Asset Management One Co. Ltd. Raises Stock Holdings in Extra Space Storage Inc (NYSE:EXR)

Asset Management One Co. Ltd. lifted its holdings in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 1.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 405,065 shares of the real estate investment trust's stock after buying an additional 5,927 shares during the period. Asset Management One Co. Ltd. owned about 0.19% of Extra Space Storage worth $60,148,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of EXR. Oregon Public Employees Retirement Fund grew its position in shares of Extra Space Storage by 0.4% in the 4th 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 buying an additional 66 shares during the last quarter. Lindbrook Capital LLC grew its position in shares of Extra Space Storage by 14.9% in the 4th quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust's stock valued at $78,000 after buying an additional 68 shares during the last quarter. Aptus Capital Advisors LLC grew its position in shares of Extra Space Storage by 4.3% in the 4th quarter. Aptus Capital Advisors LLC now owns 1,638 shares of the real estate investment trust's stock valued at $245,000 after buying an additional 68 shares during the last quarter. Siemens Fonds Invest GmbH grew its position in shares of Extra Space Storage by 3.0% in the 4th quarter. Siemens Fonds Invest GmbH now owns 2,320 shares of the real estate investment trust's stock valued at $342,000 after buying an additional 68 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in shares of Extra Space Storage by 5.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,327 shares of the real estate investment trust's stock valued at $199,000 after buying an additional 73 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Stock Down 0.3%

EXR stock traded down $0.40 during trading on Tuesday, reaching $148.57. 1,224,405 shares of the stock were exchanged, compared to its average volume of 1,055,362. The firm's 50 day moving average is $147.15 and its 200 day moving average is $148.78. Extra Space Storage Inc has a twelve month low of $121.03 and a twelve month high of $184.87. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.85. The firm has a market cap of $31.53 billion, a P/E ratio of 34.47, a price-to-earnings-growth ratio of 3.62 and a beta of 1.11.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.04. The business had revenue of $820.00 million for the quarter, compared to the consensus estimate of $705.12 million. Extra Space Storage had a return on equity of 6.11% and a net margin of 27.84%. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.96 EPS. As a group, research 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 disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Monday, June 16th. Extra Space Storage's dividend payout ratio (DPR) is presently 150.35%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Bank of America upped their target price on Extra Space Storage from $155.00 to $161.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. upped their target price on Extra Space Storage from $160.00 to $162.00 and gave the company a "neutral" rating in a research report on Friday, June 13th. Mizuho upped their target price on Extra Space Storage from $141.00 to $153.00 and gave the company an "outperform" rating in a research report on Wednesday, May 28th. Royal Bank Of Canada cut their target price on Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 1st. Finally, BNP Paribas Exane assumed coverage on Extra Space Storage in a research report on Tuesday. They set a "neutral" rating and a $156.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $159.29.

Insider Transactions at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total value of $1,105,875.00. Following the completion of the sale, the chief executive officer now directly owns 9,190 shares of the company's stock, valued at $1,355,065.50. This represents a 44.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company 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.