Extra Space Storage Inc. (NYSE:EXR) Shares Acquired by New York Life Investment Management LLC

New York Life Investment Management LLC grew its holdings in Extra Space Storage Inc. (NYSE:EXR) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,547 shares of the real estate investment trust’s stock after buying an additional 354 shares during the period. New York Life Investment Management LLC’s holdings in Extra Space Storage were worth $4,719,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. increased its position in Extra Space Storage by 34.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,985 shares of the real estate investment trust’s stock worth $718,000 after purchasing an additional 1,028 shares during the last quarter. First Trust Direct Indexing L.P. increased its position in Extra Space Storage by 20.4% during the third quarter. First Trust Direct Indexing L.P. now owns 6,142 shares of the real estate investment trust’s stock worth $1,107,000 after purchasing an additional 1,040 shares during the last quarter. HM Payson & Co. increased its position in Extra Space Storage by 948.0% during the third quarter. HM Payson & Co. now owns 1,572 shares of the real estate investment trust’s stock worth $283,000 after purchasing an additional 1,422 shares during the last quarter. US Bancorp DE increased its position in Extra Space Storage by 2.0% during the third quarter. US Bancorp DE now owns 27,929 shares of the real estate investment trust’s stock worth $5,033,000 after purchasing an additional 552 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in Extra Space Storage by 39.6% during the third quarter. Farther Finance Advisors LLC now owns 1,277 shares of the real estate investment trust’s stock worth $230,000 after purchasing an additional 362 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on EXR shares. Wells Fargo & Company cut their price objective on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. Barclays cut their price objective on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada lowered their target price on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research note on Thursday. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Finally, Scotiabank raised shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 target price for the company in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $171.55.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the sale, the chief executive officer now owns 16,690 shares of the company’s stock, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.36% of the company’s stock.

Extra Space Storage Trading Down 0.7 %

NYSE EXR opened at $152.36 on Friday. The firm has a 50 day simple moving average of $152.27 and a 200-day simple moving average of $163.47. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. Extra Space Storage Inc. has a one year low of $131.02 and a one year high of $184.87. The firm has a market cap of $32.30 billion, a price-to-earnings ratio of 39.88, a PEG ratio of 7.76 and a beta of 0.91.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, beating the consensus estimate of $1.10 by $0.93. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. Equities research 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, March 31st. Stockholders of record on Friday, March 14th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s payout ratio is 160.40%.

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.