State of New Jersey Common Pension Fund D Has $41.32 Million Position in Extra Space Storage Inc. (NYSE:EXR)

State of New Jersey Common Pension Fund D lessened its position in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 4.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 229,286 shares of the real estate investment trust's stock after selling 11,200 shares during the period. State of New Jersey Common Pension Fund D owned about 0.11% of Extra Space Storage worth $41,315,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in EXR. Graypoint LLC boosted its position in Extra Space Storage by 4.3% in the third quarter. Graypoint LLC now owns 1,575 shares of the real estate investment trust's stock valued at $284,000 after buying an additional 65 shares in the last quarter. Hummer Financial Advisory Services Inc boosted its holdings in shares of Extra Space Storage by 1.2% in the 3rd quarter. Hummer Financial Advisory Services Inc now owns 5,920 shares of the real estate investment trust's stock worth $1,067,000 after acquiring an additional 70 shares in the last quarter. Buckley Wealth Management LLC grew its position in Extra Space Storage by 1.9% during the 3rd quarter. Buckley Wealth Management LLC now owns 3,811 shares of the real estate investment trust's stock worth $687,000 after acquiring an additional 71 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its position in Extra Space Storage by 19.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust's stock worth $72,000 after acquiring an additional 76 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its holdings in Extra Space Storage by 4.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 1,973 shares of the real estate investment trust's stock valued at $356,000 after purchasing an additional 77 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Insider Transactions at Extra Space Storage

In related news, EVP William N. Springer sold 2,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 11,919 shares in the company, valued at approximately $2,089,758.27. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP William N. Springer sold 2,000 shares of the business's stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total value of $350,660.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the transaction, the chief executive officer now owns 24,190 shares of the company's stock, valued at approximately $4,318,398.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,970 shares of company stock valued at $3,367,307 over the last 90 days. 1.36% of the stock is owned by company insiders.

Extra Space Storage Trading Up 2.2 %

Shares of EXR stock traded up $3.56 on Friday, reaching $167.70. The company had a trading volume of 708,867 shares, compared to its average volume of 942,520. The stock has a market cap of $35.55 billion, a PE ratio of 43.90, a PEG ratio of 6.06 and a beta of 0.87. The company has a 50-day moving average of $172.62 and a 200-day moving average of $161.63. The company has a current ratio of 0.23, a quick ratio of 0.20 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 12 month low of $116.23 and a 12 month high of $184.87.

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

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $1.62 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $6.48 annualized dividend and a dividend yield of 3.86%. Extra Space Storage's dividend payout ratio (DPR) is currently 169.63%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EXR. Jefferies Financial Group upgraded Extra Space Storage from a "hold" rating to a "buy" rating and increased their target price for the stock from $162.00 to $204.00 in a report on Wednesday, September 18th. Raymond James raised their price objective on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an "outperform" rating in a research report on Tuesday, July 23rd. Evercore ISI reduced their target price on shares of Extra Space Storage from $170.00 to $168.00 and set an "in-line" rating on the stock in a research report on Monday, October 14th. KeyCorp increased their price target on shares of Extra Space Storage from $172.00 to $178.00 and gave the company an "overweight" rating in a research note on Monday, September 9th. Finally, Bank of America cut shares of Extra Space Storage from a "neutral" rating to an "underperform" rating and dropped their price objective for the stock from $172.00 to $155.00 in a research report on Monday, August 5th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $171.50.

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.