California Public Employees Retirement System Sells 11,026 Shares of Extra Space Storage Inc. (NYSE:EXR)

California Public Employees Retirement System reduced its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 407,145 shares of the real estate investment trust's stock after selling 11,026 shares during the quarter. California Public Employees Retirement System owned 0.19% of Extra Space Storage worth $60,909,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of EXR. Golden State Wealth Management LLC purchased a new stake in Extra Space Storage in the 4th quarter worth about $25,000. Harbour Investments Inc. boosted its holdings in shares of Extra Space Storage by 90.9% during 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 period. Quent Capital LLC increased its stake in Extra Space Storage by 89.0% in the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 154 shares during the period. Asset Planning Inc purchased a new stake in Extra Space Storage in the 4th quarter worth approximately $52,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Extra Space Storage during the 4th quarter valued at $54,000. Hedge funds and other institutional investors own 99.11% of the company's stock.

Extra Space Storage Stock Performance

EXR traded down $6.11 during midday trading on Friday, reaching $138.05. The company's stock had a trading volume of 1,378,935 shares, compared to its average volume of 1,056,017. Extra Space Storage Inc. has a twelve month low of $131.02 and a twelve month high of $184.87. The stock has a market cap of $29.27 billion, a P/E ratio of 36.14, a PEG ratio of 7.76 and a beta of 0.90. The company has a fifty day simple moving average of $151.74 and a 200 day simple moving average of $158.88. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77.

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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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $707.34 million. Research analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage's dividend payout ratio (DPR) is presently 160.40%.

Wall Street Analysts Forecast Growth

EXR has been the subject of several recent research reports. StockNews.com lowered Extra Space Storage from a "hold" rating to a "sell" rating in a report on Friday, March 7th. Scotiabank reduced their price target on 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. Wells Fargo & Company cut their price objective on shares of Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating on the stock in a research report on Friday, February 21st. Royal Bank of Canada decreased their target price on shares of Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating for the company in a research report on Thursday, February 27th. Finally, Barclays reduced their price objective 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $171.09.

Insider Activity at Extra Space Storage

In other news, Director Joseph J. Bonner sold 672 shares of the stock in a transaction on 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 in the company, valued at approximately $679,448.70. This represents a 12.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $152.66, for a total transaction of $186,245.20. Following the sale, the executive vice president now owns 20,158 shares in the company, valued at approximately $3,077,320.28. This trade represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,392 shares of company stock worth $1,392,315 over the last three months. Company insiders own 1.36% of the company's stock.

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.