Elo Mutual Pension Insurance Co Acquires 1,447 Shares of Extra Space Storage Inc. (NYSE:EXR)

Elo Mutual Pension Insurance Co raised its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 7.5% in the second quarter, Holdings Channel.com reports. The firm owned 20,720 shares of the real estate investment trust’s stock after purchasing an additional 1,447 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Extra Space Storage were worth $3,220,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in EXR. GSA Capital Partners LLP purchased a new stake in shares of Extra Space Storage in the 4th quarter worth approximately $3,304,000. State of Tennessee Treasury Department grew its stake in shares of Extra Space Storage by 252.1% in the fourth quarter. State of Tennessee Treasury Department now owns 114,819 shares of the real estate investment trust’s stock worth $18,409,000 after acquiring an additional 82,207 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Extra Space Storage by 19.3% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 247,203 shares of the real estate investment trust’s stock valued at $36,307,000 after acquiring an additional 40,055 shares in the last quarter. Norden Group LLC purchased a new position in shares of Extra Space Storage in the 1st quarter worth about $1,947,000. Finally, Gateway Investment Advisers LLC bought a new position in Extra Space Storage in the 2nd quarter worth about $16,026,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $180.09 on Friday. The firm’s 50 day moving average price is $169.66 and its 200-day moving average price is $154.46. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $38.13 billion, a PE ratio of 40.11, a price-to-earnings-growth ratio of 2.56 and a beta of 0.86. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $184.87.

Extra Space Storage Announces Dividend

The firm 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 dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Monday, September 16th. Extra Space Storage’s dividend payout ratio is presently 144.32%.

Insider Activity

In related news, EVP William N. Springer sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total value of $350,660.00. Following the transaction, the executive vice president now directly owns 11,919 shares of the company’s stock, valued at approximately $2,089,758.27. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Kenneth M. Woolley sold 6,647 shares of Extra Space Storage stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $177.23, for a total transaction of $1,178,047.81. Following the transaction, the director now directly owns 404,306 shares of the company’s stock, valued at approximately $71,655,152.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP William N. Springer sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total transaction of $350,660.00. Following the completion of the sale, the executive vice president now directly owns 11,919 shares of the company’s stock, valued at $2,089,758.27. The disclosure for this sale can be found here. Insiders sold a total of 18,970 shares of company stock valued at $3,172,757 in the last 90 days. Company insiders own 1.36% of the company’s stock.

Analysts Set New Price Targets

EXR has been the subject of a number of analyst reports. Barclays raised their price objective on shares of Extra Space Storage from $158.00 to $188.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Wells Fargo & Company boosted their price objective 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 Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. KeyCorp lifted their target price on Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Finally, Jefferies Financial Group raised Extra Space Storage from a “hold” rating to a “buy” rating and upped their price target for the company from $162.00 to $204.00 in a report on Wednesday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $170.93.

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.