Extra Space Storage Inc $EXR Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lowered its holdings in Extra Space Storage Inc (NYSE:EXR) by 3.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,658,747 shares of the real estate investment trust’s stock after selling 98,037 shares during the period. Extra Space Storage comprises 1.4% of Daiwa Securities Group Inc.’s holdings, making the stock its 16th biggest holding. Daiwa Securities Group Inc.’s holdings in Extra Space Storage were worth $392,006,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Extra Space Storage during the second quarter valued at $1,058,303,000. JPMorgan Chase & Co. boosted its holdings in shares of Extra Space Storage by 205.7% during the first quarter. JPMorgan Chase & Co. now owns 4,094,555 shares of the real estate investment trust’s stock worth $608,001,000 after purchasing an additional 2,755,265 shares during the period. Nuveen LLC purchased a new position in Extra Space Storage in the first quarter valued at about $257,917,000. AQR Capital Management LLC lifted its stake in shares of Extra Space Storage by 570.3% in the 1st quarter. AQR Capital Management LLC now owns 1,124,206 shares of the real estate investment trust’s stock valued at $166,180,000 after purchasing an additional 956,500 shares during the last quarter. Finally, Resolution Capital Ltd increased its position in Extra Space Storage by 259.1% during the first quarter. Resolution Capital Ltd now owns 902,157 shares of the real estate investment trust’s stock worth $133,961,000 after buying an additional 650,957 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Stock Performance

EXR stock opened at $128.51 on Tuesday. The company has a 50 day moving average price of $138.16 and a 200 day moving average price of $142.74. The stock has a market capitalization of $27.28 billion, a PE ratio of 28.68, a price-to-earnings-growth ratio of 2.47 and a beta of 1.26. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $165.46. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.24 and a quick ratio of 0.24.

Extra Space Storage (NYSE:EXR) last released its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.02. Extra Space Storage had a net margin of 28.40% and a return on equity of 6.56%. The company had revenue of $858.46 million for the quarter, compared to the consensus estimate of $736.26 million. During the same period in the prior year, the company posted $2.07 EPS. The company’s revenue was up 4.1% compared to the same quarter last year. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. Analysts forecast that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $6.48 annualized dividend and a yield of 5.0%. Extra Space Storage’s dividend payout ratio is presently 144.64%.

Analyst Ratings Changes

A number of research analysts recently issued reports on EXR shares. Morgan Stanley lowered their target price on shares of Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of Extra Space Storage in a research note on Wednesday, October 8th. Scotiabank reduced their target price on Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 28th. Mizuho dropped their price target on shares of Extra Space Storage from $154.00 to $137.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Evercore ISI restated a “cautious” rating on shares of Extra Space Storage in a research report on Monday, November 3rd. Six equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $147.53.

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 that occurred on Wednesday, October 1st. The shares were sold at an average price of $141.41, for a total value of $1,060,575.00. Following the completion of the sale, the chief executive officer owned 19,760 shares of the company’s stock, valued at approximately $2,794,261.60. This represents a 27.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.