Public Employees Retirement Association of Colorado Decreases Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Public Employees Retirement Association of Colorado cut its stake in Extra Space Storage Inc. (NYSE:EXR) by 2.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,367 shares of the real estate investment trust’s stock after selling 807 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Extra Space Storage were worth $4,564,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EXR. EdgeRock Capital LLC acquired a new position in Extra Space Storage in the second quarter valued at $25,000. Creekmur Asset Management LLC acquired a new position in Extra Space Storage in the fourth quarter valued at $26,000. Centerpoint Advisors LLC acquired a new position in Extra Space Storage in the second quarter valued at $27,000. Blue Trust Inc. increased its stake in Extra Space Storage by 540.5% in the second quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 200 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in Extra Space Storage by 2,760.0% in 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 purchasing an additional 276 shares during the period. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth M. Woolley sold 6,647 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $177.23, for a total transaction of $1,178,047.81. Following the completion of 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. Over the last 90 days, insiders have sold 18,970 shares of company stock valued at $3,172,757. Corporate insiders own 1.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on EXR shares. Royal Bank of Canada started coverage on shares of Extra Space Storage in a research note on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 price objective on the stock. Barclays lifted 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. Jefferies Financial Group upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and lifted their price objective for the company from $162.00 to $204.00 in a research note on Wednesday, September 18th. KeyCorp boosted their price target on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Finally, Raymond James boosted their price target on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Two 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 stock. Based on data from MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and a consensus price target of $170.93.

Extra Space Storage Stock Up 0.2 %

EXR stock opened at $180.41 on Monday. The company has a market cap of $38.20 billion, a P/E ratio of 40.18, a P/E/G ratio of 2.56 and a beta of 0.86. Extra Space Storage Inc. has a 52 week low of $101.19 and a 52 week high of $184.87. The company’s 50-day moving average price is $170.03 and its 200 day moving average price is $154.85. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.76.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date is Monday, September 16th. Extra Space Storage’s dividend payout ratio is currently 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.