Nordea Investment Management AB Acquires 1,085 Shares of Extra Space Storage Inc. (NYSE:EXR)

Nordea Investment Management AB raised its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 7.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 16,577 shares of the real estate investment trust’s stock after acquiring an additional 1,085 shares during the period. Nordea Investment Management AB’s holdings in Extra Space Storage were worth $2,465,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. State Street Corp increased its holdings in shares of Extra Space Storage by 1.7% in the third 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 in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Extra Space Storage by 4.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,549,231 shares of the real estate investment trust’s stock valued at $551,586,000 after acquiring an additional 157,763 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Extra Space Storage by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,127,012 shares of the real estate investment trust’s stock valued at $485,973,000 after acquiring an additional 45,717 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in Extra Space Storage by 7.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,965,638 shares of the real estate investment trust’s stock worth $460,890,000 after buying an additional 198,888 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position 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 worth $426,349,000 after buying an additional 111,137 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on EXR shares. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Barclays boosted their price objective on shares of Extra Space Storage from $188.00 to $192.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Jefferies Financial Group upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and increased their price target for the stock from $162.00 to $204.00 in a research report on Wednesday, September 18th. Scotiabank upgraded shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 target price on the stock in a research report on Friday. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $175.00 target price on shares of Extra Space Storage in a research report on Monday, October 21st. Two research 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $171.92.

Insider Buying and Selling at Extra Space Storage

In other news, Director Diane Olmstead sold 3,081 shares of Extra Space Storage stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $164.56, for a total transaction of $507,009.36. Following the sale, the director now owns 5,877 shares in the company, valued at $967,119.12. This trade represents a 34.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 16,690 shares in the company, valued at $2,470,286.90. This represents a 31.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Down 0.9 %

Shares of NYSE EXR opened at $146.72 on Friday. 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 firm has a fifty day simple moving average of $158.78 and a two-hundred day simple moving average of $165.08. The firm has a market capitalization of $31.10 billion, a PE ratio of 38.41, a price-to-earnings-growth ratio of 7.96 and a beta of 0.91. Extra Space Storage Inc. has a 12 month low of $131.02 and a 12 month high of $184.87.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). The firm had revenue of $824.80 million for the quarter, compared to the consensus estimate of $826.93 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.02 earnings per share. Equities analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.42%. The ex-dividend date was Monday, December 16th. Extra Space Storage’s dividend payout ratio is currently 169.63%.

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.