Nuveen Asset Management LLC Has $251.62 Million Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Nuveen Asset Management LLC trimmed its position in Extra Space Storage Inc. (NYSE:EXR) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,681,928 shares of the real estate investment trust’s stock after selling 31,642 shares during the period. Nuveen Asset Management LLC owned approximately 0.79% of Extra Space Storage worth $251,616,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of EXR. Golden State Wealth Management LLC acquired a new stake in shares of Extra Space Storage in the 4th quarter valued at approximately $25,000. Harbour Investments Inc. lifted its holdings in shares of Extra Space Storage by 90.9% during the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 80 shares in the last quarter. Quent Capital LLC boosted its holdings in Extra Space Storage by 89.0% in the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 154 shares during the period. Asset Planning Inc bought a new stake in shares of Extra Space Storage in the fourth quarter valued at approximately $52,000. Finally, Quarry LP grew its holdings in shares of Extra Space Storage by 156.1% during the 4th quarter. Quarry LP now owns 356 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 217 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Royal Bank of Canada reduced their target price on Extra Space Storage from $163.00 to $160.00 and set a “sector perform” rating on the stock in a report on Thursday, May 1st. Evercore ISI raised their price target on shares of Extra Space Storage from $144.00 to $149.00 and gave the company an “in-line” rating in a research note on Thursday, May 1st. Mizuho assumed coverage on shares of Extra Space Storage in a report on Wednesday, April 9th. They set an “outperform” rating and a $141.00 price target for the company. Wells Fargo & Company lowered their price objective on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. Finally, Benchmark lowered their price objective on shares of Extra Space Storage from $61.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $158.69.

Extra Space Storage Price Performance

EXR opened at $148.48 on Friday. The company’s 50-day simple moving average is $143.11 and its two-hundred day simple moving average is $152.18. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The stock has a market capitalization of $31.51 billion, a P/E ratio of 38.87, a P/E/G 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.

Extra Space Storage (NYSE:EXR) last announced its 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 25.35% and a return on equity of 5.51%. The company had revenue of $820.00 million during the quarter, compared to analyst estimates of $705.12 million. During the same period in the previous year, the business posted $1.96 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $1.62 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.36%. Extra Space Storage’s payout ratio is currently 150.35%.

Insider Buying and Selling

In other news, Director Joseph J. Bonner sold 672 shares of Extra Space Storage stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total transaction of $100,195.20. Following the completion of the sale, the director now owns 4,557 shares of the company’s stock, valued at approximately $679,448.70. The trade was a 12.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total value of $1,105,875.00. Following the completion of the sale, the chief executive officer now owns 9,190 shares of the company’s stock, valued at $1,355,065.50. This represents a 44.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,392 shares of company stock worth $1,392,315. Corporate insiders own 0.96% of the company’s stock.

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.