Nisa Investment Advisors LLC Sells 3,042 Shares of Extra Space Storage Inc (NYSE:EXR)

Nisa Investment Advisors LLC lowered its position in Extra Space Storage Inc (NYSE:EXR - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,012 shares of the real estate investment trust's stock after selling 3,042 shares during the period. Nisa Investment Advisors LLC's holdings in Extra Space Storage were worth $14,999,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Harbour Investments Inc. increased its stake in Extra Space Storage by 90.9% in the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 80 shares during the last quarter. Quarry LP increased its position in shares of Extra Space Storage by 156.1% during the fourth quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock valued at $53,000 after acquiring an additional 217 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in Extra Space Storage by 147.0% during the first quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust's stock worth $60,000 after acquiring an additional 241 shares during the period. Parvin Asset Management LLC purchased a new position in Extra Space Storage in the fourth quarter worth $62,000. Finally, Wayfinding Financial LLC bought a new position in Extra Space Storage in the 1st quarter valued at $76,000. 99.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on EXR shares. Scotiabank boosted their price target on shares of Extra Space Storage from $149.00 to $166.00 and gave the stock a "sector outperform" rating in a report on Monday, May 12th. JPMorgan Chase & Co. boosted their target price on shares of Extra Space Storage from $160.00 to $162.00 and gave the company a "neutral" rating in a research note on Friday, June 13th. Barclays reduced their target price on shares of Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Benchmark dropped their price objective on Extra Space Storage from $61.00 to $55.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Finally, BNP Paribas Exane began coverage on Extra Space Storage in a report on Tuesday, June 24th. They set a "neutral" rating and a $156.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Extra Space Storage currently has a consensus rating of "Hold" and a consensus price target of $159.29.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the completion of the sale, the chief executive officer directly owned 27,260 shares in the company, valued at approximately $4,098,541. This represents a 21.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.96% of the company's stock.

Extra Space Storage Price Performance

Shares of EXR traded up $1.18 during midday trading on Friday, hitting $150.00. 1,142,660 shares of the company traded hands, compared to its average volume of 1,070,661. Extra Space Storage Inc has a one year low of $121.03 and a one year high of $184.87. The firm has a market cap of $31.83 billion, a P/E ratio of 34.80, a PEG ratio of 3.61 and a beta of 1.10. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.33 and a quick ratio of 0.33. The stock has a 50-day moving average of $148.87 and a 200-day moving average of $148.39.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.04. Extra Space Storage had a net margin of 27.84% and a return on equity of 6.11%. The business had revenue of $820.00 million for the quarter, compared to analysts' expectations of $705.12 million. During the same period in the prior year, the company posted $1.96 EPS. The business's revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, sell-side analysts predict that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a $1.62 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.32%. Extra Space Storage's payout ratio is 150.35%.

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.