South Dakota Investment Council Buys 475 Shares of Extra Space Storage Inc. (NYSE:EXR)

South Dakota Investment Council boosted its stake in Extra Space Storage Inc. (NYSE:EXR) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,984 shares of the real estate investment trust’s stock after acquiring an additional 475 shares during the quarter. South Dakota Investment Council’s holdings in Extra Space Storage were worth $6,731,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Extra Space Storage by 17.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,087 shares of the real estate investment trust’s stock valued at $18,933,000 after buying an additional 17,163 shares in the last quarter. NewEdge Wealth LLC acquired a new position in Extra Space Storage in the third quarter valued at $341,000. Vanguard Personalized Indexing Management LLC lifted its holdings in Extra Space Storage by 110.8% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,914 shares of the real estate investment trust’s stock valued at $1,448,000 after buying an additional 6,262 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Extra Space Storage by 8.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,724,293 shares of the real estate investment trust’s stock valued at $436,786,000 after purchasing an additional 211,395 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Extra Space Storage by 55.7% during the third 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 during the period. 99.11% of the stock is owned by institutional investors.

Insider Transactions at Extra Space Storage

In other news, CMO Samrat Sondhi sold 2,048 shares of Extra Space Storage stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the sale, the chief marketing officer now owns 94,126 shares in the company, valued at $13,785,693.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CMO Samrat Sondhi sold 2,048 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the completion of the sale, the chief marketing officer now owns 94,126 shares of the company’s stock, valued at $13,785,693.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $145.00, for a total transaction of $195,750.00. Following the sale, the executive vice president now directly owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The disclosure for this sale can be found here. Insiders have sold a total of 3,532 shares of company stock worth $514,819 in the last three months. Company insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

EXR has been the subject of a number of recent analyst reports. Raymond James reaffirmed an “outperform” rating and issued a $160.00 price objective on shares of Extra Space Storage in a research report on Thursday, March 28th. Scotiabank started coverage on shares of Extra Space Storage in a research note on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 target price on the stock. Wells Fargo & Company raised their price objective on shares of Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Deutsche Bank Aktiengesellschaft began coverage on shares of Extra Space Storage in a report on Tuesday, January 30th. They set a “hold” rating and a $141.00 target price on the stock. Finally, The Goldman Sachs Group raised their target price on shares of Extra Space Storage from $168.00 to $187.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $150.17.

Extra Space Storage Stock Performance

EXR stock traded up $1.74 on Wednesday, hitting $135.02. The company’s stock had a trading volume of 692,756 shares, compared to its average volume of 1,169,600. The stock has a market cap of $28.57 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 3.26 and a beta of 0.74. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.71. Extra Space Storage Inc. has a 1 year low of $101.19 and a 1 year high of $164.99. The firm has a 50 day moving average of $142.28 and a two-hundred day moving average of $138.03.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). The company had revenue of $797.77 million during the quarter, compared to analysts’ expectations of $778.05 million. Extra Space Storage had a net margin of 31.81% and a return on equity of 8.34%. The business’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.09 EPS. Equities analysts predict that Extra Space Storage Inc. will post 8.05 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.80%. Extra Space Storage’s payout ratio is currently 131.17%.

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.