California Public Employees Retirement System Sells 14,559 Shares of Extra Space Storage Inc $EXR

California Public Employees Retirement System cut its holdings in Extra Space Storage Inc (NYSE:EXR) by 3.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 371,042 shares of the real estate investment trust’s stock after selling 14,559 shares during the quarter. California Public Employees Retirement System’s holdings in Extra Space Storage were worth $48,655,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. NewEdge Advisors LLC lifted its stake in shares of Extra Space Storage by 9.3% in the 1st quarter. NewEdge Advisors LLC now owns 3,409 shares of the real estate investment trust’s stock valued at $506,000 after purchasing an additional 291 shares during the last quarter. Empowered Funds LLC boosted its holdings in Extra Space Storage by 15.5% in the first quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust’s stock worth $729,000 after purchasing an additional 661 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Extra Space Storage during the second quarter worth $457,000. First Trust Advisors LP raised its holdings in Extra Space Storage by 184.1% during the second quarter. First Trust Advisors LP now owns 108,205 shares of the real estate investment trust’s stock valued at $15,954,000 after buying an additional 70,115 shares in the last quarter. Finally, Brown Advisory Inc. raised its holdings in Extra Space Storage by 1.8% during the second quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock valued at $653,000 after buying an additional 80 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Truist Financial upped their price target on Extra Space Storage from $140.00 to $148.00 and gave the stock a “hold” rating in a research note on Wednesday, June 17th. Barclays boosted their target price on Extra Space Storage from $170.00 to $172.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Wells Fargo & Company upped their target price on Extra Space Storage from $148.00 to $154.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Mizuho increased their price target on Extra Space Storage from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Finally, UBS Group lifted their price target on shares of Extra Space Storage from $158.00 to $163.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Six investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $146.27.

Extra Space Storage Price Performance

NYSE:EXR opened at $147.35 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37. Extra Space Storage Inc has a one year low of $125.71 and a one year high of $155.19. The company has a fifty day moving average price of $145.36 and a 200 day moving average price of $142.32. The stock has a market cap of $31.13 billion, a P/E ratio of 33.04, a PEG ratio of 4.59 and a beta of 1.19.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.87). Extra Space Storage had a return on equity of 6.65% and a net margin of 27.66%.The company had revenue of $856.03 million during the quarter, compared to analyst estimates of $851.35 million. During the same quarter in the prior year, the business earned $2.00 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Analysts anticipate that Extra Space Storage Inc will post 8.26 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.4%. The ex-dividend date was Monday, June 15th. Extra Space Storage’s payout ratio is currently 145.29%.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $150.00, for a total value of $495,000.00. Following the completion of the transaction, the executive vice president owned 37,374 shares of the company’s stock, valued at $5,606,100. This represents a 8.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.96% of the stock is owned by corporate insiders.

About Extra Space Storage

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.