New Mexico Educational Retirement Board Decreases Stake in Extra Space Storage Inc. (NYSE:EXR)

New Mexico Educational Retirement Board cut its holdings in Extra Space Storage Inc. (NYSE:EXR) by 2.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 10,100 shares of the real estate investment trust’s stock after selling 300 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Extra Space Storage were worth $1,511,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new stake in Extra Space Storage during the fourth quarter worth $25,000. Ashton Thomas Securities LLC purchased a new stake in Extra Space Storage during the third quarter worth $33,000. Harvest Fund Management Co. Ltd purchased a new stake in Extra Space Storage during the third quarter worth $42,000. Quent Capital LLC boosted its position in Extra Space Storage by 89.0% during the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 154 shares in the last quarter. Finally, Asset Planning Inc purchased a new stake in Extra Space Storage during the fourth quarter worth $52,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total transaction 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 approximately $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

Extra Space Storage stock opened at $154.96 on Monday. The firm has a market capitalization of $32.85 billion, a P/E ratio of 40.57, a PEG ratio of 7.77 and a beta of 0.91. The stock has a fifty day moving average price of $152.13 and a 200 day moving average price of $163.97. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77.

Analysts Set New Price Targets

A number of analysts have commented on EXR shares. Scotiabank upgraded 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. StockNews.com upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. Truist Financial boosted their price target on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Wells Fargo & Company reissued an “equal weight” rating and issued a $175.00 price target on shares of Extra Space Storage in a report on Monday, October 21st. Finally, Barclays cut their price target on 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 equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Extra Space Storage presently has an average rating of “Hold” and an average target price of $174.00.

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.