Extra Space Storage Inc. (NYSE:EXR) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its position in Extra Space Storage Inc. (NYSE:EXR) by 0.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,459 shares of the real estate investment trust’s stock after buying an additional 695 shares during the quarter. Retirement Systems of Alabama owned 0.08% of Extra Space Storage worth $25,201,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EXR. Ashton Thomas Securities LLC acquired a new stake in Extra Space Storage during the 3rd quarter valued at approximately $33,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Extra Space Storage during the third quarter worth approximately $42,000. Continuum Advisory LLC increased its stake in shares of Extra Space Storage by 68.1% in the third quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 126 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in Extra Space Storage in the third quarter valued at $129,000. Finally, Exchange Traded Concepts LLC raised its holdings in Extra Space Storage by 13.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 861 shares of the real estate investment trust’s stock valued at $129,000 after acquiring an additional 104 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Trading Up 2.0 %

Shares of NYSE:EXR opened at $155.00 on Thursday. Extra Space Storage Inc. has a fifty-two week low of $131.02 and a fifty-two week high of $184.87. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The company has a market cap of $32.86 billion, a PE ratio of 40.58, a P/E/G ratio of 7.67 and a beta of 0.91. The company’s 50-day moving average price is $154.06 and its 200 day moving average price is $164.39.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend was Monday, December 16th. Extra Space Storage’s dividend payout ratio (DPR) is 169.63%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Barclays dropped their target price on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Scotiabank raised Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective for the company in a report on Friday, January 10th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $175.00 target price on shares of Extra Space Storage in a report on Monday, October 21st. Evercore ISI lowered their price target on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a report on Monday, October 14th. Finally, StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $174.00.

Insider Buying and Selling

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the transaction, the chief executive officer now owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Diane Olmstead sold 3,081 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $164.56, for a total value of $507,009.36. Following the transaction, the director now directly owns 5,877 shares in the company, valued at $967,119.12. This trade represents a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company’s stock.

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.