Oregon Public Employees Retirement Fund Boosts Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Oregon Public Employees Retirement Fund raised its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 0.4% in the 4th quarter, Holdings Channel reports. The fund owned 18,160 shares of the real estate investment trust’s stock after acquiring an additional 66 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Extra Space Storage were worth $2,717,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of EXR. Golden State Wealth Management LLC acquired a new stake in shares of Extra Space Storage during the fourth quarter worth $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Extra Space Storage in the third quarter valued at about $33,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Extra Space Storage in the third quarter valued at about $42,000. Quent Capital LLC boosted its holdings in shares of Extra Space Storage by 89.0% in the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 154 shares in the last quarter. Finally, Asset Planning Inc purchased a new stake in shares of Extra Space Storage in the fourth quarter valued at about $52,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at $2,470,286.90. This represents a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on EXR shares. Barclays dropped their target price on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Truist Financial boosted their target price on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. StockNews.com upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. Royal Bank of Canada cut their price objective on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research report on Thursday. Finally, Scotiabank upgraded shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective for the company in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $171.55.

Extra Space Storage Stock Performance

NYSE:EXR opened at $153.50 on Friday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $152.16 and a two-hundred day moving average price of $163.55. Extra Space Storage Inc. has a twelve month low of $131.02 and a twelve month high of $184.87. The company has a market capitalization of $32.54 billion, a P/E ratio of 40.18, a price-to-earnings-growth ratio of 7.76 and a beta of 0.91.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.93. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. As a group, research analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $1.62 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.22%. Extra Space Storage’s dividend payout ratio is currently 160.40%.

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.