Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its stake in Extra Space Storage Inc. (NYSE:EXR) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 128,089 shares of the real estate investment trust’s stock after selling 1,207 shares during the quarter. Retirement Systems of Alabama’s holdings in Extra Space Storage were worth $20,537,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of EXR. Whittier Trust Co. lifted its holdings in Extra Space Storage by 4.5% in the fourth quarter. Whittier Trust Co. now owns 1,656 shares of the real estate investment trust’s stock valued at $266,000 after acquiring an additional 72 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Extra Space Storage by 19.1% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 706 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 113 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Extra Space Storage by 30.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 515 shares of the real estate investment trust’s stock valued at $83,000 after purchasing an additional 119 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Extra Space Storage by 2.9% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,050 shares of the real estate investment trust’s stock worth $810,000 after buying an additional 142 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew 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 valued at $28,000 after buying an additional 143 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on EXR shares. Raymond James reissued an “outperform” rating and set a $160.00 target price on shares of Extra Space Storage in a research note on Thursday, March 28th. Wells Fargo & Company increased their price target on Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. The Goldman Sachs Group boosted their price objective on Extra Space Storage from $168.00 to $187.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Scotiabank initiated coverage on shares of Extra Space Storage in a research note on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 price target on the stock. Finally, TheStreet upgraded shares of Extra Space Storage from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. 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. Based on data from MarketBeat, Extra Space Storage presently has a consensus rating of “Hold” and an average price target of $150.17.

Insider Buying and Selling at Extra Space Storage

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

Extra Space Storage Trading Up 2.9 %

Shares of Extra Space Storage stock opened at $137.38 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.30 and a quick ratio of 0.30. The stock’s 50 day simple moving average is $141.78 and its 200-day simple moving average is $138.42. The stock has a market cap of $29.07 billion, a P/E ratio of 27.81, a P/E/G ratio of 3.28 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.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). Extra Space Storage had a net margin of 31.81% and a return on equity of 8.34%. The firm had revenue of $797.77 million during the quarter, compared to analysts’ expectations of $778.05 million. During the same period in the prior year, the company posted $2.09 EPS. The company’s revenue for the quarter was up 57.4% compared to the same quarter last year. Analysts predict 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 paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.72%. Extra Space Storage’s dividend payout ratio (DPR) is 131.17%.

About Extra Space Storage

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.