Public Employees Retirement System of Ohio Has $55.93 Million Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Public Employees Retirement System of Ohio reduced its position in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 373,869 shares of the real estate investment trust's stock after selling 6,407 shares during the period. Public Employees Retirement System of Ohio owned about 0.18% of Extra Space Storage worth $55,931,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in EXR. Golden State Wealth Management LLC purchased a new position in Extra Space Storage during the 4th quarter worth approximately $25,000. Harbour Investments Inc. boosted its position in shares of Extra Space Storage by 90.9% in the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock worth $25,000 after buying an additional 80 shares during the period. Quent Capital LLC boosted its position in shares of Extra Space Storage by 89.0% in the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust's stock worth $49,000 after buying an additional 154 shares during the period. Asset Planning Inc purchased a new position in shares of Extra Space Storage during the fourth quarter valued at $52,000. Finally, Quarry LP raised its position in Extra Space Storage by 156.1% during the fourth quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock valued at $53,000 after buying an additional 217 shares during the period. Institutional investors and hedge funds own 99.11% of the company's stock.

Insider Buying and Selling at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction on 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP William N. Springer sold 1,220 shares of the company's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $152.66, for a total transaction of $186,245.20. Following the transaction, the executive vice president now owns 20,158 shares of the company's stock, valued at approximately $3,077,320.28. The trade was a 5.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,392 shares of company stock worth $1,392,315 over the last ninety days. Company insiders own 0.96% of the company's stock.

Extra Space Storage Stock Down 0.5%

EXR opened at $144.66 on Friday. The firm has a market cap of $30.70 billion, a P/E ratio of 37.87, a price-to-earnings-growth ratio of 7.76 and a beta of 1.14. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The business has a 50 day moving average price of $143.29 and a 200 day moving average price of $151.68. Extra Space Storage Inc. has a twelve month low of $121.03 and a twelve month high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $820.00 million during 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%. Extra Space Storage's revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.96 earnings per share. Research analysts forecast 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 given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.48%. Extra Space Storage's dividend payout ratio is 150.35%.

Analysts Set New Price Targets

Several research firms have weighed in on EXR. Royal Bank of Canada lowered their target price on Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 1st. Scotiabank increased their target price on shares of Extra Space Storage from $149.00 to $166.00 and gave the stock a "sector outperform" rating in a research report on Monday, May 12th. Bank of America upped their price target on shares of Extra Space Storage from $155.00 to $161.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Barclays reduced their price objective on Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $158.46.

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.

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