Extra Space Storage Inc $EXR Stock Holdings Lessened by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp reduced its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 34.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,932 shares of the real estate investment trust’s stock after selling 7,972 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Extra Space Storage were worth $2,202,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Extra Space Storage during the 2nd quarter valued at $1,058,303,000. Resolution Capital Ltd raised its holdings in shares of Extra Space Storage by 116.2% during the second quarter. Resolution Capital Ltd now owns 1,950,842 shares of the real estate investment trust’s stock worth $287,632,000 after acquiring an additional 1,048,685 shares in the last quarter. AQR Capital Management LLC boosted its position in Extra Space Storage by 570.3% during the first quarter. AQR Capital Management LLC now owns 1,124,206 shares of the real estate investment trust’s stock valued at $166,180,000 after purchasing an additional 956,500 shares during the last quarter. Marshall Wace LLP boosted its position in Extra Space Storage by 60.1% during the second quarter. Marshall Wace LLP now owns 1,477,404 shares of the real estate investment trust’s stock valued at $217,828,000 after purchasing an additional 554,666 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Extra Space Storage by 321.6% in the first quarter. Millennium Management LLC now owns 573,253 shares of the real estate investment trust’s stock valued at $85,122,000 after purchasing an additional 437,287 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on EXR shares. Truist Financial cut their price target on Extra Space Storage from $150.00 to $142.00 and set a “hold” rating for the company in a research note on Tuesday, December 16th. Morgan Stanley dropped their price objective on Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating on the stock in a report on Friday, December 5th. UBS Group cut their price objective on shares of Extra Space Storage from $169.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday, September 16th. Scotiabank decreased their target price on shares of Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 28th. Finally, Royal Bank Of Canada cut their price target on shares of Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating on the stock in a report on Friday, November 7th. Six research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $147.00.

Extra Space Storage Stock Down 0.6%

Shares of Extra Space Storage stock opened at $130.17 on Monday. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $162.77. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.89. The stock has a 50 day moving average price of $136.21 and a two-hundred day moving average price of $141.60. The stock has a market capitalization of $27.63 billion, a P/E ratio of 29.06, a PEG ratio of 2.48 and a beta of 1.27.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.02. Extra Space Storage had a net margin of 28.40% and a return on equity of 6.56%. The business had revenue of $858.46 million during the quarter, compared to analysts’ expectations of $736.26 million. During the same period in the previous year, the company earned $2.07 earnings per share. Extra Space Storage’s revenue for the quarter was up 4.1% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. Equities analysts expect that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Monday, December 15th. Extra Space Storage’s dividend payout ratio is 144.64%.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $141.41, for a total value of $1,060,575.00. Following the transaction, the chief executive officer directly owned 19,760 shares in the company, valued at approximately $2,794,261.60. The trade was a 27.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage 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.