Teacher Retirement System of Texas Sells 17,800 Shares of Extra Space Storage Inc (NYSE:EXR)

Teacher Retirement System of Texas trimmed its holdings in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 31.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,397 shares of the real estate investment trust's stock after selling 17,800 shares during the period. Teacher Retirement System of Texas' holdings in Extra Space Storage were worth $5,850,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp boosted its position in Extra Space Storage by 20.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,109 shares of the real estate investment trust's stock worth $166,000 after acquiring an additional 185 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Extra Space Storage by 8.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,315 shares of the real estate investment trust's stock valued at $1,094,000 after purchasing an additional 600 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Extra Space Storage in the 4th quarter valued at $25,090,000. Raymond James Financial Inc. acquired a new position in shares of Extra Space Storage in the 4th quarter valued at $46,120,000. Finally, Inceptionr LLC acquired a new position in shares of Extra Space Storage in the 4th quarter valued at $463,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the completion of the transaction, the chief executive officer owned 27,260 shares in the company, valued at $4,098,541. This trade represents a 21.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.96% of the stock is currently owned by company insiders.

Extra Space Storage Price Performance

Shares of EXR traded up $0.12 during trading hours on Tuesday, hitting $149.11. 36,793 shares of the company were exchanged, compared to its average volume of 1,061,435. The company has a market capitalization of $31.64 billion, a PE ratio of 34.53, a PEG ratio of 3.71 and a beta of 1.10. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.33 and a quick ratio of 0.33. The firm has a fifty day simple moving average of $148.64 and a 200-day simple moving average of $148.37. Extra Space Storage Inc has a one year low of $121.03 and a one year high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced 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 analyst estimates of $705.12 million. During the same period last year, the company earned $1.96 earnings per share. Extra Space Storage's quarterly revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts predict that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date was Monday, June 16th. Extra Space Storage's dividend payout ratio (DPR) is presently 150.35%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Evercore ISI lifted their target price on shares of Extra Space Storage from $144.00 to $149.00 and gave the company an "in-line" rating in a report on Thursday, May 1st. BNP Paribas upgraded shares of Extra Space Storage to a "hold" rating in a report on Tuesday, June 24th. Scotiabank lifted 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. BNP Paribas Exane assumed coverage on shares of Extra Space Storage in a report on Tuesday, June 24th. They set a "neutral" rating and a $156.00 target price on the stock. Finally, Barclays reduced their target price on shares of Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price 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.