New York State Common Retirement Fund Boosts Position in Extra Space Storage Inc (NYSE:EXR)

New York State Common Retirement Fund boosted its stake in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 4.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,731 shares of the real estate investment trust's stock after purchasing an additional 5,000 shares during the quarter. New York State Common Retirement Fund owned about 0.06% of Extra Space Storage worth $18,967,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harbour Investments Inc. lifted its position in Extra Space Storage by 90.9% during the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 80 shares during the period. Quarry LP raised its position in Extra Space Storage by 156.1% in the fourth quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 217 shares during the last quarter. Golden State Wealth Management LLC grew its stake in shares of Extra Space Storage by 147.0% in the first quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust's stock worth $60,000 after purchasing an additional 241 shares during the last quarter. Parvin Asset Management LLC bought a new position in Extra Space Storage during the 4th quarter worth $62,000. Finally, Wayfinding Financial LLC bought a new position in Extra Space Storage during the 1st quarter worth $76,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total value of $1,127,625.00. Following the sale, the chief executive officer directly owned 27,260 shares of the company's stock, valued at $4,098,541. The trade was a 21.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.96% of the company's stock.

Extra Space Storage Price Performance

Shares of EXR traded up $0.80 during midday trading on Friday, reaching $148.07. The stock had a trading volume of 761,317 shares, compared to its average volume of 1,076,806. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $31.42 billion, a price-to-earnings ratio of 34.36, a price-to-earnings-growth ratio of 3.59 and a beta of 1.10. The company's 50-day moving average is $148.92 and its 200 day moving average is $148.37. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.04. Extra Space Storage had a net margin of 27.84% and a return on equity of 6.11%. The company had revenue of $820.00 million during the quarter, compared to analyst estimates of $705.12 million. During the same period in the prior year, the business posted $1.96 EPS. The firm's revenue was up 2.6% compared to the same quarter last year. On average, equities analysts predict that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a $1.62 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $6.48 dividend on an annualized basis and a yield of 4.38%. Extra Space Storage's dividend payout ratio (DPR) is 150.35%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on EXR shares. BNP Paribas Exane initiated coverage on Extra Space Storage in a research report on Tuesday, June 24th. They issued a "neutral" rating and a $156.00 price objective for the company. Benchmark lowered their target price on Extra Space Storage from $61.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Mizuho increased their price target on Extra Space Storage from $141.00 to $153.00 and gave the stock an "outperform" rating in a report on Wednesday, May 28th. JPMorgan Chase & Co. raised their price objective on shares of Extra Space Storage from $160.00 to $162.00 and gave the stock a "neutral" rating in a research report on Friday, June 13th. Finally, Royal Bank Of Canada dropped their target price on shares of Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 1st. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, Extra Space Storage currently has a consensus rating of "Hold" and an average price target of $159.29.

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.