Extra Space Storage Inc. (NYSE:EXR) Shares Purchased by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. grew its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 4.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 343,370 shares of the real estate investment trust’s stock after acquiring an additional 15,360 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.16% of Extra Space Storage worth $51,368,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new position in Extra Space Storage during the fourth quarter worth approximately $938,647,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Extra Space Storage by 724.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust’s stock worth $357,100,000 after buying an additional 1,741,320 shares during the period. Manning & Napier Advisors LLC boosted its holdings in Extra Space Storage by 1,127.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust’s stock valued at $116,985,000 after acquiring an additional 718,266 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC grew its position in Extra Space Storage by 91.2% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,089,753 shares of the real estate investment trust’s stock valued at $163,027,000 after acquiring an additional 519,934 shares during the period. Finally, Amundi increased its stake in Extra Space Storage by 82.0% during the fourth quarter. Amundi now owns 828,644 shares of the real estate investment trust’s stock worth $122,649,000 after acquiring an additional 373,274 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EXR. The Goldman Sachs Group reiterated a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Wells Fargo & Company reduced their target price on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. Scotiabank lowered their price target on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating for the company in a report on Wednesday, March 5th. Finally, Truist Financial boosted their price objective on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $171.09.

Insider Activity at Extra Space Storage

In related news, Director Joseph J. Bonner sold 672 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total transaction of $100,195.20. Following the sale, the director now directly owns 4,557 shares of the company’s stock, valued at approximately $679,448.70. This represents a 12.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the transaction, the chief executive officer now owns 16,690 shares in the company, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,392 shares of company stock valued at $1,396,515 over the last three months. 1.36% of the stock is owned by insiders.

Extra Space Storage Price Performance

EXR stock opened at $145.41 on Friday. The stock’s 50 day moving average is $152.33 and its two-hundred day moving average is $160.13. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87. The company has a market capitalization of $30.83 billion, a PE ratio of 38.07, a P/E/G ratio of 7.76 and a beta of 0.90. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.93. The business had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. Analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $1.62 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.46%. Extra Space Storage’s dividend payout ratio (DPR) is 160.40%.

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.