Supplemental Annuity Collective Trust of NJ Invests $216,000 in Extra Space Storage Inc. (NYSE:EXR)

Supplemental Annuity Collective Trust of NJ bought a new stake in shares of Extra Space Storage Inc. (NYSE:EXR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,350 shares of the real estate investment trust’s stock, valued at approximately $216,000.

Several other institutional investors have also added to or reduced their stakes in the business. Zions Bancorporation N.A. grew its holdings in Extra Space Storage by 241.9% during the third quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 150 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Extra Space Storage by 162.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 143 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Extra Space Storage in the 3rd quarter worth approximately $32,000. Anchor Investment Management LLC bought a new stake in Extra Space Storage during the 4th quarter worth approximately $35,000. Finally, Riverview Trust Co purchased a new position in Extra Space Storage during the third quarter valued at approximately $38,000. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Stock Down 0.2 %

Shares of NYSE:EXR traded down $0.26 during trading on Friday, reaching $133.57. The stock had a trading volume of 716,541 shares, compared to its average volume of 1,167,928. The firm’s 50-day simple moving average is $142.03 and its 200 day simple moving average is $137.98. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.71. Extra Space Storage Inc. has a one year low of $101.19 and a one year high of $164.99. The company has a market capitalization of $28.27 billion, a P/E ratio of 27.09, a PEG ratio of 3.31 and a beta of 0.74.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.01). The firm had revenue of $797.77 million during the quarter, compared to analysts’ expectations of $778.05 million. Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. Extra Space Storage’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.09 earnings per share. As a group, research analysts expect that Extra Space Storage Inc. will post 8.05 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.85%. The ex-dividend date of this dividend was Thursday, March 14th. Extra Space Storage’s payout ratio is 131.17%.

Analyst Ratings Changes

Several analysts have recently commented on EXR shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Extra Space Storage in a research report on Tuesday, January 30th. They set a “hold” rating and a $141.00 price objective on the stock. Truist Financial increased their target price on Extra Space Storage from $138.00 to $152.00 and gave the stock a “hold” rating in a research report on Thursday, December 28th. Wells Fargo & Company boosted their price target on Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Barclays began coverage on shares of Extra Space Storage in a report on Wednesday, March 27th. They set an “overweight” rating and a $157.00 price objective for the company. Finally, TheStreet upgraded shares of Extra Space Storage from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and an average target price of $150.17.

Insider Activity

In other news, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $146.46, for a total value of $299,950.08. Following the sale, the chief marketing officer now owns 94,126 shares in the company, valued at $13,785,693.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $145.00, for a total value of $195,750.00. Following the completion of the sale, the executive vice president now directly owns 37,028 shares in the company, valued at $5,369,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Samrat Sondhi sold 2,048 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the completion of the sale, the chief marketing officer now directly owns 94,126 shares of the company’s stock, valued at approximately $13,785,693.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,532 shares of company stock valued at $514,819. Company insiders own 1.36% of the company’s stock.

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.