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

Louisiana State Employees Retirement System reduced its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 2.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,000 shares of the real estate investment trust’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Extra Space Storage were worth $1,865,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. EdgeRock Capital LLC bought a new stake in shares of Extra Space Storage in the fourth quarter valued at $26,000. Creekmur Asset Management LLC purchased a new stake in Extra Space Storage during the fourth quarter valued at about $26,000. Blue Trust Inc. lifted its holdings in Extra Space Storage by 540.5% during 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 last quarter. Massmutual Trust Co. FSB ADV boosted its position in Extra Space Storage by 19.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock worth $72,000 after purchasing an additional 76 shares during the period. Finally, Cornerstone Advisors LLC purchased a new position in shares of Extra Space Storage in the first quarter worth about $74,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Activity at Extra Space Storage

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

Extra Space Storage Stock Up 2.6 %

Shares of NYSE EXR opened at $178.22 on Friday. Extra Space Storage Inc. has a one year low of $101.19 and a one year high of $178.63. The stock has a market capitalization of $37.73 billion, a P/E ratio of 39.69, a PEG ratio of 3.37 and a beta of 0.83. The firm’s 50 day simple moving average is $161.72 and its two-hundred day simple moving average is $149.76. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.20 and a quick ratio of 0.15.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $6.48 annualized dividend and a yield of 3.64%. Extra Space Storage’s payout ratio is 144.32%.

Analyst Ratings Changes

A number of analysts recently commented on EXR shares. Citigroup dropped their price target 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. Wells Fargo & Company boosted their price objective on Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Evercore ISI increased their price target on shares of Extra Space Storage from $140.00 to $151.00 and gave the stock an “in-line” rating in a report on Monday, July 15th. Raymond James boosted 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 report on Tuesday, July 23rd. Finally, Scotiabank lifted their price target on Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $165.25.

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.