Extra Space Storage Inc (NYSE:EXR) Stock Holdings Lessened by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 31.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,397 shares of the real estate investment trust's stock after selling 17,800 shares during the quarter. Teacher Retirement System of Texas' holdings in Extra Space Storage were worth $5,850,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Moody Lynn & Lieberson LLC grew its holdings in Extra Space Storage by 0.7% in the first quarter. Moody Lynn & Lieberson LLC now owns 28,170 shares of the real estate investment trust's stock valued at $4,183,000 after purchasing an additional 187 shares during the period. Keybank National Association OH grew its stake in shares of Extra Space Storage by 7.1% during the 1st quarter. Keybank National Association OH now owns 12,109 shares of the real estate investment trust's stock valued at $1,798,000 after buying an additional 804 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Extra Space Storage by 5.2% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 70,700 shares of the real estate investment trust's stock valued at $10,498,000 after buying an additional 3,504 shares during the period. Astoria Portfolio Advisors LLC. purchased a new stake in Extra Space Storage during the first quarter valued at about $202,000. Finally, Mather Group LLC. grew its position in Extra Space Storage by 3.0% during the first quarter. Mather Group LLC. now owns 3,594 shares of the real estate investment trust's stock valued at $534,000 after acquiring an additional 105 shares during the period. Hedge funds and other institutional investors own 99.11% of the company's stock.

Insider Activity at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the 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 transaction, the chief executive officer owned 27,260 shares of the company's stock, valued at approximately $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 SEC, which is accessible through this hyperlink. Insiders own 0.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on EXR shares. Scotiabank boosted their target price on Extra Space Storage from $149.00 to $166.00 and gave the stock a "sector outperform" rating in a report on Monday, May 12th. Benchmark decreased their target price on Extra Space Storage from $61.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Wall Street Zen upgraded shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Wednesday, April 30th. Mizuho boosted their price objective on shares of Extra Space Storage from $141.00 to $153.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 28th. Finally, JPMorgan Chase & Co. upped their price target on shares of Extra Space Storage from $160.00 to $162.00 and gave the stock a "neutral" rating in a research report on Friday, June 13th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Extra Space Storage has an average rating of "Hold" and a consensus price target of $159.29.

Extra Space Storage Stock Up 0.1%

EXR traded up $0.14 on Thursday, reaching $148.85. The company's stock had a trading volume of 1,052,819 shares, compared to its average volume of 1,068,283. The stock has a market cap of $31.59 billion, a price-to-earnings ratio of 34.54, a price-to-earnings-growth ratio of 3.64 and a beta of 1.10. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $184.87. 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 business's 50 day moving average is $148.85 and its 200 day moving average is $148.38.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, beating 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 company 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 business posted $1.96 EPS. The business's revenue was up 2.6% on a year-over-year basis. As a group, research analysts forecast that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a dividend of $1.62 per share. The ex-dividend date was Monday, June 16th. This represents a $6.48 annualized dividend and a dividend yield of 4.35%. Extra Space Storage's payout ratio is 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.