Nisa Investment Advisors LLC Cuts Position in Extra Space Storage Inc. (NYSE:EXR)

Nisa Investment Advisors LLC lowered its holdings in Extra Space Storage Inc. (NYSE:EXR) by 8.4% in the third quarter, Holdings Channel.com reports. The fund owned 109,869 shares of the real estate investment trust’s stock after selling 10,120 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Extra Space Storage were worth $19,797,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. EdgeRock Capital LLC acquired a new stake in shares of Extra Space Storage in the second quarter valued at about $25,000. Centerpoint Advisors LLC purchased a new position in Extra Space Storage in the second quarter valued at about $27,000. Blue Trust Inc. lifted its position in shares of Extra Space Storage by 540.5% during the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 200 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Extra Space Storage by 2,760.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 276 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of Extra Space Storage by 19.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock worth $72,000 after acquiring an additional 76 shares in the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Royal Bank of Canada began coverage on Extra Space Storage in a report on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 price objective for the company. Scotiabank lifted their price target on Extra Space Storage from $159.00 to $169.00 and gave the stock a “sector underperform” rating in a research note on Thursday, August 22nd. Jefferies Financial Group raised shares of Extra Space Storage from a “hold” rating to a “buy” rating and increased their price objective for the company from $162.00 to $204.00 in a research note on Wednesday, September 18th. KeyCorp lifted their target price on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Finally, Evercore ISI lowered their price target on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $171.07.

Insider Activity

In related news, EVP William N. Springer sold 2,000 shares of Extra Space Storage stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total value of $350,660.00. Following the transaction, the executive vice president now owns 11,919 shares in the company, valued at approximately $2,089,758.27. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $177.01, for a total transaction of $499,699.23. Following the transaction, the executive vice president now owns 32,855 shares in the company, valued at $5,815,663.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP William N. Springer sold 2,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total value of $350,660.00. Following the completion of the sale, the executive vice president now owns 11,919 shares of the company’s stock, valued at approximately $2,089,758.27. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,970 shares of company stock valued at $3,367,307 in the last ninety days. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Trading Down 1.1 %

NYSE EXR opened at $165.62 on Wednesday. The company has a 50-day moving average of $174.46 and a 200-day moving average of $160.15. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.20 and a quick ratio of 0.20. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $184.87. The company has a market cap of $35.07 billion, a P/E ratio of 36.89, a P/E/G ratio of 6.25 and a beta of 0.86.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date was Monday, September 16th. Extra Space Storage’s dividend payout ratio is currently 144.32%.

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.