Teacher Retirement System of Texas Trims Stake in Extra Space Storage Inc. (NYSE:EXR)

Teacher Retirement System of Texas cut its holdings in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 53.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,348 shares of the real estate investment trust's stock after selling 43,327 shares during the quarter. Teacher Retirement System of Texas' holdings in Extra Space Storage were worth $6,148,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Commonwealth Equity Services LLC lifted its position in shares of Extra Space Storage by 31.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 15,079 shares of the real estate investment trust's stock valued at $1,833,000 after acquiring an additional 3,574 shares during the period. Mackenzie Financial Corp raised its position in shares of Extra Space Storage by 4.9% in the 3rd quarter. Mackenzie Financial Corp now owns 14,922 shares of the real estate investment trust's stock valued at $1,743,000 after buying an additional 698 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Extra Space Storage by 38.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,051 shares of the real estate investment trust's stock worth $4,626,000 after acquiring an additional 10,657 shares during the period. Park Avenue Securities LLC acquired a new stake in shares of Extra Space Storage during the 3rd quarter worth approximately $453,000. Finally, ING Groep NV bought a new position in Extra Space Storage in the third quarter valued at approximately $951,000. 99.11% of the stock is owned by institutional investors.

Insider Buying and Selling at Extra Space Storage

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

Extra Space Storage Trading Up 0.5 %

Shares of NYSE:EXR traded up $0.76 during midday trading on Tuesday, reaching $148.65. The company's stock had a trading volume of 720,353 shares, compared to its average volume of 1,160,184. Extra Space Storage Inc. has a fifty-two week low of $101.19 and a fifty-two week high of $164.99. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.15. The firm has a 50 day moving average price of $141.91 and a two-hundred day moving average price of $140.27. The firm has a market capitalization of $31.47 billion, a price-to-earnings ratio of 32.94, a PEG ratio of 3.60 and a beta of 0.76.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.01). Extra Space Storage had a return on equity of 6.76% and a net margin of 29.10%. The company had revenue of $797.77 million for the quarter, compared to analyst estimates of $778.05 million. During the same period last year, the business earned $2.09 EPS. The business's quarterly revenue was up 57.4% compared to the same quarter last year. As a group, analysts forecast that Extra Space Storage Inc. will post 8.05 earnings per share for the current year.

Extra Space Storage Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 4.36%. Extra Space Storage's payout ratio is currently 144.32%.

Analysts Set New Price Targets

EXR has been the topic of several recent analyst reports. StockNews.com lowered Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Saturday, March 2nd. Barclays assumed 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. Scotiabank started coverage on shares of Extra Space Storage in a research report on Tuesday, February 13th. They issued a "sector underperform" rating and a $131.00 target price on the stock. Raymond James reissued an "outperform" rating and set a $160.00 price objective on shares of Extra Space Storage in a report on Thursday, March 28th. Finally, Evercore ISI lowered their target price on Extra Space Storage from $145.00 to $139.00 in a report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $149.67.

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.