Nuveen Asset Management LLC Sells 31,642 Shares of Extra Space Storage Inc. (NYSE:EXR)

Nuveen Asset Management LLC reduced its stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,681,928 shares of the real estate investment trust's stock after selling 31,642 shares during the quarter. Nuveen Asset Management LLC owned about 0.79% of Extra Space Storage worth $251,616,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of EXR. Golden State Wealth Management LLC bought a new position in shares of Extra Space Storage during the fourth quarter worth approximately $25,000. Harbour Investments Inc. grew its holdings 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 in the last quarter. Quent Capital LLC increased its position in Extra Space Storage by 89.0% during the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust's stock worth $49,000 after buying an additional 154 shares during the period. Asset Planning Inc acquired a new stake in shares of Extra Space Storage during the fourth quarter worth $52,000. Finally, Quarry LP lifted its holdings 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 worth $53,000 after buying an additional 217 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Price Performance

Extra Space Storage stock traded up $0.84 during midday trading on Monday, reaching $152.60. The company's stock had a trading volume of 699,157 shares, compared to its average volume of 1,055,200. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The stock has a market cap of $32.38 billion, a PE ratio of 39.95, a price-to-earnings-growth ratio of 7.76 and a beta of 1.14. Extra Space Storage Inc. has a 52 week low of $121.03 and a 52 week high of $184.87. The business has a 50-day moving average price of $143.10 and a 200-day moving average price of $151.92.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced 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. The company had revenue of $820.00 million for the quarter, compared to analyst estimates of $705.12 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm's revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.96 EPS. On average, sell-side analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.25%. The ex-dividend date was Friday, March 14th. Extra Space Storage's dividend payout ratio (DPR) is currently 150.35%.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the completion of the transaction, the chief executive officer now directly owns 9,190 shares in the company, valued at $1,355,065.50. This trade represents a 44.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the completion of the transaction, the executive vice president now directly owns 20,158 shares in the company, valued at approximately $3,077,320.28. This represents a 5.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,392 shares of company stock valued at $1,392,315 over the last quarter. 0.96% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Barclays lowered their price target on shares of Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating on the stock in a research report on Friday. The Goldman Sachs Group restated a "buy" rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Scotiabank lifted their price target on shares of Extra Space Storage from $149.00 to $166.00 and gave the company a "sector outperform" rating in a research report on Monday, May 12th. Benchmark cut their price target on Extra Space Storage from $61.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Finally, Royal Bank of Canada reduced their price target on Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 1st. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $158.46.

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.