Nisa Investment Advisors LLC Reduces Holdings in Extra Space Storage Inc. (NYSE:EXR)

Nisa Investment Advisors LLC reduced its stake in Extra Space Storage Inc. (NYSE:EXR) by 5.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. State Street Corp grew its stake in Extra Space Storage by 1.7% during the 3rd quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust’s stock valued at $2,412,894,000 after purchasing an additional 227,006 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Extra Space Storage by 4.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,366,107 shares of the real estate investment trust’s stock valued at $426,349,000 after acquiring an additional 111,137 shares during the period. Daiwa Securities Group Inc. lifted its position in Extra Space Storage by 10.4% during the third quarter. Daiwa Securities Group Inc. now owns 2,020,459 shares of the real estate investment trust’s stock valued at $364,066,000 after purchasing an additional 189,949 shares during the period. Pathway Financial Advisers LLC lifted its holdings in shares of Extra Space Storage by 17,832.9% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust’s stock valued at $363,783,000 after buying an additional 2,007,626 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Extra Space Storage by 724.1% during the third 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 valued at $357,100,000 after acquiring an additional 1,741,320 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Trading Down 1.2 %

Shares of EXR stock opened at $150.04 on Thursday. Extra Space Storage Inc. has a fifty-two week low of $131.02 and a fifty-two week high of $184.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The stock’s fifty day moving average is $156.73 and its two-hundred day moving average is $164.94. The firm has a market capitalization of $31.80 billion, a P/E ratio of 39.28, a PEG ratio of 7.50 and a beta of 0.91.

Extra Space Storage (NYSE:EXR) last posted its quarterly 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 net margin of 25.35% and a return on equity of 5.51%. The company had revenue of $824.80 million during the quarter, compared to analysts’ expectations of $826.93 million. During the same quarter last year, the company earned $2.02 earnings per share. Extra Space Storage’s revenue for the quarter was up 10.2% on a year-over-year basis. Research analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

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

Insider Activity

In related news, Director Diane Olmstead sold 3,081 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $164.56, for a total value of $507,009.36. Following the sale, the director now directly owns 5,877 shares in the company, valued at approximately $967,119.12. The trade was a 34.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the 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 transaction, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on EXR shares. Truist Financial upped their price objective on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Evercore ISI cut their price objective on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a report on Monday, October 14th. Barclays decreased their price objective on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Wells Fargo & Company restated an “equal weight” rating and issued a $175.00 price target on shares of Extra Space Storage in a research note on Monday, October 21st. Finally, StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $171.25.

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.