Extra Space Storage Inc. (NYSE:EXR) Shares Acquired by Mizuho Securities USA LLC

Mizuho Securities USA LLC increased its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 1,664.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 288,094 shares of the real estate investment trust's stock after acquiring an additional 271,765 shares during the period. Mizuho Securities USA LLC owned approximately 0.14% of Extra Space Storage worth $51,912,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. EdgeRock Capital LLC purchased a new position in shares of Extra Space Storage during the 2nd quarter worth $25,000. Centerpoint Advisors LLC purchased a new position in Extra Space Storage during the second quarter worth about $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Extra Space Storage during the third quarter valued at about $33,000. Blue Trust Inc. raised its stake in shares of Extra Space Storage by 540.5% in the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust's stock valued at $35,000 after acquiring an additional 200 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Extra Space Storage by 2,760.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust's stock worth $44,000 after acquiring an additional 276 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Wall Street Analysts Forecast Growth

EXR has been the topic of a number of research analyst reports. Raymond James boosted their target price on Extra Space Storage from $160.00 to $175.00 and gave the company an "outperform" rating in a research report on Tuesday, July 23rd. Royal Bank of Canada began coverage on Extra Space Storage in a report on Tuesday, September 10th. They issued a "sector perform" rating and a $180.00 price objective on the stock. Jefferies Financial Group upgraded Extra Space Storage from a "hold" rating to a "buy" rating and raised their target price for the company from $162.00 to $204.00 in a report on Wednesday, September 18th. Barclays boosted their price target on shares of Extra Space Storage from $188.00 to $192.00 and gave the stock an "overweight" rating in a research note on Monday, October 28th. Finally, Truist Financial raised their price objective on shares of Extra Space Storage from $152.00 to $167.00 and gave the company a "hold" rating in a research note on Friday, August 16th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Extra Space Storage currently has a consensus rating of "Hold" and an average price target of $171.50.

Extra Space Storage Stock Up 0.7 %

NYSE:EXR traded up $1.13 during trading hours on Friday, hitting $164.56. The company's stock had a trading volume of 1,131,986 shares, compared to its average volume of 1,037,505. The stock has a market capitalization of $34.88 billion, a P/E ratio of 43.08, a price-to-earnings-growth ratio of 8.26 and a beta of 0.87. 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 stock has a fifty day moving average of $171.50 and a 200-day moving average of $162.46. Extra Space Storage Inc. has a 52-week low of $125.32 and a 52-week high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.12). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business had revenue of $824.80 million for the quarter, compared to analysts' expectations of $826.93 million. During the same quarter in the previous year, the firm earned $2.02 EPS. Extra Space Storage's revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities analysts forecast that Extra Space Storage Inc. will post 8.09 earnings per share for the current year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.94%. Extra Space Storage's dividend payout ratio is presently 169.63%.

Insider Activity

In other news, EVP William N. Springer sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total transaction of $350,660.00. Following the completion of the sale, the executive vice president now owns 11,919 shares in the company, valued at $2,089,758.27. This represents a 14.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the completion of the transaction, the chief executive officer now owns 24,190 shares in the company, valued at approximately $4,318,398.80. This trade represents a 23.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,970 shares of company stock valued at $3,367,307. 1.36% of the stock is currently owned by company 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.