Mufg Securities Americas Inc. Purchases New Holdings in Extra Space Storage Inc. (NYSE:EXR)

Mufg Securities Americas Inc. acquired a new position in shares of Extra Space Storage Inc. (NYSE:EXR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 3,130 shares of the real estate investment trust’s stock, valued at approximately $468,000.

Several other large investors also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund increased its stake in Extra Space Storage by 0.4% during 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 acquiring an additional 66 shares during the period. Wedge Capital Management L L P NC grew its holdings in shares of Extra Space Storage by 1.3% during the 4th quarter. Wedge Capital Management L L P NC now owns 5,138 shares of the real estate investment trust’s stock worth $769,000 after purchasing an additional 68 shares in the last quarter. Lindbrook Capital LLC increased its position in shares of Extra Space Storage by 14.9% during the fourth quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust’s stock valued at $78,000 after purchasing an additional 68 shares during the period. Aptus Capital Advisors LLC raised its stake in shares of Extra Space Storage by 4.3% in the fourth quarter. Aptus Capital Advisors LLC now owns 1,638 shares of the real estate investment trust’s stock valued at $245,000 after purchasing an additional 68 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in Extra Space Storage by 5.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,327 shares of the real estate investment trust’s stock worth $199,000 after purchasing an additional 73 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Trading Up 1.8%

Shares of EXR opened at $148.48 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The company has a market cap of $31.51 billion, a price-to-earnings ratio of 38.87, a PEG ratio of 7.76 and a beta of 1.14. The stock has a fifty day moving average price of $143.11 and a two-hundred day moving average price of $152.18. Extra Space Storage Inc. has a 52-week low of $121.03 and a 52-week high of $184.87.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.04. The business had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $705.12 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.96 earnings per share. Analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.36%. Extra Space Storage’s payout ratio is 150.35%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Mizuho initiated coverage on shares of Extra Space Storage in a report on Wednesday, April 9th. They issued an “outperform” rating and a $141.00 price target on the stock. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Wednesday, April 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. Evercore ISI upped their price objective on Extra Space Storage from $144.00 to $149.00 and gave the company an “in-line” rating in a research note on Thursday, May 1st. Finally, Scotiabank raised their target price on Extra Space Storage from $149.00 to $166.00 and gave the stock a “sector outperform” rating in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Extra Space Storage currently has an average rating of “Moderate Buy” and a consensus price target of $158.69.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the transaction, the chief executive officer now owns 9,190 shares of the company’s stock, valued at approximately $1,355,065.50. This represents a 44.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction on Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the completion of the sale, the executive vice president now directly owns 20,158 shares of the company’s stock, valued at $3,077,320.28. This trade represents a 5.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,392 shares of company stock worth $1,392,315. Corporate insiders own 0.96% of the company’s stock.

Extra Space Storage 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.