New York State Teachers Retirement System Boosts Stake in Extra Space Storage Inc $EXR

New York State Teachers Retirement System boosted its holdings in Extra Space Storage Inc (NYSE:EXR) by 1.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 183,429 shares of the real estate investment trust’s stock after acquiring an additional 3,397 shares during the quarter. New York State Teachers Retirement System owned 0.09% of Extra Space Storage worth $24,053,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of EXR. Cohen & Steers Inc. boosted its position in shares of Extra Space Storage by 13.4% during the 4th quarter. Cohen & Steers Inc. now owns 15,979,424 shares of the real estate investment trust’s stock valued at $2,080,971,000 after acquiring an additional 1,888,763 shares during the last quarter. State Street Corp increased its position in shares of Extra Space Storage by 1.7% in the third quarter. State Street Corp now owns 13,910,878 shares of the real estate investment trust’s stock worth $1,960,599,000 after purchasing an additional 230,697 shares during the last quarter. Norges Bank purchased a new stake in Extra Space Storage in the fourth quarter valued at approximately $1,219,606,000. Capital World Investors raised its stake in Extra Space Storage by 0.5% in the third quarter. Capital World Investors now owns 7,161,360 shares of the real estate investment trust’s stock valued at $1,009,371,000 after purchasing an additional 33,622 shares in the last quarter. Finally, Capital International Investors lifted its position in Extra Space Storage by 73.9% during the fourth quarter. Capital International Investors now owns 6,256,687 shares of the real estate investment trust’s stock valued at $814,746,000 after purchasing an additional 2,658,947 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Mizuho boosted their price target on shares of Extra Space Storage from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. BNP Paribas Exane upgraded shares of Extra Space Storage from a “neutral” rating to an “outperform” rating and set a $154.00 price objective on the stock in a research report on Wednesday, March 18th. Wall Street Zen downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Bank of America upgraded shares of Extra Space Storage from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $147.00 to $156.00 in a research report on Tuesday, June 16th. Finally, UBS Group increased their target price on Extra Space Storage from $148.00 to $158.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $153.07.

Extra Space Storage Stock Performance

NYSE EXR opened at $149.29 on Friday. The company has a 50-day simple moving average of $144.52 and a two-hundred day simple moving average of $141.08. Extra Space Storage Inc has a 12-month low of $125.71 and a 12-month high of $155.19. The firm has a market cap of $31.54 billion, a price-to-earnings ratio of 33.47, a PEG ratio of 4.63 and a beta of 1.19. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.87). The company had revenue of $856.03 million during the quarter, compared to the consensus estimate of $851.35 million. Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The company’s revenue was up 4.4% on a year-over-year basis. During the same period last year, the firm posted $2.00 EPS. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. On average, equities analysts forecast that Extra Space Storage Inc will post 8.26 EPS for the current year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $1.62 dividend. The ex-dividend date was Monday, June 15th. This represents a $6.48 annualized dividend and a yield of 4.3%. Extra Space Storage’s payout ratio is presently 145.29%.

Insiders Place Their Bets

In other news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $150.00, for a total transaction of $495,000.00. Following the completion of the sale, the executive vice president owned 37,374 shares of the company’s stock, valued at approximately $5,606,100. This represents a 8.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.96% of the company’s stock.

About Extra Space Storage

Extra Space Storage (NYSE: EXR) is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.