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

Louisiana State Employees Retirement System lowered its stake in Extra Space Storage Inc. (NYSE:EXR) by 2.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 12,000 shares of the real estate investment trust’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Extra Space Storage were worth $1,865,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. EdgeRock Capital LLC acquired a new position in Extra Space Storage in the fourth quarter worth about $26,000. Creekmur Asset Management LLC bought a new position in Extra Space Storage during the 4th quarter worth approximately $26,000. Blue Trust Inc. grew its position in shares of Extra Space Storage by 540.5% in the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 200 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of Extra Space Storage by 19.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock valued at $72,000 after acquiring an additional 76 shares during the last quarter. Finally, Cornerstone Advisors LLC acquired a new stake in shares of Extra Space Storage during the 1st quarter valued at approximately $74,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EXR. Citigroup lowered their target price on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Scotiabank boosted their price objective on shares of Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a research report on Thursday. Barclays increased their price objective on shares of Extra Space Storage from $158.00 to $188.00 and gave the stock an “overweight” rating in a research note on Thursday. Evercore ISI lifted their target price on Extra Space Storage from $140.00 to $151.00 and gave the company an “in-line” rating in a research note on Monday, July 15th. Finally, Bank of America lowered Extra Space Storage from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $172.00 to $155.00 in a report on Monday, August 5th. Two research 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. According to data from MarketBeat.com, Extra Space Storage currently has an average rating of “Hold” and a consensus price target of $165.25.

Insider Buying and Selling

In other Extra Space Storage news, Director Joseph J. Bonner sold 677 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $148.22, for a total transaction of $100,344.94. Following the completion of the sale, the director now directly owns 5,229 shares of the company’s stock, valued at $775,042.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the transaction, the chief executive officer now directly owns 31,690 shares in the company, valued at approximately $4,835,260.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph J. Bonner sold 677 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $148.22, for a total value of $100,344.94. Following the completion of the sale, the director now owns 5,229 shares of the company’s stock, valued at approximately $775,042.38. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by company insiders.

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $178.22 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.15 and a current ratio of 0.20. The company has a market capitalization of $37.73 billion, a PE ratio of 39.69, a price-to-earnings-growth ratio of 3.37 and a beta of 0.83. The stock has a fifty day moving average of $161.72 and a 200-day moving average of $149.76. Extra Space Storage Inc. has a one year low of $101.19 and a one year high of $178.63.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $1.62 dividend. The ex-dividend date is Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.64%. Extra Space Storage’s dividend payout ratio (DPR) is 144.32%.

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.