Tokio Marine Asset Management Co. Ltd. Grows Position in Extra Space Storage Inc. (NYSE:EXR)

Tokio Marine Asset Management Co. Ltd. boosted its holdings in Extra Space Storage Inc. (NYSE:EXR) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,050 shares of the real estate investment trust’s stock after acquiring an additional 142 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Extra Space Storage were worth $810,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of EXR. Zions Bancorporation N.A. raised its position in Extra Space Storage by 241.9% in the third quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 150 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Extra Space Storage by 162.5% in the third quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 143 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Extra Space Storage in the third quarter valued at $32,000. Anchor Investment Management LLC purchased a new position in shares of Extra Space Storage in the fourth quarter valued at $35,000. Finally, Bruce G. Allen Investments LLC purchased a new position in shares of Extra Space Storage in the fourth quarter valued at $41,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Activity

In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $145.00, for a total transaction of $195,750.00. Following the sale, the executive vice president now directly owns 37,028 shares in the company, valued at approximately $5,369,060. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $145.00, for a total transaction of $195,750.00. Following the sale, the executive vice president now directly owns 37,028 shares in the company, valued at approximately $5,369,060. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CMO Samrat Sondhi sold 2,048 shares of Extra Space Storage stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $146.46, for a total value of $299,950.08. Following the sale, the chief marketing officer now owns 94,126 shares in the company, valued at $13,785,693.96. The disclosure for this sale can be found here. Insiders have sold 3,532 shares of company stock valued at $514,819 in the last three months. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Down 0.2 %

Shares of NYSE:EXR opened at $133.57 on Friday. The stock’s 50-day moving average price is $141.87 and its two-hundred day moving average price is $138.07. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.71. Extra Space Storage Inc. has a 12-month low of $101.19 and a 12-month high of $164.99. The firm has a market cap of $28.27 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 3.29 and a beta of 0.74.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). The business had revenue of $797.77 million during the quarter, compared to analyst estimates of $778.05 million. Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The firm’s quarterly revenue was up 57.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.09 earnings per share. On average, research analysts forecast that Extra Space Storage Inc. will post 8.05 EPS for the current year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.85%. The ex-dividend date of this dividend was Thursday, March 14th. Extra Space Storage’s dividend payout ratio is currently 131.17%.

Analyst Ratings Changes

EXR has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price target on Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. TheStreet upgraded Extra Space Storage from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Raymond James restated an “outperform” rating and issued a $160.00 price target on shares of Extra Space Storage in a research report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft initiated coverage on Extra Space Storage in a research report on Tuesday, January 30th. They issued a “hold” rating and a $141.00 price target for the company. Finally, The Goldman Sachs Group raised their price target on Extra Space Storage from $168.00 to $187.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $150.17.

Extra Space Storage Company 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.