Retirement Systems of Alabama Has $20.54 Million Holdings in Extra Space Storage Inc. (NYSE:EXR)

Retirement Systems of Alabama decreased its holdings in Extra Space Storage Inc. (NYSE:EXR) by 0.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 128,089 shares of the real estate investment trust’s stock after selling 1,207 shares during the quarter. Retirement Systems of Alabama owned 0.06% of Extra Space Storage worth $20,537,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of EXR. Whittier Trust Co. raised its position in shares of Extra Space Storage by 4.5% in the fourth quarter. Whittier Trust Co. now owns 1,656 shares of the real estate investment trust’s stock valued at $266,000 after buying an additional 72 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Extra Space Storage by 19.1% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 706 shares of the real estate investment trust’s stock valued at $113,000 after acquiring an additional 113 shares during the period. Parkside Financial Bank & Trust grew its holdings in shares of Extra Space Storage by 30.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 515 shares of the real estate investment trust’s stock worth $83,000 after purchasing an additional 119 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Extra Space Storage by 2.9% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,050 shares of the real estate investment trust’s stock worth $810,000 after purchasing an additional 142 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in Extra Space Storage by 162.5% in the third quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 143 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $137.38 on Tuesday. The stock has a market capitalization of $29.07 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 3.28 and a beta of 0.74. Extra Space Storage Inc. has a 52-week low of $101.19 and a 52-week high of $164.99. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.30 and a current ratio of 0.30. The stock’s 50 day moving average price is $141.78 and its two-hundred day moving average price is $138.42.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.01). Extra Space Storage had a net margin of 31.81% and a return on equity of 8.34%. The firm had revenue of $797.77 million during the quarter, compared to analyst estimates of $778.05 million. During the same quarter in the prior year, the business earned $2.09 earnings per share. The business’s quarterly revenue was up 57.4% on a year-over-year basis. On average, equities analysts predict that Extra Space Storage Inc. will post 8.05 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date was Thursday, March 14th. Extra Space Storage’s dividend payout ratio is currently 131.17%.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the sale, the executive vice president now directly owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the transaction, the executive vice president now directly owns 37,028 shares in the company, valued at $5,369,060. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the completion of the sale, the chief marketing officer now owns 94,126 shares of the company’s stock, valued at approximately $13,785,693.96. The disclosure for this sale can be found here. Insiders sold a total of 3,532 shares of company stock valued at $514,819 over the last three months. Corporate insiders own 1.36% of the company’s stock.

Wall Street Analysts Forecast Growth

EXR has been the subject of several analyst reports. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. The Goldman Sachs Group raised their target price on Extra Space Storage from $168.00 to $187.00 and gave the company a “buy” rating in a report on Thursday, January 11th. TheStreet raised Extra Space Storage from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Wells Fargo & Company raised their price objective on Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Extra Space Storage in a research note on Tuesday, January 30th. They set a “hold” rating and a $141.00 target price for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $150.17.

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.