Extra Space Storage Inc. (NYSE:EXR) Shares Acquired by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Extra Space Storage Inc. (NYSE:EXR) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,370 shares of the real estate investment trust’s stock after acquiring an additional 290 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Extra Space Storage were worth $803,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC acquired a new stake in shares of Extra Space Storage during the fourth quarter valued at about $25,000. Harbour Investments Inc. boosted its position in shares of Extra Space Storage by 90.9% during the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 80 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in Extra Space Storage in the 3rd quarter valued at approximately $42,000. Continuum Advisory LLC raised its position in Extra Space Storage by 68.1% in the third quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 126 shares during the period. Finally, Quent Capital LLC lifted its stake in Extra Space Storage by 89.0% during the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 154 shares in the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EXR. Wells Fargo & Company dropped their price objective on 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. Royal Bank of Canada dropped their target price on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. Barclays reduced their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. Truist Financial lifted their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Finally, StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Friday, March 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $171.09.

Extra Space Storage Trading Down 0.2 %

Shares of NYSE:EXR opened at $145.32 on Friday. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. The company’s 50 day moving average is $152.44 and its two-hundred day moving average is $160.33. The company has a market cap of $30.81 billion, a PE ratio of 38.04, a P/E/G ratio of 7.76 and a beta of 0.90. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, beating the consensus estimate of $1.10 by $0.93. The firm had revenue of $821.90 million for the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Equities 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 firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s payout ratio is 160.40%.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Thursday, January 2nd. The shares were 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 directly owns 16,690 shares of the company’s stock, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Joseph J. Bonner sold 672 shares of Extra Space Storage stock in a transaction 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 owns 4,557 shares in the company, valued at $679,448.70. This represents a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,392 shares of company stock valued at $1,396,515 over the last three months. 1.36% of the stock is owned by corporate insiders.

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.