New York State Common Retirement Fund Sells 32,900 Shares of Extra Space Storage Inc. (NYSE:EXR)

New York State Common Retirement Fund cut its holdings in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 20.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 approximately 0.06% of Extra Space Storage worth $23,106,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in EXR. Vanguard Group Inc. increased its stake in Extra Space Storage by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 33,686,389 shares of the real estate investment trust's stock worth $4,951,899,000 after purchasing an additional 170,380 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Extra Space Storage by 4.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,549,231 shares of the real estate investment trust's stock worth $551,586,000 after acquiring an additional 157,763 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Extra Space Storage by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,127,012 shares of the real estate investment trust's stock valued at $485,973,000 after acquiring an additional 45,717 shares during the period. Diamond Hill Capital Management Inc. lifted its position in shares of Extra Space Storage by 7.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,965,638 shares of the real estate investment trust's stock valued at $460,890,000 after acquiring an additional 198,888 shares in the last quarter. Finally, Centersquare Investment Management LLC lifted its position in shares of Extra Space Storage by 1.3% in the 1st quarter. Centersquare Investment Management LLC now owns 2,546,475 shares of the real estate investment trust's stock valued at $341,941,000 after acquiring an additional 32,591 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of the business's stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total value of $350,660.00. Following the transaction, the executive vice president now owns 11,919 shares of the company's stock, valued at approximately $2,089,758.27. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of the business's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total value of $350,660.00. Following the completion of the transaction, the executive vice president now directly owns 11,919 shares of the company's stock, valued at approximately $2,089,758.27. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of the business's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $177.01, for a total value of $499,699.23. Following the transaction, the executive vice president now owns 32,855 shares of the company's stock, valued at $5,815,663.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,970 shares of company stock valued at $3,367,307 in the last three months. 1.36% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on EXR shares. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $175.00 target price on shares of Extra Space Storage in a research report on Monday, October 21st. Truist Financial boosted their price target on shares of Extra Space Storage from $152.00 to $167.00 and gave the company a "hold" rating in a report on Friday, August 16th. Barclays lifted their price objective on Extra Space Storage from $188.00 to $192.00 and gave the company an "overweight" rating in a research report on Monday, October 28th. Royal Bank of Canada started coverage on Extra Space Storage in a research note on Tuesday, September 10th. They set a "sector perform" rating and a $180.00 price target for the company. Finally, KeyCorp boosted their price target on Extra Space Storage from $172.00 to $178.00 and gave the company an "overweight" rating in a research note on Monday, September 9th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $171.07.

Extra Space Storage Price Performance

EXR traded up $5.15 during midday trading on Tuesday, reaching $168.67. 778,036 shares of the company's stock were exchanged, compared to its average volume of 1,038,308. Extra Space Storage Inc. has a one year low of $104.88 and a one year high of $184.87. The firm has a market capitalization of $35.75 billion, a price-to-earnings ratio of 42.92, a price-to-earnings-growth ratio of 6.06 and a beta of 0.87. The business has a 50-day simple moving average of $173.50 and a two-hundred day simple moving average of $160.92. The company has a quick ratio of 0.20, a current ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing analysts' consensus estimates of $2.03 by ($1.12). Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company had revenue of $824.80 million during the quarter, compared to the consensus estimate of $826.93 million. During the same quarter last year, the company earned $2.02 earnings per share. The business's revenue was up 10.2% on a year-over-year basis. As a group, research analysts predict that Extra Space Storage Inc. will post 8.08 EPS for the current year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend was Monday, September 16th. Extra Space Storage's dividend payout ratio (DPR) is currently 169.63%.

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.