Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 30,393 Shares of Extra Space Storage Inc. (NYSE:EXR)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 36.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 113,117 shares of the real estate investment trust's stock after buying an additional 30,393 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.05% of Extra Space Storage worth $16,922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in Extra Space Storage during the 4th quarter worth approximately $25,000. Harbour Investments Inc. grew its stake in shares of Extra Space Storage by 90.9% in the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 80 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Extra Space Storage in the third quarter worth $42,000. Quent Capital LLC increased its holdings in 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 purchasing an additional 154 shares during the period. Finally, Asset Planning Inc bought a new position in Extra Space Storage during the 4th quarter worth $52,000. Institutional investors own 99.11% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EXR. Royal Bank of Canada decreased their price target on Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating for the company in a research note on Thursday, February 27th. Truist Financial raised their price target on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a "hold" rating in a report on Thursday, December 5th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Barclays lowered their target price on shares of Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. Finally, StockNews.com cut shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Friday, March 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $171.09.

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Insider Buying and Selling at Extra Space Storage

In related news, EVP William N. Springer sold 1,220 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the sale, the executive vice president now owns 20,158 shares in the company, valued at $3,077,320.28. This represents a 5.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the transaction, the chief executive officer now owns 16,690 shares of the company's stock, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,392 shares of company stock valued at $1,396,515. Corporate insiders own 1.36% of the company's stock.

Extra Space Storage Stock Down 1.0 %

Shares of EXR traded down $1.43 during trading hours on Tuesday, hitting $144.56. The stock had a trading volume of 1,034,925 shares, compared to its average volume of 1,001,413. The firm has a 50 day simple moving average of $152.73 and a 200-day simple moving average of $160.75. Extra Space Storage Inc. has a 1-year low of $131.02 and a 1-year high of $184.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The firm has a market capitalization of $30.65 billion, a P/E ratio of 37.84, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.93. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm had revenue of $821.90 million during the quarter, compared to analysts' expectations of $707.34 million. Sell-side analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.62 per share. The ex-dividend date is Friday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.48%. Extra Space Storage's payout ratio is 160.40%.

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.