Extra Space Storage Inc. (NYSE:EXR) Stock Position Boosted by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 10.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,020,459 shares of the real estate investment trust’s stock after buying an additional 189,949 shares during the quarter. Extra Space Storage comprises 1.7% of Daiwa Securities Group Inc.’s holdings, making the stock its 17th biggest position. Daiwa Securities Group Inc. owned about 0.95% of Extra Space Storage worth $364,066,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC boosted its stake in Extra Space Storage by 36.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,004 shares of the real estate investment trust’s stock valued at $1,030,000 after purchasing an additional 1,875 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in Extra Space Storage by 12.8% during the first quarter. Advisors Asset Management Inc. now owns 19,872 shares of the real estate investment trust’s stock worth $2,921,000 after acquiring an additional 2,252 shares during the period. BROOKFIELD Corp ON raised its position in Extra Space Storage by 37.3% in the first quarter. BROOKFIELD Corp ON now owns 289,968 shares of the real estate investment trust’s stock worth $42,625,000 after acquiring an additional 78,823 shares in the last quarter. Janus Henderson Group PLC raised its position in Extra Space Storage by 2,244.2% in the first quarter. Janus Henderson Group PLC now owns 597,729 shares of the real estate investment trust’s stock worth $87,824,000 after acquiring an additional 572,231 shares in the last quarter. Finally, California State Teachers Retirement System lifted its holdings in Extra Space Storage by 1.3% in the 1st quarter. California State Teachers Retirement System now owns 342,652 shares of the real estate investment trust’s stock valued at $50,370,000 after acquiring an additional 4,396 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Evercore ISI lowered their price objective on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. Scotiabank upped their price target on Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a report on Thursday, August 22nd. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Truist Financial boosted their target price on Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Finally, Barclays upped their target price on Extra Space Storage from $188.00 to $192.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $171.50.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $168.14 on Friday. Extra Space Storage Inc. has a 52 week low of $125.32 and a 52 week high of $184.87. The firm has a market cap of $35.64 billion, a P/E ratio of 44.02, a P/E/G ratio of 8.40 and a beta of 0.87. 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 business’s fifty day moving average is $170.44 and its two-hundred day moving average is $163.52.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results 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). Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company had revenue of $824.80 million during the quarter, compared to analyst estimates of $826.93 million. During the same period in the prior year, the business earned $2.02 EPS. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. Equities research analysts forecast that Extra Space Storage Inc. will post 8.09 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend is Monday, December 16th. Extra Space Storage’s dividend payout ratio is presently 169.63%.

Insider Buying and Selling at Extra Space Storage

In related news, Director Kenneth M. Woolley sold 6,647 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $177.23, for a total value of $1,178,047.81. Following the sale, the director now directly owns 404,306 shares in the company, valued at $71,655,152.38. This trade represents a 1.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $350,660.00. Following the transaction, the executive vice president now directly owns 11,919 shares in the company, valued at approximately $2,089,758.27. This represents a 14.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,228 shares of company stock worth $3,374,617. Insiders own 1.36% 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.