Nomura Asset Management Co. Ltd. Increases Position in Extra Space Storage Inc. (NYSE:EXR)

Nomura Asset Management Co. Ltd. lifted its holdings in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 328,010 shares of the real estate investment trust's stock after acquiring an additional 5,430 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.15% of Extra Space Storage worth $59,104,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EdgeRock Capital LLC bought a new position in Extra Space Storage during the 2nd quarter valued at $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 purchased a new position in Extra Space Storage during the third quarter worth about $33,000. Blue Trust Inc. grew its position in 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 worth $35,000 after purchasing an additional 200 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Extra Space Storage in the 3rd quarter valued at about $42,000. Institutional investors and hedge funds own 99.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on EXR shares. KeyCorp upped their target price on Extra Space Storage from $172.00 to $178.00 and gave the company an "overweight" rating in a report on Monday, September 9th. Evercore ISI reduced their price objective on Extra Space Storage from $170.00 to $168.00 and set an "in-line" rating for the company in a research note on Monday, October 14th. Royal Bank of Canada began coverage on Extra Space Storage in a research report on Tuesday, September 10th. They set a "sector perform" rating and a $180.00 target price for the company. Wells Fargo & Company restated an "equal weight" rating and set a $175.00 price target on shares of Extra Space Storage in a research report on Monday, October 21st. Finally, StockNews.com downgraded shares of Extra Space Storage from a "hold" rating to a "sell" rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $171.43.

Extra Space Storage Stock Performance

EXR stock traded down $4.11 during midday trading on Tuesday, reaching $160.40. 1,379,944 shares of the company's stock traded hands, compared to its average volume of 1,023,852. The firm has a market capitalization of $34.00 billion, a PE ratio of 41.99, a price-to-earnings-growth ratio of 8.23 and a beta of 0.89. The company has a 50-day moving average price of $167.84 and a two-hundred day moving average price of $165.23. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.03 by ($1.12). Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company had revenue of $824.80 million for the quarter, compared to the consensus estimate of $826.93 million. During the same quarter in the previous year, the firm posted $2.02 earnings per share. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $1.62 dividend. The ex-dividend date is Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.04%. Extra Space Storage's dividend payout ratio (DPR) is currently 169.63%.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, Director Diane Olmstead sold 3,081 shares of the company's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $164.56, for a total value of $507,009.36. Following the transaction, the director now directly owns 5,877 shares in the company, valued at $967,119.12. This represents a 34.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total value of $1,338,900.00. Following the sale, the chief executive officer now owns 24,190 shares of the company's stock, valued at approximately $4,318,398.80. This trade represents a 23.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,228 shares of company stock valued at $3,023,957. 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.