New York State Teachers Retirement System Has $26.53 Million Position in Extra Space Storage Inc (NYSE:EXR)

New York State Teachers Retirement System trimmed its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 3.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,663 shares of the real estate investment trust's stock after selling 6,602 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Extra Space Storage worth $26,530,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Harbour Investments Inc. boosted its position in Extra Space Storage by 90.9% during the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 80 shares during the period. Quarry LP raised its stake in shares of Extra Space Storage by 156.1% during 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 in the last quarter. Golden State Wealth Management LLC lifted its holdings in 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 period. Parvin Asset Management LLC bought a new position in Extra Space Storage in the 4th quarter valued at about $62,000. Finally, Lindbrook Capital LLC increased its stake in Extra Space Storage by 14.9% during the 4th quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust's stock valued at $78,000 after buying an additional 68 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Stock Up 0.6%

NYSE EXR traded up $0.99 during trading on Thursday, reaching $152.77. 835,966 shares of the company's stock were exchanged, compared to its average volume of 1,062,376. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.85. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $184.87. The company's fifty day simple moving average is $148.05 and its 200-day simple moving average is $148.34. The firm has a market capitalization of $32.42 billion, a PE ratio of 35.44, a P/E/G ratio of 3.69 and a beta of 1.10.

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, topping the consensus estimate 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 business had revenue of $820.00 million during the quarter, compared to analysts' expectations of $705.12 million. During the same period last year, the company posted $1.96 earnings per share. The firm's quarterly revenue was up 2.6% compared to the same quarter last year. Sell-side analysts predict that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend was Monday, June 16th. Extra Space Storage's dividend payout ratio (DPR) is currently 150.35%.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the completion of the sale, the chief executive officer directly owned 27,260 shares in the company, valued at approximately $4,098,541. This trade represents a 21.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.96% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EXR. Wall Street Zen raised shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Wednesday, April 30th. Evercore ISI upped their target price on Extra Space Storage from $144.00 to $149.00 and gave the stock an "in-line" rating in a research report on Thursday, May 1st. Royal Bank Of Canada dropped their price target on Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating on the stock in a report on Thursday, May 1st. Barclays reduced their price objective on Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Finally, BNP Paribas Exane initiated coverage on Extra Space Storage in a research report on Tuesday, June 24th. They set a "neutral" rating and a $156.00 target price on the stock. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $159.29.

Extra Space Storage 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.