Commonwealth of Pennsylvania Public School Empls Retrmt SYS Raises Stake in Extra Space Storage Inc. (NYSE:EXR)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Extra Space Storage Inc. (NYSE:EXR) by 36.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 113,117 shares of the real estate investment trust’s stock after buying an additional 30,393 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.05% of Extra Space Storage worth $16,922,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its stake 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 acquiring an additional 227,006 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in 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 purchasing an additional 43,223 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Extra Space Storage by 5.3% in the fourth 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 purchasing an additional 106,608 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Extra Space Storage by 724.1% during the third 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 worth $357,100,000 after purchasing an additional 1,741,320 shares in the last quarter. Finally, Boston Partners boosted its position in shares of Extra Space Storage by 5.9% in the fourth quarter. Boston Partners now owns 1,466,816 shares of the real estate investment trust’s stock worth $219,437,000 after buying an additional 82,104 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Extra Space Storage news, Director Joseph J. Bonner sold 672 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total value of $100,195.20. Following the sale, the director now owns 4,557 shares in the company, valued at approximately $679,448.70. This trade represents a 12.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,392 shares of company stock valued at $1,396,515 over the last three months. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Trading Down 0.8 %

NYSE EXR opened at $145.67 on Friday. 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 Inc. has a one year low of $131.02 and a one year high of $184.87. The company has a 50-day simple moving average of $152.82 and a 200-day simple moving average of $161.38. The firm has a market capitalization of $30.88 billion, a PE ratio of 38.13, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90.

Extra Space Storage (NYSE:EXR) last issued its earnings results 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. The company had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. On average, equities analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s dividend payout ratio is presently 160.40%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. The Goldman Sachs Group reissued a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Truist Financial boosted their target price 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. 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 note on Wednesday, March 5th. 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 report on Thursday, February 27th. Finally, Wells Fargo & Company dropped their target price on 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 investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Extra Space Storage presently has an average rating of “Hold” and an average price target of $171.09.

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.