Nisa Investment Advisors LLC Sells 17,835 Shares of Extra Space Storage Inc $EXR

Nisa Investment Advisors LLC trimmed its holdings in shares of Extra Space Storage Inc (NYSE:EXR) by 16.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 90,402 shares of the real estate investment trust’s stock after selling 17,835 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Extra Space Storage were worth $12,741,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Extra Space Storage by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 34,269,652 shares of the real estate investment trust’s stock valued at $5,052,717,000 after purchasing an additional 300,167 shares during the period. State Street Corp boosted its holdings in shares of Extra Space Storage by 1.6% in the 2nd quarter. State Street Corp now owns 13,680,181 shares of the real estate investment trust’s stock worth $2,017,006,000 after buying an additional 210,466 shares during the last quarter. Norges Bank bought a new position in Extra Space Storage during the second quarter valued at about $1,058,303,000. Geode Capital Management LLC increased its holdings in Extra Space Storage by 1.8% during the second quarter. Geode Capital Management LLC now owns 5,795,253 shares of the real estate investment trust’s stock worth $851,070,000 after buying an additional 100,637 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Extra Space Storage by 10.2% in the second quarter. JPMorgan Chase & Co. now owns 4,513,795 shares of the real estate investment trust’s stock worth $665,514,000 after acquiring an additional 419,240 shares during the period. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Trading Up 2.1%

NYSE:EXR opened at $139.15 on Friday. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $162.77. The stock’s fifty day moving average price is $131.67 and its two-hundred day moving average price is $139.95. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.24 and a quick ratio of 0.24. The company has a market cap of $29.53 billion, a P/E ratio of 31.06, a P/E/G ratio of 2.51 and a beta of 1.27.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.02. The company had revenue of $858.46 million during the quarter, compared to analysts’ expectations of $736.26 million. Extra Space Storage had a return on equity of 6.56% and a net margin of 28.40%.The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.07 earnings per share. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. As a group, analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Monday, December 15th. Extra Space Storage’s dividend payout ratio is presently 144.64%.

Wall Street Analysts Forecast Growth

EXR has been the subject of a number of research reports. Truist Financial reduced their target price on shares of Extra Space Storage from $150.00 to $142.00 and set a “hold” rating for the company in a research report on Tuesday, December 16th. UBS Group reduced their price objective on Extra Space Storage from $156.00 to $148.00 and set a “buy” rating for the company in a report on Thursday. Wall Street Zen lowered Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Morgan Stanley cut their price target on Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating for the company in a research note on Friday, December 5th. Finally, Evercore ISI reissued a “cautious” rating on shares of Extra Space Storage in a report on Monday, November 3rd. Six equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, Extra Space Storage presently has a consensus rating of “Hold” and a consensus price target of $146.20.

About Extra Space Storage

Extra Space Storage (NYSE: EXR) is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.