Kentucky Retirement Systems Insurance Trust Fund Sells 554 Shares of Extra Space Storage Inc. (NYSE:EXR)

Kentucky Retirement Systems Insurance Trust Fund trimmed its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 8.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,275 shares of the real estate investment trust’s stock after selling 554 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Extra Space Storage were worth $1,131,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in EXR. QRG Capital Management Inc. grew its holdings in shares of Extra Space Storage by 5.2% during the first quarter. QRG Capital Management Inc. now owns 1,588 shares of the real estate investment trust’s stock worth $233,000 after purchasing an additional 78 shares in the last quarter. Intech Investment Management LLC grew its stake in Extra Space Storage by 138.7% in the 1st quarter. Intech Investment Management LLC now owns 5,405 shares of the real estate investment trust’s stock worth $795,000 after buying an additional 3,141 shares in the last quarter. Covestor Ltd increased its holdings in shares of Extra Space Storage by 67.7% in the 1st quarter. Covestor Ltd now owns 592 shares of the real estate investment trust’s stock worth $87,000 after buying an additional 239 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of Extra Space Storage by 36.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,004 shares of the real estate investment trust’s stock valued at $1,030,000 after buying an additional 1,875 shares in the last quarter. Finally, UniSuper Management Pty Ltd lifted its holdings in shares of Extra Space Storage by 1.4% during the 1st quarter. UniSuper Management Pty Ltd now owns 68,813 shares of the real estate investment trust’s stock worth $10,116,000 after acquiring an additional 972 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EXR has been the topic of a number of research analyst reports. Raymond James increased their target price on Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group raised Extra Space Storage from a “hold” rating to a “buy” rating and raised their price objective for the company from $162.00 to $204.00 in a report on Wednesday, September 18th. Truist Financial upped their target price on Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a report on Friday, August 16th. Barclays raised their target price on shares of Extra Space Storage from $188.00 to $192.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $175.00 price objective on shares of Extra Space Storage in a report on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $171.50.

Extra Space Storage Trading Up 0.7 %

Extra Space Storage stock opened at $164.56 on Monday. Extra Space Storage Inc. has a 12 month low of $125.32 and a 12 month high of $184.87. The company has a market capitalization of $34.88 billion, a price-to-earnings ratio of 43.08, a price-to-earnings-growth ratio of 8.29 and a beta of 0.87. The business’s fifty day simple moving average is $171.50 and its two-hundred day simple moving average is $162.65. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.12). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm had revenue of $824.80 million during the quarter, compared to analysts’ expectations of $826.93 million. During the same period last year, the firm posted $2.02 earnings per share. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, equities analysts predict that Extra Space Storage Inc. will post 8.09 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.94%. Extra Space Storage’s dividend payout ratio is 169.63%.

Insiders Place Their Bets

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the completion of the sale, the chief executive officer now directly owns 24,190 shares in the company, valued at approximately $4,318,398.80. This trade represents a 23.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth M. Woolley sold 6,647 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $177.23, for a total value of $1,178,047.81. Following the completion of the transaction, the director now directly owns 404,306 shares of the company’s stock, valued at approximately $71,655,152.38. This trade represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,970 shares of company stock valued at $3,367,307. Corporate insiders own 1.36% of the company’s stock.

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.