Texas Permanent School Fund Corp increased its stake in Extra Space Storage Inc. (NYSE:EXR – Free Report) by 54.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,649 shares of the real estate investment trust’s stock after acquiring an additional 15,384 shares during the period. Texas Permanent School Fund Corp’s holdings in Extra Space Storage were worth $5,307,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strs Ohio boosted its position in Extra Space Storage by 18.0% during the second quarter. Strs Ohio now owns 182,962 shares of the real estate investment trust’s stock valued at $27,233,000 after buying an additional 27,930 shares during the period. NewEdge Wealth LLC purchased a new stake in Extra Space Storage during the third quarter valued at about $341,000. Vanguard Personalized Indexing Management LLC boosted its position in Extra Space Storage by 110.8% during 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. Russell Investments Group Ltd. boosted its position in Extra Space Storage by 39.4% during the second quarter. Russell Investments Group Ltd. now owns 392,036 shares of the real estate investment trust’s stock valued at $58,312,000 after buying an additional 110,811 shares during the period. Finally, Spirit of America Management Corp NY boosted its position in Extra Space Storage by 166.7% during the third quarter. Spirit of America Management Corp NY now owns 35,730 shares of the real estate investment trust’s stock valued at $4,344,000 after buying an additional 22,335 shares during the period. 66.40% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Extra Space Storage
In other Extra Space Storage news, Director Joseph Saffire sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $139.32, for a total transaction of $1,393,200.00. Following the completion of the transaction, the director now owns 82,344 shares of the company’s stock, valued at $11,472,166.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.55% of the company’s stock.
Extra Space Storage Price Performance
Extra Space Storage Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were paid a dividend of $1.62 per share. This is an increase from Extra Space Storage’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.56%. Extra Space Storage’s dividend payout ratio (DPR) is currently 119.12%.
Analysts Set New Price Targets
Several research firms have issued reports on EXR. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday. Morgan Stanley raised shares of Extra Space Storage from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $115.00 to $150.00 in a research note on Thursday, December 21st. Wells Fargo & Company raised shares of Extra Space Storage from an “underweight” rating to an “overweight” rating and upped their price objective for the company from $120.00 to $155.00 in a research note on Tuesday, December 12th. TheStreet raised shares of Extra Space Storage from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Finally, Stifel Nicolaus lowered their price objective on shares of Extra Space Storage from $185.00 to $165.00 and set a “buy” rating for the company in a research note on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $151.45.
Extra Space Storage Company 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 September 30, 2023, the Company owned and/or operated 3,651 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.5 million units and approximately 279.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.
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