New York State Common Retirement Fund Has $23.11 Million Stake in Extra Space Storage Inc. (NYSE:EXR)

New York State Common Retirement Fund lowered its position in Extra Space Storage Inc. (NYSE:EXR) by 20.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 128,231 shares of the real estate investment trust’s stock after selling 32,900 shares during the period. New York State Common Retirement Fund owned 0.06% of Extra Space Storage worth $23,106,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. US Bancorp DE lifted its position in shares of Extra Space Storage by 2.0% in the 3rd quarter. US Bancorp DE now owns 27,929 shares of the real estate investment trust’s stock worth $5,033,000 after purchasing an additional 552 shares during the period. HM Payson & Co. increased its stake in shares of Extra Space Storage by 948.0% in the 3rd quarter. HM Payson & Co. now owns 1,572 shares of the real estate investment trust’s stock valued at $283,000 after acquiring an additional 1,422 shares in the last quarter. First Trust Direct Indexing L.P. increased its stake in shares of Extra Space Storage by 20.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,142 shares of the real estate investment trust’s stock valued at $1,107,000 after acquiring an additional 1,040 shares in the last quarter. Pathway Financial Advisers LLC lifted its position in shares of Extra Space Storage by 17,832.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust’s stock valued at $363,783,000 after acquiring an additional 2,007,626 shares during the period. Finally, Vanderbilt University lifted its position in shares of Extra Space Storage by 15.3% during the 3rd quarter. Vanderbilt University now owns 17,308 shares of the real estate investment trust’s stock valued at $3,119,000 after acquiring an additional 2,298 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Scotiabank boosted their target price on shares of Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a research report on Thursday, August 22nd. Jefferies Financial Group upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and boosted their target price for the company from $162.00 to $204.00 in a research report on Wednesday, September 18th. Bank of America downgraded shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $172.00 to $155.00 in a report on Monday, August 5th. Raymond James upped their price objective on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Finally, StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Extra Space Storage currently has an average rating of “Hold” and a consensus target price of $171.07.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the completion of the transaction, the chief executive officer now owns 24,190 shares in the company, valued at approximately $4,318,398.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Kenneth M. Woolley sold 6,647 shares of Extra Space Storage stock in a transaction 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 transaction, the director now directly owns 404,306 shares in the company, valued at approximately $71,655,152.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the sale, the chief executive officer now directly owns 24,190 shares in the company, valued at $4,318,398.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,970 shares of company stock worth $3,367,307. 1.36% of the stock is owned by company insiders.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $163.52 on Tuesday. The company has a market cap of $34.65 billion, a P/E ratio of 42.81, a P/E/G ratio of 6.14 and a beta of 0.88. The firm has a 50-day moving average of $173.50 and a 200-day moving average of $160.92. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.20. Extra Space Storage Inc. has a one year low of $104.88 and a one year high of $184.87.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.12). The company had revenue of $824.80 million for the quarter, compared to the consensus estimate of $826.93 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. Extra Space Storage’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.02 EPS. Equities research analysts forecast that Extra Space Storage Inc. will post 8.08 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $6.48 annualized dividend and a yield of 3.96%. Extra Space Storage’s payout ratio is currently 169.63%.

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.