Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lessened its position in Extra Space Storage Inc. (NYSE:EXR) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 104,054 shares of the real estate investment trust’s stock after selling 5,815 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Extra Space Storage were worth $15,566,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Pathway Financial Advisers LLC increased its stake in Extra Space Storage by 17,832.9% during the third quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust’s stock worth $363,783,000 after purchasing an additional 2,007,626 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Extra Space Storage by 724.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust’s stock worth $357,100,000 after buying an additional 1,741,320 shares during the period. Mizuho Securities USA LLC lifted its holdings in Extra Space Storage by 1,664.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 288,094 shares of the real estate investment trust’s stock worth $51,912,000 after buying an additional 271,765 shares in the last quarter. Hamlin Capital Management LLC boosted its position in Extra Space Storage by 44.8% in the 3rd quarter. Hamlin Capital Management LLC now owns 766,043 shares of the real estate investment trust’s stock valued at $138,033,000 after buying an additional 236,908 shares during the period. Finally, State Street Corp grew its stake in shares of Extra Space Storage by 1.7% in the third quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust’s stock worth $2,412,894,000 after acquiring an additional 227,006 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Stock Down 1.2 %

Shares of NYSE EXR opened at $150.04 on Thursday. The business has a 50-day moving average price of $156.73 and a 200 day moving average price of $164.94. The stock has a market cap of $31.80 billion, a PE ratio of 39.28, a price-to-earnings-growth ratio of 7.50 and a beta of 0.91. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $824.80 million for the quarter, compared to analysts’ expectations of $826.93 million. During the same quarter last year, the business posted $2.02 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. Equities research analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date was Monday, December 16th. Extra Space Storage’s dividend payout ratio is currently 169.63%.

Insider Activity at Extra Space Storage

In other news, Director Diane Olmstead sold 3,081 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $164.56, for a total transaction of $507,009.36. Following the completion of the sale, the director now owns 5,877 shares in the company, valued at $967,119.12. This represents a 34.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the completion of the transaction, the chief executive officer now directly owns 16,690 shares in the company, valued at $2,470,286.90. This represents a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on EXR. Wells Fargo & Company reiterated an “equal weight” rating and issued a $175.00 price objective on shares of Extra Space Storage in a research note on Monday, October 21st. Scotiabank upgraded Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective for the company in a research note on Friday, January 10th. Evercore ISI cut 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 note on Monday, October 14th. Truist Financial lifted their price target on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Finally, StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $171.25.

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.