Louisiana State Employees Retirement System Trims Position in Extra Space Storage Inc. (NYSE:EXR)

Louisiana State Employees Retirement System decreased its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 0.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,900 shares of the real estate investment trust’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Extra Space Storage were worth $2,144,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of EXR. Boston Partners purchased a new position in shares of Extra Space Storage during the first quarter worth about $130,554,000. Janus Henderson Group PLC grew its holdings in shares of Extra Space Storage by 2,244.2% during the first quarter. Janus Henderson Group PLC now owns 597,729 shares of the real estate investment trust’s stock worth $87,824,000 after purchasing an additional 572,231 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Extra Space Storage by 43.7% during the first quarter. Canada Pension Plan Investment Board now owns 1,557,135 shares of the real estate investment trust’s stock worth $228,899,000 after purchasing an additional 473,559 shares in the last quarter. American Century Companies Inc. boosted its stake in Extra Space Storage by 543.5% in the second quarter. American Century Companies Inc. now owns 397,170 shares of the real estate investment trust’s stock worth $61,724,000 after buying an additional 335,447 shares in the last quarter. Finally, Swedbank AB purchased a new stake in Extra Space Storage in the first quarter worth approximately $33,912,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Price Performance

EXR opened at $165.62 on Wednesday. The stock has a fifty day simple moving average of $174.46 and a two-hundred day simple moving average of $160.15. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.76. The company has a market cap of $35.07 billion, a price-to-earnings ratio of 36.89, a price-to-earnings-growth ratio of 6.25 and a beta of 0.86. Extra Space Storage Inc. has a 12-month low of $101.19 and a 12-month high of $184.87.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $1.62 dividend. The ex-dividend date was Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a yield of 3.91%. Extra Space Storage’s dividend payout ratio (DPR) is 144.32%.

Insiders Place Their Bets

In other news, EVP William N. Springer sold 2,000 shares of the 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 sale, the executive vice president now directly owns 11,919 shares of the company’s stock, valued at approximately $2,089,758.27. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP William N. Springer sold 2,000 shares of the 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 sale, the executive vice president now directly owns 11,919 shares of the company’s stock, valued at approximately $2,089,758.27. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the completion of the sale, the chief executive officer now directly owns 24,190 shares in the company, valued at approximately $4,318,398.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,970 shares of company stock worth $3,367,307. 1.36% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on EXR shares. Scotiabank upped their target price on Extra Space Storage from $159.00 to $169.00 and gave the stock a “sector underperform” rating in a research note on Thursday, August 22nd. Truist Financial upped their target price on Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Barclays upped their target price on Extra Space Storage from $188.00 to $192.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Royal Bank of Canada began coverage on Extra Space Storage in a research note on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Extra Space Storage has a consensus rating of “Hold” and a consensus price target of $171.07.

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.