Extra Space Storage Inc. (NYSE:EXR) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System decreased its holdings in Extra Space Storage Inc. (NYSE:EXR) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 about 0.19% of Extra Space Storage worth $60,909,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Oregon Public Employees Retirement Fund increased its holdings in shares of Extra Space Storage by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,160 shares of the real estate investment trust’s stock valued at $2,717,000 after purchasing an additional 66 shares in the last quarter. Wedge Capital Management L L P NC increased its holdings in Extra Space Storage by 1.3% in the fourth quarter. Wedge Capital Management L L P NC now owns 5,138 shares of the real estate investment trust’s stock valued at $769,000 after buying an additional 68 shares in the last quarter. Lindbrook Capital LLC lifted its position in shares of Extra Space Storage by 14.9% during the 4th quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust’s stock valued at $78,000 after acquiring an additional 68 shares during the period. Checchi Capital Advisers LLC boosted its stake in shares of Extra Space Storage by 2.2% during the 4th quarter. Checchi Capital Advisers LLC now owns 3,449 shares of the real estate investment trust’s stock worth $516,000 after acquiring an additional 75 shares in the last quarter. Finally, Harbour Investments Inc. grew its holdings in shares of Extra Space Storage by 90.9% in the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Wall Street Analyst Weigh In

EXR has been the subject of several research reports. Barclays reduced 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. Truist Financial boosted their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. The Goldman Sachs Group restated a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday, March 7th. Finally, Royal Bank of Canada dropped their price objective on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $171.09.

Insider Buying and Selling

In other news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the completion of the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at $2,470,286.90. This represents a 31.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Joseph J. Bonner sold 672 shares of the stock in a transaction on Thursday, March 13th. The stock was 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 directly owns 4,557 shares in the company, valued at $679,448.70. This trade represents a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,392 shares of company stock valued at $1,396,515. Insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Down 0.5 %

EXR stock opened at $147.81 on Wednesday. Extra Space Storage Inc. has a one year low of $131.02 and a one year high of $184.87. The stock has a market capitalization of $31.34 billion, a P/E ratio of 38.69, a PEG ratio of 7.76 and a beta of 0.90. The company has a 50 day moving average price of $152.21 and a two-hundred day moving average price of $159.48. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, beating 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, sell-side analysts expect that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $1.62 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.38%. Extra Space Storage’s payout ratio is 160.40%.

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.