Police & Firemen s Retirement System of New Jersey Has $4.74 Million Stock Position in Extra Space Storage Inc $EXR

Police & Firemen s Retirement System of New Jersey boosted its position in shares of Extra Space Storage Inc (NYSE:EXR) by 5.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 32,124 shares of the real estate investment trust’s stock after buying an additional 1,770 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Extra Space Storage were worth $4,736,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Signaturefd LLC lifted its holdings in Extra Space Storage by 11.8% in the first quarter. Signaturefd LLC now owns 1,168 shares of the real estate investment trust’s stock valued at $173,000 after buying an additional 123 shares during the period. Diversify Advisory Services LLC bought a new stake in shares of Extra Space Storage during the 1st quarter valued at $207,000. IFP Advisors Inc raised its position in shares of Extra Space Storage by 1,376.5% during the 1st quarter. IFP Advisors Inc now owns 1,698 shares of the real estate investment trust’s stock valued at $252,000 after acquiring an additional 1,583 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Extra Space Storage by 4.3% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 16,363 shares of the real estate investment trust’s stock valued at $2,429,000 after purchasing an additional 678 shares during the period. Finally, RD Lewis Holdings Inc. boosted its position in shares of Extra Space Storage by 2.0% in the 1st quarter. RD Lewis Holdings Inc. now owns 12,372 shares of the real estate investment trust’s stock worth $1,850,000 after purchasing an additional 238 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

EXR has been the subject of a number of recent analyst reports. Wells Fargo & Company upgraded Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 price objective for the company in a report on Tuesday, August 26th. Weiss Ratings restated a “hold (c)” rating on shares of Extra Space Storage in a research report on Wednesday, October 8th. Royal Bank Of Canada cut their price target on shares of Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating on the stock in a research report on Friday, November 7th. The Goldman Sachs Group restated a “neutral” rating and set a $146.00 price objective (down previously from $169.00) on shares of Extra Space Storage in a report on Thursday, August 21st. Finally, Scotiabank lowered their target price on shares of Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 28th. Six analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Extra Space Storage currently has a consensus rating of “Hold” and a consensus price target of $148.36.

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $141.41, for a total value of $1,060,575.00. Following the sale, the chief executive officer owned 19,760 shares of the company’s stock, valued at approximately $2,794,261.60. This trade represents a 27.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.96% of the company’s stock.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $132.89 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $175.57. The company’s 50 day moving average price is $141.77 and its two-hundred day moving average price is $144.70. The company has a market capitalization of $28.21 billion, a P/E ratio of 29.66, a price-to-earnings-growth ratio of 2.56 and a beta of 1.14.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.02. The firm had revenue of $858.46 million during the quarter, compared to analyst estimates of $736.26 million. Extra Space Storage had a net margin of 28.40% and a return on equity of 6.53%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.07 EPS. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. On average, analysts expect that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a dividend of $1.62 per share. The ex-dividend date was Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.9%. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.64%.

Extra Space Storage 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.