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

Public Employees Retirement Association of Colorado reduced its holdings in Extra Space Storage Inc. (NYSE:EXR) by 4.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 30,174 shares of the real estate investment trust’s stock after selling 1,442 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Extra Space Storage were worth $4,436,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Extra Space Storage by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 33,686,389 shares of the real estate investment trust’s stock valued at $4,951,899,000 after purchasing an additional 170,380 shares during the last quarter. Principal Financial Group Inc. lifted its position in Extra Space Storage by 8.9% in the 4th quarter. Principal Financial Group Inc. now owns 7,083,752 shares of the real estate investment trust’s stock valued at $1,135,738,000 after purchasing an additional 577,918 shares during the last quarter. Norges Bank bought a new stake in Extra Space Storage in the 4th quarter valued at about $1,022,811,000. Massachusetts Financial Services Co. MA lifted its position in Extra Space Storage by 6.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,219,030 shares of the real estate investment trust’s stock valued at $516,107,000 after purchasing an additional 186,940 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in Extra Space Storage by 8.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,724,293 shares of the real estate investment trust’s stock valued at $436,786,000 after purchasing an additional 211,395 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Stock Down 0.6 %

Shares of EXR stock traded down $0.95 during trading on Monday, hitting $163.66. 531,150 shares of the company were exchanged, compared to its average volume of 1,070,432. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.15. The firm has a market capitalization of $34.65 billion, a price-to-earnings ratio of 36.34, a P/E/G ratio of 3.47 and a beta of 0.83. The business’s 50-day simple moving average is $154.38 and its 200 day simple moving average is $147.22. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $171.46.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.96%. The ex-dividend date was Friday, June 14th. Extra Space Storage’s dividend payout ratio is currently 144.32%.

Analyst Ratings Changes

Several analysts recently weighed in on EXR shares. Wells Fargo & Company lifted their price objective on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday. Raymond James raised their target price 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. Barclays raised their target price on shares of Extra Space Storage from $157.00 to $158.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Citigroup lowered their target price on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $157.67.

Insider Buying and Selling

In related news, Director Joseph J. Bonner sold 677 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $148.22, for a total transaction of $100,344.94. Following the completion of the sale, the director now directly owns 5,229 shares in the company, valued at $775,042.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Extra Space Storage news, Director Joseph J. Bonner sold 677 shares of Extra Space Storage stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $148.22, for a total value of $100,344.94. Following the completion of the sale, the director now directly owns 5,229 shares in the company, valued at $775,042.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on 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 sale, the chief executive officer now owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by corporate insiders.

About Extra Space Storage

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.