New York State Teachers Retirement System Sells 11,440 Shares of Extra Space Storage Inc. (NYSE:EXR)

New York State Teachers Retirement System reduced its stake in Extra Space Storage Inc. (NYSE:EXR) by 5.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 195,459 shares of the real estate investment trust’s stock after selling 11,440 shares during the quarter. New York State Teachers Retirement System owned 0.09% of Extra Space Storage worth $30,376,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Elser Financial Planning Inc purchased a new position in Extra Space Storage in the second quarter valued at about $240,000. Fifth Third Wealth Advisors LLC bought a new stake in shares of Extra Space Storage in the 2nd quarter worth approximately $253,000. Atria Wealth Solutions Inc. lifted its stake in Extra Space Storage by 243.7% in the second quarter. Atria Wealth Solutions Inc. now owns 24,206 shares of the real estate investment trust’s stock valued at $3,762,000 after purchasing an additional 17,163 shares during the last quarter. Fifth Third Bancorp grew its holdings in Extra Space Storage by 1.3% during the second quarter. Fifth Third Bancorp now owns 9,943 shares of the real estate investment trust’s stock valued at $1,545,000 after purchasing an additional 130 shares during the period. Finally, Commerzbank Aktiengesellschaft FI increased its position in Extra Space Storage by 61.6% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 3,905 shares of the real estate investment trust’s stock worth $607,000 after buying an additional 1,489 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on EXR. Citigroup cut their price target on Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Scotiabank upped their price target on shares of Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a research note on Thursday. Barclays raised their price objective on shares of Extra Space Storage from $158.00 to $188.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Truist Financial boosted their target price 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. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Extra Space Storage has a consensus rating of “Hold” and an average target price of $165.25.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, Director Joseph J. Bonner sold 677 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $148.22, for a total value of $100,344.94. Following the completion of the transaction, the director now owns 5,229 shares of the company’s stock, valued at approximately $775,042.38. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Extra Space Storage news, Director Joseph J. Bonner sold 677 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $148.22, for a total transaction of $100,344.94. Following the sale, the director now owns 5,229 shares in the company, valued at $775,042.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the completion of the transaction, the chief executive officer now owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by insiders.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $178.22 on Friday. The stock has a market cap of $37.73 billion, a price-to-earnings ratio of 39.69, a PEG ratio of 3.37 and a beta of 0.83. The company has a quick ratio of 0.15, a current ratio of 0.20 and a debt-to-equity ratio of 0.76. The business has a 50-day simple moving average of $161.72 and a 200 day simple moving average of $149.76. Extra Space Storage Inc. has a 52 week low of $101.19 and a 52 week high of $178.63.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Monday, September 16th. Extra Space Storage’s dividend payout ratio (DPR) is 144.32%.

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.