Elo Mutual Pension Insurance Co Raises Holdings in Extra Space Storage Inc. (NYSE:EXR)

Elo Mutual Pension Insurance Co increased its position in Extra Space Storage Inc. (NYSE:EXR) by 7.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 20,720 shares of the real estate investment trust’s stock after acquiring an additional 1,447 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Extra Space Storage were worth $3,220,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EXR. Massmutual Trust Co. FSB ADV raised its position in shares of Extra Space Storage by 19.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 76 shares during the period. QRG Capital Management Inc. lifted its position 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 acquiring an additional 78 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in shares of Extra Space Storage by 2.1% in the second quarter. Park Avenue Securities LLC now owns 3,773 shares of the real estate investment trust’s stock worth $586,000 after acquiring an additional 79 shares during the period. Gallacher Capital Management LLC grew its position in shares of Extra Space Storage by 1.2% in the second quarter. Gallacher Capital Management LLC now owns 7,433 shares of the real estate investment trust’s stock valued at $1,155,000 after purchasing an additional 86 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Extra Space Storage by 0.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,144 shares of the real estate investment trust’s stock valued at $2,820,000 after purchasing an additional 100 shares during the period. 99.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on EXR. Truist Financial raised their target price on Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Raymond James increased their target price on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada assumed coverage on shares of Extra Space Storage in a research report on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 price target for the company. Finally, Wells Fargo & Company increased their price objective on Extra Space Storage from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $170.93.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s 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 approximately $4,835,260.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Extra Space Storage news, Director Kenneth M. Woolley sold 6,647 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 404,306 shares in the company, valued at $71,655,152.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the sale, the chief executive officer now owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The disclosure for this sale can be found here. Insiders have sold 18,970 shares of company stock worth $3,172,757 over the last ninety days. Insiders own 1.36% of the company’s stock.

Extra Space Storage Price Performance

EXR opened at $180.09 on Friday. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $38.13 billion, a P/E ratio of 40.11, a PEG ratio of 2.56 and a beta of 0.86. The stock has a 50-day moving average price of $169.66 and a 200-day moving average price of $154.46. Extra Space Storage Inc. has a 12-month low of $101.19 and a 12-month high of $184.87.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend is Monday, September 16th. Extra Space Storage’s dividend payout ratio is currently 144.32%.

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.