New York State Common Retirement Fund Has $27.94 Million Holdings in Extra Space Storage Inc. (NYSE:EXR)

New York State Common Retirement Fund lessened its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 9.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 174,273 shares of the real estate investment trust’s stock after selling 17,201 shares during the quarter. New York State Common Retirement Fund owned approximately 0.08% of Extra Space Storage worth $27,941,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in 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 worth $4,095,585,000 after buying an additional 12,055,172 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Extra Space Storage by 22.1% in the third quarter. Principal Financial Group Inc. now owns 6,505,834 shares of the real estate investment trust’s stock valued at $790,975,000 after purchasing an additional 1,178,760 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Extra Space Storage by 599.8% in the third 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 during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Extra Space Storage by 33.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,032,090 shares of the real estate investment trust’s stock valued at $368,642,000 after purchasing an additional 763,493 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Extra Space Storage by 8.4% in 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 last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several equities analysts have recently commented on EXR shares. Barclays started coverage on Extra Space Storage in a research report on Wednesday, March 27th. They issued an “overweight” rating and a $157.00 target price on the stock. Deutsche Bank Aktiengesellschaft started coverage on Extra Space Storage in a research report on Tuesday, January 30th. They issued a “hold” rating and a $141.00 target price on the stock. The Goldman Sachs Group upped their target price on Extra Space Storage from $168.00 to $187.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Scotiabank started coverage on Extra Space Storage in a research report on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 target price on the stock. Finally, StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $150.17.

Extra Space Storage Trading Down 0.2 %

Shares of EXR stock opened at $133.57 on Friday. The stock has a 50 day simple moving average of $141.87 and a 200 day simple moving average of $138.07. 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 stock has a market cap of $28.27 billion, a P/E ratio of 27.04, a price-to-earnings-growth ratio of 3.31 and a beta of 0.74.

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

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.85%. The ex-dividend date of this dividend was Thursday, March 14th. Extra Space Storage’s payout ratio is presently 131.17%.

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 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.