Louisiana State Employees Retirement System Takes $2.05 Million Position in Extra Space Storage Inc. (NYSE:EXR)

Louisiana State Employees Retirement System bought a new position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 12,800 shares of the real estate investment trust's stock, valued at approximately $2,052,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. First Horizon Advisors Inc. lifted its position in shares of Extra Space Storage by 1,272.7% in the first quarter. First Horizon Advisors Inc. now owns 151 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 140 shares during the last quarter. Zions Bancorporation N.A. lifted its holdings in Extra Space Storage by 241.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 150 shares during the last quarter. Money Concepts Capital Corp bought a new position in Extra Space Storage during the fourth quarter worth $27,000. EverSource Wealth Advisors LLC boosted its position in Extra Space Storage by 162.5% during the third quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 143 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Extra Space Storage during the 3rd quarter worth about $32,000. Institutional investors own 99.11% of the company's stock.

Insider Buying and Selling at Extra Space Storage

In related news, CMO Samrat Sondhi sold 2,048 shares of the company's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $146.46, for a total transaction of $299,950.08. Following the transaction, the chief marketing officer now directly owns 94,126 shares of the company's stock, valued at approximately $13,785,693.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of the business's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the completion of the sale, the chief marketing officer now owns 94,126 shares in the company, valued at approximately $13,785,693.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the transaction, the executive vice president now directly owns 37,028 shares in the company, valued at $5,369,060. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,532 shares of company stock valued at $514,819. 1.36% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EXR. StockNews.com cut Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Saturday, March 2nd. Morgan Stanley upgraded shares of Extra Space Storage from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $115.00 to $150.00 in a research report on Thursday, December 21st. Truist Financial increased their price target on Extra Space Storage from $138.00 to $152.00 and gave the stock a "hold" rating in a research report on Thursday, December 28th. Barclays started coverage on shares of Extra Space Storage in a research report on Wednesday, March 27th. They set an "overweight" rating and a $157.00 price objective for the company. Finally, Wells Fargo & Company raised their target price on Extra Space Storage from $150.00 to $160.00 and gave the company an "overweight" rating in a report on Friday, April 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $150.17.

Extra Space Storage Trading Down 1.4 %

NYSE:EXR traded down $1.90 on Thursday, reaching $134.20. 1,013,493 shares of the stock traded hands, compared to its average volume of 1,171,660. The firm has a market capitalization of $28.40 billion, a price-to-earnings ratio of 27.17, a price-to-earnings-growth ratio of 3.34 and a beta of 0.74. Extra Space Storage Inc. has a 1-year low of $101.19 and a 1-year high of $164.99. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.71. The company's 50 day moving average is $142.79 and its 200-day moving average is $137.43.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing analysts' consensus estimates of $2.03 by ($1.01). Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The firm had revenue of $797.77 million for the quarter, compared to the consensus estimate of $778.05 million. During the same period in the prior year, the business earned $2.09 EPS. Extra Space Storage's quarterly revenue was up 57.4% on a year-over-year basis. Equities research analysts anticipate that Extra Space Storage Inc. will post 8.05 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $1.62 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.83%. Extra Space Storage's payout ratio is currently 131.17%.

Extra Space Storage 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.