Teacher Retirement System of Texas Acquires 26,142 Shares of Extra Space Storage Inc. (NYSE:EXR)

Teacher Retirement System of Texas lifted its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 84.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,197 shares of the real estate investment trust's stock after acquiring an additional 26,142 shares during the quarter. Teacher Retirement System of Texas' holdings in Extra Space Storage were worth $8,557,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. OneDigital Investment Advisors LLC acquired a new stake in shares of Extra Space Storage during the 3rd quarter worth approximately $210,000. Empowered Funds LLC grew its holdings in Extra Space Storage by 7.2% during the 3rd quarter. Empowered Funds LLC now owns 3,928 shares of the real estate investment trust's stock worth $708,000 after acquiring an additional 264 shares during the period. Pathstone Holdings LLC raised its position in shares of Extra Space Storage by 1.1% during the 3rd quarter. Pathstone Holdings LLC now owns 13,027 shares of the real estate investment trust's stock valued at $2,347,000 after acquiring an additional 148 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Extra Space Storage in the 3rd quarter valued at $1,144,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Extra Space Storage in the 3rd quarter worth $334,000. Institutional investors and hedge funds own 99.11% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on EXR. Truist Financial increased their target price on Extra Space Storage from $167.00 to $168.00 and gave the company a "hold" rating in a research note on Thursday, December 5th. Royal Bank of Canada decreased their price objective on shares of Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating for the company in a report on Thursday, February 27th. StockNews.com lowered shares of Extra Space Storage from a "hold" rating to a "sell" rating in a report on Friday, March 7th. Scotiabank decreased their price target on shares of Extra Space Storage from $167.00 to $165.00 and set a "sector perform" rating for the company in a report on Wednesday, March 5th. Finally, Wells Fargo & Company dropped their price objective on Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating on the stock in a research note on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $171.09.

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Extra Space Storage Stock Down 0.2 %

Extra Space Storage stock traded down $0.26 during midday trading on Thursday, reaching $145.32. The stock had a trading volume of 650,361 shares, compared to its average volume of 999,092. The stock has a market capitalization of $30.81 billion, a P/E ratio of 38.04, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. The firm's fifty day simple moving average is $152.57 and its 200-day simple moving average is $160.44. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. Extra Space Storage Inc. has a 1-year low of $131.02 and a 1-year high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, topping 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 business had revenue of $821.90 million during the quarter, compared to analysts' expectations of $707.34 million. As a group, analysts expect that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.46%. Extra Space Storage's dividend payout ratio (DPR) is presently 160.40%.

Insider Activity at Extra Space Storage

In other news, Director Joseph J. Bonner sold 672 shares of Extra Space Storage 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 transaction, the director now owns 4,557 shares of the company's stock, valued at $679,448.70. This trade represents a 12.85 % decrease in their position. The sale 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 the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the completion of the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,392 shares of company stock valued at $1,396,515. Insiders own 1.36% of the company's stock.

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.