Employees Retirement System of Texas Grows Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Employees Retirement System of Texas raised its position in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 29.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 118,745 shares of the real estate investment trust's stock after buying an additional 27,000 shares during the period. Employees Retirement System of Texas owned about 0.06% of Extra Space Storage worth $17,764,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Walleye Capital LLC increased its position in shares of Extra Space Storage by 174.8% during the third quarter. Walleye Capital LLC now owns 1,280 shares of the real estate investment trust's stock worth $231,000 after purchasing an additional 2,992 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Extra Space Storage by 3.5% in the third quarter. HighTower Advisors LLC now owns 44,420 shares of the real estate investment trust's stock valued at $8,008,000 after buying an additional 1,486 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Extra Space Storage by 1.7% in the third quarter. Janus Henderson Group PLC now owns 29,117 shares of the real estate investment trust's stock worth $5,246,000 after buying an additional 500 shares in the last quarter. IHT Wealth Management LLC acquired a new position in Extra Space Storage during the third quarter worth about $282,000. Finally, Royal London Asset Management Ltd. raised its holdings in Extra Space Storage by 3.4% in the 3rd quarter. Royal London Asset Management Ltd. now owns 86,078 shares of the real estate investment trust's stock valued at $15,510,000 after acquiring an additional 2,849 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EXR has been the subject of several recent research reports. Wells Fargo & Company cut their price target on Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating for the company in a report on Friday, February 21st. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Royal Bank of Canada reduced their price target on shares of Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 27th. Mizuho initiated coverage on shares of Extra Space Storage in a research report on Wednesday. They set an "outperform" rating and a $141.00 price objective for the company. Finally, Scotiabank raised Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and cut their target price for the company from $165.00 to $149.00 in a research report on Wednesday. Two analysts have rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Extra Space Storage has a consensus rating of "Hold" and an average target price of $167.25.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the transaction, the chief executive officer now owns 9,190 shares of the company's stock, valued at approximately $1,355,065.50. This trade represents a 44.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph J. Bonner sold 672 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the sale, the director now directly owns 4,557 shares of the company's stock, valued at $679,448.70. The trade was a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,392 shares of company stock worth $1,392,315 over the last 90 days. 1.36% of the stock is owned by insiders.

Extra Space Storage Stock Up 1.5 %

Shares of Extra Space Storage stock traded up $1.93 on Friday, reaching $133.77. 1,346,091 shares of the company were exchanged, compared to its average volume of 1,070,413. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. Extra Space Storage Inc. has a 1-year low of $121.03 and a 1-year high of $184.87. The company has a market cap of $28.39 billion, a P/E ratio of 35.02, a price-to-earnings-growth ratio of 7.76 and a beta of 0.96. The stock's 50 day moving average price is $148.62 and its 200-day moving average price is $156.62.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.93. The business had revenue of $821.90 million during the quarter, compared to analysts' expectations of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. As a group, equities analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.84%. The ex-dividend date was Friday, March 14th. Extra Space Storage's dividend payout ratio (DPR) is presently 160.40%.

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.