Daiwa Securities Group Inc. Buys 106,608 Shares of Extra Space Storage Inc. (NYSE:EXR)

Daiwa Securities Group Inc. raised its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 5.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,127,067 shares of the real estate investment trust’s stock after buying an additional 106,608 shares during the quarter. Extra Space Storage comprises 1.4% of Daiwa Securities Group Inc.’s portfolio, making the stock its 18th biggest position. Daiwa Securities Group Inc.’s holdings in Extra Space Storage were worth $318,209,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of EXR. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Extra Space Storage by 27.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 168,338 shares of the real estate investment trust’s stock valued at $25,183,000 after purchasing an additional 36,693 shares in the last quarter. OFI Invest Asset Management acquired a new position in shares of Extra Space Storage in the 4th quarter valued at $813,000. Amundi increased its position in shares of Extra Space Storage by 82.0% in the 4th quarter. Amundi now owns 828,644 shares of the real estate investment trust’s stock valued at $122,649,000 after buying an additional 373,274 shares in the last quarter. Naviter Wealth LLC raised its stake in Extra Space Storage by 15.1% during the 4th quarter. Naviter Wealth LLC now owns 13,563 shares of the real estate investment trust’s stock worth $2,029,000 after buying an additional 1,782 shares during the period. Finally, Andra AP fonden lifted its holdings in Extra Space Storage by 202.8% during the fourth quarter. Andra AP fonden now owns 42,700 shares of the real estate investment trust’s stock worth $6,388,000 after acquiring an additional 28,600 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Stock Up 1.3 %

Extra Space Storage stock opened at $157.11 on Monday. The company has a market cap of $33.31 billion, a P/E ratio of 41.13, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. The company has a fifty day simple moving average of $152.91 and a 200 day simple moving average of $162.97. 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 Inc. has a 1-year low of $131.02 and a 1-year high of $184.87.

Extra Space Storage (NYSE:EXR) last issued its quarterly 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. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm had revenue of $821.90 million during the quarter, compared to analysts’ expectations of $707.34 million. Research analysts anticipate 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. Shareholders of record on Friday, March 14th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is currently 160.40%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on EXR shares. Royal Bank of Canada lowered their price target on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Wells Fargo & Company lowered their target price 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. Scotiabank cut their price target on shares of Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 5th. Truist Financial increased their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Finally, StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $171.36.

Insiders Place Their Bets

In other news, EVP William N. Springer sold 1,220 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $152.66, for a total transaction of $186,245.20. Following the transaction, the executive vice president now directly owns 20,158 shares in the company, valued at $3,077,320.28. The trade was a 5.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the completion of the sale, the chief executive officer now owns 16,690 shares of the company’s stock, 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 own 1.36% of the company’s stock.

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.