Teachers Retirement System of The State of Kentucky Sells 6,004 Shares of Extra Space Storage Inc. (NYSE:EXR)

Teachers Retirement System of The State of Kentucky trimmed its holdings in Extra Space Storage Inc. (NYSE:EXR) by 23.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,350 shares of the real estate investment trust’s stock after selling 6,004 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Extra Space Storage were worth $3,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in Extra Space Storage by 55.7% during the 3rd quarter. Vanguard Group Inc. now owns 33,686,341 shares of the real estate investment trust’s stock valued at $4,095,585,000 after purchasing an additional 12,055,172 shares in the last quarter. Principal Financial Group Inc. increased its stake in Extra Space Storage by 8.9% during the 4th quarter. Principal Financial Group Inc. now owns 7,083,752 shares of the real estate investment trust’s stock valued at $1,135,738,000 after purchasing an additional 577,918 shares in the last quarter. Norges Bank bought a new stake in Extra Space Storage during the 4th quarter valued at about $1,022,811,000. JPMorgan Chase & Co. increased its stake in Extra Space Storage by 599.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,345,787 shares of the real estate investment trust’s stock valued at $406,781,000 after purchasing an additional 2,867,657 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Extra Space Storage by 6.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,219,030 shares of the real estate investment trust’s stock valued at $516,107,000 after purchasing an additional 186,940 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Stock Performance

EXR opened at $159.28 on Thursday. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.73. The company has a market cap of $33.72 billion, a price-to-earnings ratio of 35.47, a PEG ratio of 3.72 and a beta of 0.81. The company’s 50 day moving average is $144.25 and its 200 day moving average is $145.92. Extra Space Storage Inc. has a 12-month low of $101.19 and a 12-month high of $164.99.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Friday, June 14th. Extra Space Storage’s dividend payout ratio is currently 144.32%.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, Director Joseph J. Bonner sold 677 shares of Extra Space Storage stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $148.22, for a total transaction of $100,344.94. Following the transaction, the director now owns 5,229 shares of the company’s stock, valued at $775,042.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Citigroup reduced their price objective on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Raymond James reaffirmed an “outperform” rating and set a $160.00 price target on shares of Extra Space Storage in a report on Thursday, March 28th. Wells Fargo & Company raised their price target on shares of Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Evercore ISI dropped their price target on shares of Extra Space Storage from $145.00 to $139.00 in a report on Wednesday, May 1st. Finally, StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. 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 company. According to data from MarketBeat, Extra Space Storage has an average rating of “Hold” and a consensus target price of $151.83.

Extra Space Storage 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.