Nisa Investment Advisors LLC Has $15 Million Position in Extra Space Storage Inc (NYSE:EXR)

Nisa Investment Advisors LLC reduced its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent disclosure 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 quarter.

Other large investors also recently modified their holdings of the company. Greenleaf Trust increased its position in Extra Space Storage by 20.8% during the 1st quarter. Greenleaf Trust now owns 2,609 shares of the real estate investment trust's stock worth $387,000 after buying an additional 449 shares during the period. Liberty One Investment Management LLC increased its position in Extra Space Storage by 9.8% during the first quarter. Liberty One Investment Management LLC now owns 31,180 shares of the real estate investment trust's stock worth $4,630,000 after acquiring an additional 2,793 shares during the period. U.S. Capital Wealth Advisors LLC raised its stake in Extra Space Storage by 1.2% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 10,111 shares of the real estate investment trust's stock worth $1,501,000 after purchasing an additional 123 shares in the last quarter. Wayfinding Financial LLC bought a new stake in Extra Space Storage in the 1st quarter valued at about $76,000. Finally, Brookstone Capital Management bought a new stake in Extra Space Storage in the 1st quarter valued at about $9,977,000. 99.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

EXR has been the subject of a number of analyst reports. Benchmark dropped their price target on shares of Extra Space Storage from $61.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Barclays cut their target price on 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. Mizuho raised their price target on Extra Space Storage from $141.00 to $153.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 28th. JPMorgan Chase & Co. upped their price objective on shares of Extra Space Storage from $160.00 to $162.00 and gave the stock a "neutral" rating in a research report on Friday, June 13th. Finally, Scotiabank increased their price objective on shares of Extra Space Storage from $149.00 to $166.00 and gave the stock a "sector outperform" rating in a research note on Monday, May 12th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $159.29.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total value of $1,127,625.00. Following the sale, the chief executive officer directly owned 27,260 shares in the company, valued at $4,098,541. This represents a 21.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.36% of the stock is owned by company insiders.

Extra Space Storage Price Performance

EXR traded up $1.18 on Friday, reaching $150.00. The stock had a trading volume of 1,142,660 shares, compared to its average volume of 1,071,731. The firm has a 50-day moving average of $148.87 and a 200-day moving average of $148.38. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $184.87. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $31.83 billion, a price-to-earnings ratio of 34.80, a price-to-earnings-growth ratio of 3.64 and a beta of 1.10.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $820.00 million during the quarter, compared to the consensus estimate of $705.12 million. During the same quarter last year, the firm earned $1.96 earnings per share. The company's revenue for the quarter was up 2.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a $1.62 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $6.48 annualized dividend 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.