Teachers Retirement System of The State of Kentucky Sells 902 Shares of Extra Space Storage Inc. (NYSE:EXR)

Teachers Retirement System of The State of Kentucky cut its stake in Extra Space Storage Inc. (NYSE:EXR) by 4.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,448 shares of the real estate investment trust’s stock after selling 902 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Extra Space Storage were worth $2,712,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. EdgeRock Capital LLC bought a new position in Extra Space Storage in the fourth quarter valued at $26,000. Creekmur Asset Management LLC bought a new position in shares of Extra Space Storage in the 4th quarter valued at about $26,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Extra Space Storage by 200.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 300 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 200 shares during the last quarter. Cornerstone Advisors LLC acquired a new stake in shares of Extra Space Storage in the first quarter valued at about $74,000. Finally, Parkside Financial Bank & Trust raised its holdings in Extra Space Storage by 30.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 515 shares of the real estate investment trust’s stock worth $83,000 after acquiring an additional 119 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

EXR has been the topic of several recent analyst reports. Raymond James boosted their price target on Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company boosted their target price on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “overweight” rating in a report 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 company an “in-line” rating in a research note on Monday, July 15th. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Citigroup dropped their target price on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, June 7th. One equities research analyst has 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $157.67.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock traded up $5.09 on Friday, hitting $164.95. The stock had a trading volume of 1,446,380 shares, compared to its average volume of 880,260. The stock has a market cap of $34.92 billion, a price-to-earnings ratio of 36.74, a price-to-earnings-growth ratio of 3.37 and a beta of 0.83. The company has a quick ratio of 0.15, a current ratio of 0.20 and a debt-to-equity ratio of 0.76. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $171.46. The business’s 50 day moving average is $156.05 and its two-hundred day moving average is $147.63.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date was Friday, June 14th. Extra Space Storage’s dividend payout ratio is 144.32%.

Insiders Place Their Bets

In other news, 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 value of $100,344.94. Following the completion of the sale, the director now owns 5,229 shares of the company’s stock, valued at $775,042.38. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $152.58, for a total value of $1,144,350.00. Following the completion of the sale, the chief executive officer now directly owns 31,690 shares in the company, valued at $4,835,260.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Joseph J. Bonner sold 677 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 5,229 shares of the company’s stock, valued at $775,042.38. The disclosure for this sale can be found here. Company insiders own 1.36% of the company’s stock.

About Extra Space Storage

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.