New York State Teachers Retirement System cut its stake in shares of Extra Space Storage Inc. (NYSE:EXR – Get Rating) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 154,225 shares of the real estate investment trust’s stock after selling 1,422 shares during the quarter. New York State Teachers Retirement System owned about 0.12% of Extra Space Storage worth $22,699,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State of Michigan Retirement System grew its stake in shares of Extra Space Storage by 5.2% during the 4th quarter. State of Michigan Retirement System now owns 38,179 shares of the real estate investment trust’s stock worth $5,619,000 after purchasing an additional 1,900 shares during the period. Alta Capital Management LLC acquired a new stake in Extra Space Storage in the 4th quarter valued at about $1,798,000. Symphony Financial Ltd. Co. grew its stake in Extra Space Storage by 4.5% in the 4th quarter. Symphony Financial Ltd. Co. now owns 11,709 shares of the real estate investment trust’s stock valued at $1,692,000 after acquiring an additional 504 shares during the last quarter. FirstPurpose Wealth LLC grew its stake in Extra Space Storage by 12.8% in the 4th quarter. FirstPurpose Wealth LLC now owns 16,184 shares of the real estate investment trust’s stock valued at $2,382,000 after acquiring an additional 1,839 shares during the last quarter. Finally, Inspire Investing LLC grew its stake in Extra Space Storage by 9.9% in the 4th quarter. Inspire Investing LLC now owns 16,762 shares of the real estate investment trust’s stock valued at $2,467,000 after acquiring an additional 1,505 shares during the last quarter. 95.32% of the stock is owned by institutional investors and hedge funds.
Extra Space Storage Stock Performance
Extra Space Storage stock opened at $164.68 on Wednesday. The company has a market cap of $22.23 billion, a PE ratio of 25.69 and a beta of 0.54. The company has a fifty day moving average price of $160.39 and a two-hundred day moving average price of $158.82. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.54 and a quick ratio of 0.54. Extra Space Storage Inc. has a 12 month low of $139.97 and a 12 month high of $222.35.
Extra Space Storage Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Wednesday, March 15th were paid a dividend of $1.62 per share. This is a boost from Extra Space Storage’s previous quarterly dividend of $1.50. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date was Tuesday, March 14th. Extra Space Storage’s payout ratio is currently 101.09%.
Insider Activity at Extra Space Storage
In other Extra Space Storage news, COO Matthew T. Herrington sold 650 shares of the business’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $165.75, for a total value of $107,737.50. Following the sale, the chief operating officer now directly owns 6,405 shares in the company, valued at $1,061,628.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Extra Space Storage news, COO Matthew T. Herrington sold 650 shares of the business’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $165.75, for a total value of $107,737.50. Following the sale, the chief operating officer now directly owns 6,405 shares in the company, valued at $1,061,628.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Samrat Sondhi sold 6,290 shares of Extra Space Storage stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $161.88, for a total value of $1,018,225.20. Following the completion of the transaction, the chief marketing officer now directly owns 82,653 shares in the company, valued at approximately $13,379,867.64. The disclosure for this sale can be found here. Insiders have sold a total of 13,440 shares of company stock worth $2,172,313 over the last ninety days. 1.52% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. Wolfe Research cut shares of Extra Space Storage from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 18th. They noted that the move was a valuation call. Morgan Stanley lowered their price objective on shares of Extra Space Storage from $153.00 to $145.00 and set an “underweight” rating on the stock in a research note on Wednesday, December 14th. Truist Financial raised their price target on shares of Extra Space Storage from $160.00 to $165.00 and gave the stock a “hold” rating in a research note on Wednesday, March 8th. Raymond James raised shares of Extra Space Storage from an “outperform” rating to a “strong-buy” rating and set a $185.00 price target on the stock in a research note on Tuesday, April 4th. Finally, JPMorgan Chase & Co. cut shares of Extra Space Storage from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $177.00 to $167.00 in a research note on Friday, December 16th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and a consensus price target of $170.56.
Extra Space Storage Profile
Extra Space Storage, Inc is a real estate investment trust. It operates through the following segments: Self-Storage Operations and Tenant Reinsurance. The Self-Storage Operations segment includes rental operations of wholly-owned stores. The Tenant Reinsurance segment includes reinsurance of risks relating to the loss of goods stored by tenants in stores.
Read More
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