Extra Space Storage Inc (NYSE:EXR) Stock Holdings Lifted by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 1.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 127,149 shares of the real estate investment trust's stock after acquiring an additional 1,916 shares during the period. State of Alaska Department of Revenue owned about 0.06% of Extra Space Storage worth $18,879,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Extra Space Storage during the 4th quarter worth approximately $938,647,000. Northern Trust Corp grew its stake in Extra Space Storage by 48.7% during the 4th quarter. Northern Trust Corp now owns 2,875,049 shares of the real estate investment trust's stock worth $430,107,000 after buying an additional 941,212 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in Extra Space Storage in the fourth quarter worth $107,453,000. Cbre Investment Management Listed Real Assets LLC lifted its stake in Extra Space Storage by 91.2% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,089,753 shares of the real estate investment trust's stock valued at $163,027,000 after buying an additional 519,934 shares during the last quarter. Finally, Cohen & Steers Inc. boosted its holdings in shares of Extra Space Storage by 5.9% during the fourth quarter. Cohen & Steers Inc. now owns 9,246,133 shares of the real estate investment trust's stock valued at $1,383,094,000 after acquiring an additional 516,941 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Price Performance

EXR traded down $1.50 during trading on Thursday, reaching $146.39. The stock had a trading volume of 947,090 shares, compared to its average volume of 1,051,311. The stock has a 50 day moving average of $146.17 and a two-hundred day moving average of $149.38. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $31.06 billion, a price-to-earnings ratio of 33.96, a price-to-earnings-growth ratio of 3.56 and a beta of 1.11. Extra Space Storage Inc has a 1-year low of $121.03 and a 1-year high of $184.87.

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

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $6.48 annualized dividend and a dividend yield of 4.43%. Extra Space Storage's dividend payout ratio is currently 150.35%.

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total value of $1,105,875.00. Following the transaction, the chief executive officer now directly owns 9,190 shares in the company, valued at $1,355,065.50. The trade was a 44.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Scotiabank increased their price objective on shares of Extra Space Storage from $149.00 to $166.00 and gave the stock a "sector outperform" rating in a report on Monday, May 12th. Bank of America upped their target price on shares of Extra Space Storage from $155.00 to $161.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Wells Fargo & Company dropped their price target on shares of Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating on the stock in a research note on Friday, February 21st. Wall Street Zen upgraded Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. increased their price objective on Extra Space Storage from $160.00 to $162.00 and gave the stock a "neutral" rating in a report on Friday, June 13th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Extra Space Storage currently has an average rating of "Moderate Buy" and an average price target of $159.54.

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.