Louisiana State Employees Retirement System Takes $1.42 Million Position in Extra Space Storage Inc $EXR

Louisiana State Employees Retirement System bought a new position in Extra Space Storage Inc (NYSE:EXR) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 10,800 shares of the real estate investment trust’s stock, valued at approximately $1,416,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in EXR. NewEdge Advisors LLC boosted its holdings in Extra Space Storage by 9.3% during the first quarter. NewEdge Advisors LLC now owns 3,409 shares of the real estate investment trust’s stock worth $506,000 after buying an additional 291 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Extra Space Storage by 15.5% in the first quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust’s stock valued at $729,000 after buying an additional 661 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Extra Space Storage during the 2nd quarter valued at $457,000. First Trust Advisors LP lifted its position in shares of Extra Space Storage by 184.1% during the 2nd quarter. First Trust Advisors LP now owns 108,205 shares of the real estate investment trust’s stock valued at $15,954,000 after acquiring an additional 70,115 shares during the last quarter. Finally, Brown Advisory Inc. lifted its position in shares of Extra Space Storage by 1.8% during the 2nd quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock valued at $653,000 after acquiring an additional 80 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Stock Performance

Shares of EXR opened at $149.29 on Friday. The company’s 50 day moving average price is $144.36 and its 200 day moving average price is $141.02. Extra Space Storage Inc has a 52 week low of $125.71 and a 52 week high of $155.19. The company has a market capitalization of $31.54 billion, a PE ratio of 33.47, a PEG ratio of 4.56 and a beta of 1.19. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.87). Extra Space Storage had a return on equity of 6.65% and a net margin of 27.66%.The company had revenue of $856.03 million during the quarter, compared to analysts’ expectations of $851.35 million. During the same quarter in the previous year, the company earned $2.00 EPS. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Research analysts expect that Extra Space Storage Inc will post 8.26 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $1.62 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.3%. Extra Space Storage’s dividend payout ratio is 145.29%.

Insider Activity

In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $150.00, for a total transaction of $495,000.00. Following the completion of the sale, the executive vice president directly owned 37,374 shares in the company, valued at approximately $5,606,100. This trade represents a 8.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on Extra Space Storage from $148.00 to $154.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Wall Street Zen downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Extra Space Storage in a research report on Tuesday, April 21st. Bank of America raised Extra Space Storage from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $147.00 to $156.00 in a research note on Tuesday, June 16th. Finally, JPMorgan Chase & Co. boosted their price objective on Extra Space Storage from $142.00 to $144.00 and gave the stock a “neutral” rating in a report on Monday, March 23rd. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $153.07.

Extra Space Storage Company Profile

Extra Space Storage (NYSE: EXR) is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.