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

Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 5.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,370 shares of the real estate investment trust’s stock after purchasing an additional 290 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Extra Space Storage were worth $803,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of EXR. Oregon Public Employees Retirement Fund increased its holdings in shares of Extra Space Storage by 0.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,160 shares of the real estate investment trust’s stock valued at $2,717,000 after purchasing an additional 66 shares during the period. Wedge Capital Management L L P NC increased its stake in Extra Space Storage by 1.3% in the 4th quarter. Wedge Capital Management L L P NC now owns 5,138 shares of the real estate investment trust’s stock valued at $769,000 after buying an additional 68 shares during the period. Lindbrook Capital LLC raised its position in Extra Space Storage by 14.9% during the 4th quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust’s stock worth $78,000 after buying an additional 68 shares during the last quarter. Checchi Capital Advisers LLC raised its position in Extra Space Storage by 2.2% during the 4th quarter. Checchi Capital Advisers LLC now owns 3,449 shares of the real estate investment trust’s stock worth $516,000 after buying an additional 75 shares during the last quarter. Finally, Harbour Investments Inc. lifted its stake in shares of Extra Space Storage by 90.9% in the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 80 shares during the period. 99.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on EXR shares. Barclays dropped 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 note on Wednesday, March 12th. The Goldman Sachs Group reissued a “buy” rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Royal Bank of Canada dropped their price objective on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday, March 7th. Finally, Wells Fargo & Company decreased 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 research report on Friday, February 21st. Two investment 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.com, the stock presently has an average rating of “Hold” and an average price target of $171.09.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $145.32 on Friday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The company’s 50-day moving average price is $152.44 and its 200 day moving average price is $160.33. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. The stock has a market cap of $30.81 billion, a price-to-earnings ratio of 38.04, a PEG ratio of 7.76 and a beta of 0.90.

Extra Space Storage (NYSE:EXR) last released 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 net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $821.90 million for the quarter, compared to analyst estimates of $707.34 million. As a group, research analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business 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 4.46%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s payout ratio is 160.40%.

Insider Transactions at Extra Space Storage

In related news, Director Joseph J. Bonner sold 672 shares of Extra Space Storage stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $149.10, for a total transaction of $100,195.20. Following the completion of the sale, the director now owns 4,557 shares in the company, valued at approximately $679,448.70. This trade represents a 12.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’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 transaction, the chief executive officer now owns 16,690 shares in the company, valued at approximately $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 currently owned by 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.