Vestcor Inc Has $1.66 Million Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Vestcor Inc cut its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 62.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 11,082 shares of the real estate investment trust's stock after selling 18,307 shares during the period. Vestcor Inc's holdings in Extra Space Storage were worth $1,658,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. State Street Corp boosted its holdings in shares of Extra Space Storage by 1.7% in the 3rd quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust's stock valued at $2,412,894,000 after buying an additional 227,006 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Extra Space Storage by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,409,330 shares of the real estate investment trust's stock valued at $360,436,000 after buying an additional 43,223 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Extra Space Storage by 5.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,127,067 shares of the real estate investment trust's stock valued at $318,209,000 after buying an additional 106,608 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Extra Space Storage by 724.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust's stock valued at $357,100,000 after buying an additional 1,741,320 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC boosted its holdings in shares of Extra Space Storage by 91.2% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,089,753 shares of the real estate investment trust's stock valued at $163,027,000 after buying an additional 519,934 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Extra Space Storage Trading Down 0.8 %

Shares of Extra Space Storage stock traded down $1.22 during trading on Wednesday, hitting $146.71. The stock had a trading volume of 1,192,127 shares, compared to its average volume of 1,003,756. The stock has a 50 day simple moving average of $152.88 and a 200 day simple moving average of $161.60. The company has a market capitalization of $31.10 billion, a PE ratio of 38.40, a P/E/G ratio of 7.76 and a beta of 0.90. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. 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 released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share 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 for the quarter, compared to the consensus estimate of $707.34 million. On average, research analysts expect that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently disclosed 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. This represents a $6.48 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date is Friday, March 14th. Extra Space Storage's payout ratio is presently 160.40%.

Analysts Set New Price Targets

Several analysts recently weighed in on EXR shares. Royal Bank of Canada cut their price objective on shares of Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 27th. StockNews.com downgraded shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Friday, March 7th. The Goldman Sachs Group restated a "buy" rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Scotiabank dropped their price target on shares of Extra Space Storage from $167.00 to $165.00 and set a "sector perform" rating on the stock in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company dropped their price target 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. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Extra Space Storage presently has an average rating of "Hold" and a consensus price target of $171.09.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 16,690 shares of the company's stock, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP William N. Springer sold 1,220 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $152.66, for a total transaction of $186,245.20. Following the transaction, the executive vice president now directly owns 20,158 shares in the company, valued at $3,077,320.28. The trade was a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,392 shares of company stock valued at $1,396,515. Corporate 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.