Employees Retirement System of Texas Acquires 9,000 Shares of Extra Space Storage Inc. (NYSE:EXR)

Employees Retirement System of Texas increased its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 10.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 92,745 shares of the real estate investment trust’s stock after acquiring an additional 9,000 shares during the period. Employees Retirement System of Texas’ holdings in Extra Space Storage were worth $14,414,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in EXR. EdgeRock Capital LLC acquired a new stake in Extra Space Storage during the second quarter valued at approximately $25,000. Creekmur Asset Management LLC bought a new stake in Extra Space Storage in the fourth quarter valued at $26,000. Centerpoint Advisors LLC bought a new stake in Extra Space Storage in the second quarter valued at $27,000. Blue Trust Inc. raised its stake in Extra Space Storage by 540.5% during the second 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. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Extra Space Storage by 2,760.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 276 shares during the period. Institutional investors own 99.11% of the company’s stock.

Insider Transactions at Extra Space Storage

In related news, Director Kenneth M. Woolley sold 6,647 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $177.23, for a total value of $1,178,047.81. Following the completion of the sale, the director now owns 404,306 shares in the company, valued at $71,655,152.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $177.01, for a total value of $499,699.23. Following the completion of the transaction, the executive vice president now owns 32,855 shares of the company’s stock, valued at approximately $5,815,663.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth M. Woolley sold 6,647 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $177.23, for a total value of $1,178,047.81. Following the sale, the director now directly owns 404,306 shares in the company, valued at approximately $71,655,152.38. The disclosure for this sale can be found here. Insiders have sold 18,970 shares of company stock worth $3,172,757 in the last three months. Insiders own 1.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on EXR shares. Wells Fargo & Company upped their target price on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. Bank of America cut shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and cut their target price for the company from $172.00 to $155.00 in a research note on Monday, August 5th. Barclays increased their price target on Extra Space Storage from $158.00 to $188.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Evercore ISI boosted their price objective on Extra Space Storage from $167.00 to $170.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $170.93.

Extra Space Storage Trading Down 0.5 %

Shares of NYSE EXR opened at $181.34 on Thursday. Extra Space Storage Inc. has a fifty-two week low of $101.19 and a fifty-two week high of $184.87. The firm has a market capitalization of $38.39 billion, a P/E ratio of 40.39, a P/E/G ratio of 2.67 and a beta of 0.86. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.20 and a quick ratio of 0.20. The company’s 50 day simple moving average is $171.06 and its 200 day simple moving average is $155.51.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date is Monday, September 16th. Extra Space Storage’s dividend payout ratio (DPR) is currently 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.