Teacher Retirement System of Texas Grows Position in Extra Space Storage Inc. (NYSE:EXR)

Teacher Retirement System of Texas lifted its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 84.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 57,197 shares of the real estate investment trust’s stock after acquiring an additional 26,142 shares during the period. Teacher Retirement System of Texas’ holdings in Extra Space Storage were worth $8,557,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in EXR. Golden State Wealth Management LLC acquired a new stake in shares of Extra Space Storage during the fourth quarter worth $25,000. Harbour Investments Inc. boosted its holdings in shares of Extra Space Storage by 90.9% during the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 80 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Extra Space Storage during the third quarter worth $42,000. Quent Capital LLC boosted its holdings in shares of Extra Space Storage by 89.0% during the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 154 shares during the last quarter. Finally, Asset Planning Inc acquired a new position in Extra Space Storage in the fourth quarter valued at $52,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Stock Down 1.3 %

Shares of NYSE EXR opened at $143.92 on Friday. Extra Space Storage Inc. has a 1 year low of $131.02 and a 1 year high of $184.87. The firm has a market cap of $30.51 billion, a price-to-earnings ratio of 37.67, a PEG ratio of 7.76 and a beta of 0.90. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The stock’s 50-day simple moving average is $152.76 and its 200-day simple moving average is $161.05.

Extra Space Storage (NYSE:EXR) last announced 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 for the quarter, compared to analyst estimates of $707.34 million. As a group, equities analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 4.50%. The ex-dividend date is Friday, March 14th. Extra Space Storage’s payout ratio is 160.40%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on EXR shares. StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday, March 7th. Truist Financial lifted their target price on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Scotiabank reduced their target price on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 5th. Royal Bank of Canada reduced their target price on 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, Barclays reduced their target price on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $171.09.

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the sale, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP William N. Springer sold 1,220 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the completion of the sale, the executive vice president now directly owns 20,158 shares of the company’s stock, valued at approximately $3,077,320.28. This represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,392 shares of company stock valued at $1,396,515. 1.36% of the stock is currently owned by insiders.

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.