State of New Jersey Common Pension Fund D Sells 2,000 Shares of Extra Space Storage Inc. (NYSE:EXR)

State of New Jersey Common Pension Fund D cut its stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 227,286 shares of the real estate investment trust's stock after selling 2,000 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.11% of Extra Space Storage worth $34,002,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Graypoint LLC increased its stake in shares of 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 worth $284,000 after acquiring an additional 65 shares during the last quarter. Wedge Capital Management L L P NC increased its position in Extra Space Storage by 1.3% during the fourth quarter. Wedge Capital Management L L P NC now owns 5,138 shares of the real estate investment trust's stock worth $769,000 after buying an additional 68 shares during the last quarter. Buckley Wealth Management LLC increased its position in Extra Space Storage by 1.9% during the third quarter. Buckley Wealth Management LLC now owns 3,811 shares of the real estate investment trust's stock worth $687,000 after buying an additional 71 shares during the last quarter. Bleakley Financial Group LLC increased its position in Extra Space Storage by 4.1% during the third quarter. Bleakley Financial Group LLC now owns 1,973 shares of the real estate investment trust's stock worth $356,000 after buying an additional 77 shares during the last quarter. Finally, Aptus Capital Advisors LLC increased its position in Extra Space Storage by 5.5% during the third quarter. Aptus Capital Advisors LLC now owns 1,570 shares of the real estate investment trust's stock worth $283,000 after buying an additional 82 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Price Performance

Shares of NYSE EXR traded down $0.93 during mid-day trading on Wednesday, hitting $154.01. 671,486 shares of the stock were exchanged, compared to its average volume of 1,216,062. The company has a market cap of $32.65 billion, a P/E ratio of 40.33, a PEG ratio of 7.71 and a beta of 0.91. The stock's fifty day simple moving average is $151.94 and its two-hundred day simple moving average is $163.94. 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 twelve month low of $131.02 and a twelve month high of $184.87.

Analyst Upgrades and Downgrades

EXR has been the topic of several analyst reports. Scotiabank raised shares of Extra Space Storage from a "sector underperform" rating to a "sector perform" rating and set a $167.00 target price on the stock in a research report on Friday, January 10th. Truist Financial increased their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a "hold" rating in a research report on Thursday, December 5th. StockNews.com raised shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Tuesday, January 28th. Finally, Barclays decreased their price target on shares of Extra Space Storage from $192.00 to $184.00 and set an "overweight" rating for the company in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Extra Space Storage presently has an average rating of "Hold" and a consensus target price of $174.00.

Insider Activity at Extra Space Storage

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 completion of 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 document filed with the SEC, which is available at the SEC website. 1.36% of the stock is currently owned by company insiders.

About Extra Space Storage

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.