Illinois Municipal Retirement Fund Purchases New Stake in Extra Space Storage Inc. (NYSE:EXR)

Illinois Municipal Retirement Fund purchased a new stake in Extra Space Storage Inc. (NYSE:EXR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,360 shares of the real estate investment trust’s stock, valued at approximately $652,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Brown Financial Advisors increased its holdings in shares of Extra Space Storage by 5.8% in the fourth quarter. Brown Financial Advisors now owns 9,666 shares of the real estate investment trust’s stock valued at $1,446,000 after purchasing an additional 532 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Extra Space Storage by 8.2% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 40,956 shares of the real estate investment trust’s stock valued at $6,127,000 after purchasing an additional 3,100 shares during the last quarter. Navellier & Associates Inc. increased its holdings in shares of Extra Space Storage by 34.0% in the fourth quarter. Navellier & Associates Inc. now owns 3,856 shares of the real estate investment trust’s stock valued at $577,000 after purchasing an additional 979 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Extra Space Storage by 0.7% in the fourth quarter. Allianz Asset Management GmbH now owns 168,623 shares of the real estate investment trust’s stock valued at $25,226,000 after purchasing an additional 1,143 shares during the last quarter. Finally, ING Groep NV acquired a new stake in Extra Space Storage during the fourth quarter worth $4,050,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analysts Set New Price Targets

EXR has been the subject of several recent analyst reports. Wells Fargo & Company cut their target price on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Scotiabank raised Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 target price for the company in a research note on Friday, January 10th. Royal Bank of Canada cut their target price on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Finally, Truist Financial raised their target price on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $171.55.

Extra Space Storage Trading Up 1.0 %

Shares of NYSE EXR opened at $154.02 on Tuesday. Extra Space Storage Inc. has a twelve month low of $131.02 and a twelve month high of $184.87. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The stock has a fifty day simple moving average of $152.39 and a 200-day simple moving average of $163.34. The stock has a market capitalization of $32.65 billion, a PE ratio of 40.32, a PEG ratio of 7.76 and a beta of 0.91.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.93. The firm had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. On average, equities analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $1.62 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.21%. Extra Space Storage’s dividend payout ratio (DPR) is presently 160.40%.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the completion of the sale, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at $2,470,286.90. The trade was a 31.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.36% of the stock is currently owned by company insiders.

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.