Employees Retirement System of Texas Purchases 9,000 Shares of Extra Space Storage Inc. (NYSE:EXR)

Employees Retirement System of Texas lifted its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 10.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,745 shares of the real estate investment trust's stock after buying an additional 9,000 shares during the quarter. Employees Retirement System of Texas' holdings in Extra Space Storage were worth $14,414,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Dynamic Technology Lab Private Ltd purchased a new position in Extra Space Storage during the fourth quarter valued at $224,000. D.A. Davidson & CO. purchased a new stake in Extra Space Storage during the 4th quarter valued at about $207,000. Cambridge Investment Research Advisors Inc. increased its stake in Extra Space Storage by 3.7% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 20,636 shares of the real estate investment trust's stock valued at $3,309,000 after purchasing an additional 745 shares in the last quarter. Orion Portfolio Solutions LLC increased its stake in Extra Space Storage by 4.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 7,246 shares of the real estate investment trust's stock valued at $1,158,000 after purchasing an additional 295 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in Extra Space Storage by 8.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,498 shares of the real estate investment trust's stock worth $1,042,000 after buying an additional 490 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on EXR shares. Scotiabank increased their price target on shares of Extra Space Storage from $159.00 to $169.00 and gave the company a "sector underperform" rating in a report on Thursday, August 22nd. Raymond James boosted their price target 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. Bank of America downgraded Extra Space Storage from a "neutral" rating to an "underperform" rating and lowered their price target for the company from $172.00 to $155.00 in a report on Monday, August 5th. Citigroup reduced their price objective on Extra Space Storage from $168.00 to $160.00 and set a "neutral" rating for the company in a report on Friday, June 7th. Finally, KeyCorp boosted their target price on Extra Space Storage from $172.00 to $178.00 and gave the stock an "overweight" rating in a research report on Monday, September 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $170.93.

Insider Activity at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $152.58, for a total value of $1,144,350.00. Following the completion of the sale, the chief executive officer now directly owns 31,690 shares of the company's stock, valued at $4,835,260.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total transaction of $350,660.00. Following the completion of the sale, the executive vice president now directly owns 11,919 shares of the company's stock, valued at approximately $2,089,758.27. 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 business's stock in a transaction on Monday, July 1st. The stock was sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the completion of the transaction, the chief executive officer now directly owns 31,690 shares in the company, valued at approximately $4,835,260.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,970 shares of company stock worth $3,172,757. 1.36% of the stock is owned by company insiders.

Extra Space Storage Stock Performance

Shares of NYSE:EXR traded down $4.73 during midday trading on Thursday, hitting $176.61. The company had a trading volume of 2,336,495 shares, compared to its average volume of 1,053,250. Extra Space Storage Inc. has a 12-month low of $101.19 and a 12-month high of $184.87. The company has a fifty day moving average of $171.06 and a two-hundred day moving average of $155.51. The company has a market cap of $37.39 billion, a price-to-earnings ratio of 39.17, a PEG ratio of 2.67 and a beta of 0.86. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.20 and a quick ratio of 0.20.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.67%. Extra Space Storage's payout ratio is currently 144.32%.

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.