust's stock valued at $6,127,000 after purchasing an additional 3,100 shares during the last quarter. Finally, Brown Financial Advisors boosted its stake in Extra Space Storage by 5.8% during the fourth quarter. Brown Financial Advisors now owns 9,666 shares of the real estate investment trust's stock worth $1,446,000 after buying an additional 532 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company's stock.

Extra Space Storage Stock Down 0.3%

Shares of NYSE:EXR traded down $0.40 during trading hours on Tuesday, reaching $148.57. The stock had a trading volume of 1,224,405 shares, compared to its average volume of 1,055,362. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $184.87. The firm's 50 day moving average is $147.15 and its 200-day moving average is $148.78. The stock has a market capitalization of $31.53 billion, a price-to-earnings ratio of 34.47, a P/E/G ratio of 3.62 and a beta of 1.11. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.33 and a current ratio of 0.33.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.04. Extra Space Storage had a return on equity of 6.11% and a net margin of 27.84%. The business had revenue of $820.00 million during the quarter, compared to analysts' expectations of $705.12 million. During the same period in the prior year, the firm posted $1.96 EPS. The business's quarterly revenue was up 2.6% compared to the same quarter last year. Research analysts predict 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, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend is Monday, June 16th. Extra Space Storage's payout ratio is 150.35%.

Insider Transactions at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction on 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 completion of the sale, the chief executive officer now owns 9,190 shares in the company, valued at approximately $1,355,065.50. This trade represents a 44.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.36% of the company's stock.

Analysts Set New Price Targets

EXR has been the topic of several recent analyst reports. Scotiabank boosted their target price on shares of Extra Space Storage from $149.00 to $166.00 and gave the company a "sector outperform" rating in a report on Monday, May 12th. Bank of America lifted their target price on Extra Space Storage from $155.00 to $161.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Barclays decreased their price target on Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. 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 report on Tuesday, May 13th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $159.29.

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.