Kentucky Retirement Systems Sells 90 Shares of Extra Space Storage Inc. (NYSE:EXR)

Kentucky Retirement Systems decreased its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,955 shares of the real estate investment trust’s stock after selling 90 shares during the quarter. Kentucky Retirement Systems’ holdings in Extra Space Storage were worth $2,480,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Beacon Pointe Advisors LLC raised its stake in Extra Space Storage by 21.2% during the fourth quarter. Beacon Pointe Advisors LLC now owns 2,130 shares of the real estate investment trust’s stock worth $341,000 after buying an additional 373 shares during the last quarter. Brown Advisory Inc. grew its holdings in Extra Space Storage by 5.4% during the 4th quarter. Brown Advisory Inc. now owns 4,336 shares of the real estate investment trust’s stock worth $695,000 after acquiring an additional 221 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Extra Space Storage in the 4th quarter worth about $224,000. Wells Fargo & Company MN lifted its stake in shares of Extra Space Storage by 2.4% in the 4th quarter. Wells Fargo & Company MN now owns 342,604 shares of the real estate investment trust’s stock valued at $54,930,000 after purchasing an additional 7,895 shares during the period. Finally, D.A. Davidson & CO. acquired a new position in shares of Extra Space Storage in the 4th quarter valued at about $207,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on EXR shares. Barclays lifted their target price on Extra Space Storage from $158.00 to $188.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. KeyCorp boosted their target price on shares of Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Raymond James lifted their price target on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Finally, Citigroup cut their price objective on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Extra Space Storage has a consensus rating of “Hold” and a consensus target price of $170.93.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 31,690 shares in the company, valued at $4,835,260.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $177.01, for a total value of $499,699.23. Following the completion of the sale, the executive vice president now directly owns 32,855 shares of the company’s stock, valued at $5,815,663.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $152.58, for a total value 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 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 ninety days. 1.36% of the stock is currently owned by insiders.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $180.41 on Friday. 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 company has a market capitalization of $38.20 billion, a PE ratio of 40.18, a PEG ratio of 2.56 and a beta of 0.86. The stock’s 50 day moving average price is $170.03 and its 200-day moving average price is $154.68. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $184.87.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.59%. The ex-dividend date is Monday, September 16th. Extra Space Storage’s dividend payout ratio is presently 144.32%.

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.