State of Tennessee Department of Treasury Decreases Holdings in Extra Space Storage Inc. (NYSE:EXR)

State of Tennessee Department of Treasury lowered its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 128,618 shares of the real estate investment trust's stock after selling 3,134 shares during the quarter. State of Tennessee Department of Treasury owned about 0.06% of Extra Space Storage worth $19,241,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in EXR. World Investment Advisors LLC acquired a new stake in Extra Space Storage during the third quarter worth approximately $216,000. Wilmington Savings Fund Society FSB acquired a new stake in Extra Space Storage during the 3rd quarter worth $654,000. Tidal Investments LLC raised its stake in Extra Space Storage by 34.4% during the 3rd quarter. Tidal Investments LLC now owns 12,640 shares of the real estate investment trust's stock worth $2,278,000 after acquiring an additional 3,234 shares in the last quarter. Copley Financial Group Inc. purchased a new stake in Extra Space Storage in the third quarter valued at $659,000. Finally, SMART Wealth LLC boosted its stake in Extra Space Storage by 21.4% in the third quarter. SMART Wealth LLC now owns 4,945 shares of the real estate investment trust's stock valued at $891,000 after acquiring an additional 871 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Insider Activity at Extra Space Storage

In other news, EVP William N. Springer sold 1,220 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the completion of the transaction, the executive vice president now owns 20,158 shares in the company, valued at $3,077,320.28. This trade represents a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joseph J. Bonner sold 672 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $149.10, for a total transaction of $100,195.20. Following the completion of the sale, the director now owns 4,557 shares in the company, valued at $679,448.70. This represents a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,392 shares of company stock worth $1,392,315 over the last 90 days. Company insiders own 1.36% of the company's stock.

Analyst Ratings Changes

EXR has been the subject of several research reports. Royal Bank of Canada reduced their target price on 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 cut Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Friday, March 7th. Barclays decreased their price objective on Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating for the company in a report on Wednesday, March 12th. Mizuho started coverage on shares of Extra Space Storage in a report on Wednesday, April 9th. They issued an "outperform" rating and a $141.00 target price on the stock. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Extra Space Storage has an average rating of "Hold" and an average price target of $167.25.

Extra Space Storage Trading Up 2.7 %

Shares of Extra Space Storage stock opened at $141.95 on Wednesday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The firm has a market cap of $30.13 billion, a price-to-earnings ratio of 37.16, a price-to-earnings-growth ratio of 7.76 and a beta of 0.96. Extra Space Storage Inc. has a 52-week low of $121.03 and a 52-week high of $184.87. The company's 50-day simple moving average is $146.31 and its 200-day simple moving average is $154.82.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued 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 return on equity of 5.51% and a net margin of 25.35%. The business had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. As a group, equities research analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $1.62 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.56%. Extra Space Storage's dividend payout ratio is presently 160.40%.

About Extra Space Storage

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.

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