National Pension Service Increases Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

National Pension Service increased its stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 18.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 333,865 shares of the real estate investment trust's stock after purchasing an additional 51,623 shares during the quarter. National Pension Service owned 0.16% of Extra Space Storage worth $60,159,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of EXR. EdgeRock Capital LLC acquired a new position in shares of Extra Space Storage during the second quarter worth about $25,000. Centerpoint Advisors LLC acquired a new position in Extra Space Storage during the 2nd quarter worth approximately $27,000. Blue Trust Inc. increased its position in shares of Extra Space Storage by 540.5% in the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 200 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Extra Space Storage by 2,760.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 276 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of Extra Space Storage by 19.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust's stock worth $72,000 after purchasing an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on EXR shares. Royal Bank of Canada assumed coverage on Extra Space Storage in a report on Tuesday, September 10th. They issued a "sector perform" rating and a $180.00 target price on the stock. StockNews.com lowered Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Thursday, October 31st. Raymond James boosted their target price on Extra Space Storage from $160.00 to $175.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 23rd. Truist Financial increased their price target on shares of Extra Space Storage from $152.00 to $167.00 and gave the company a "hold" rating in a research note on Friday, August 16th. Finally, Wells Fargo & Company restated an "equal weight" rating and set a $175.00 price objective on shares of Extra Space Storage in a research report on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Extra Space Storage currently has a consensus rating of "Hold" and a consensus price target of $171.07.

Extra Space Storage Stock Performance

Shares of NYSE EXR traded down $7.51 during midday trading on Wednesday, reaching $161.03. 1,678,538 shares of the company were exchanged, compared to its average volume of 1,041,286. The stock has a market cap of $34.13 billion, a P/E ratio of 42.15, a PEG ratio of 6.06 and a beta of 0.87. Extra Space Storage Inc. has a 1 year low of $104.88 and a 1 year high of $184.87. The stock has a fifty day simple moving average of $173.03 and a 200 day simple moving average of $161.17. The company has a current ratio of 0.23, a quick ratio of 0.20 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.12). Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company had revenue of $824.80 million during the quarter, compared to analysts' expectations of $826.93 million. During the same quarter last year, the business posted $2.02 earnings per share. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. On average, research analysts forecast that Extra Space Storage Inc. will post 8.08 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $1.62 per share. The ex-dividend date was Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a yield of 4.02%. Extra Space Storage's payout ratio is currently 169.63%.

Insider Activity

In related news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the firm's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $177.01, for a total value of $499,699.23. Following the completion of the sale, the executive vice president now owns 32,855 shares in the company, valued at $5,815,663.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the firm's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $177.01, for a total value of $499,699.23. Following the completion of the sale, the executive vice president now owns 32,855 shares of the company's stock, valued at approximately $5,815,663.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William N. Springer sold 2,000 shares of the company's stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total transaction of $350,660.00. Following the transaction, the executive vice president now directly owns 11,919 shares in the company, valued at approximately $2,089,758.27. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,970 shares of company stock valued at $3,367,307 over the last quarter. Corporate 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.