Daiwa Securities Group Inc. Purchases 186,562 Shares of Extra Space Storage Inc $EXR

Key Points

• Daiwa Securities Group Inc. increased its stake in Extra Space Storage by 7.2% in the fourth quarter, buying 186,562 additional shares and bringing its total holding to 2,776,654 shares valued at about $361.6 million.
• Institutional ownership remains extremely high, with hedge funds and other investors holding 99.11% of Extra Space Storage’s stock; several firms, including Norges Bank and UBS AM, also made large additions to their positions.
• Analysts are mixed but generally cautious-to-positive on EXR, with an average “Hold” rating and consensus price target of $152.29, while the stock recently traded up 2.0% to $145.87 and offers a 4.4% dividend yield.

Daiwa Securities Group Inc. lifted its position in Extra Space Storage Inc (NYSE:EXR - Free Report) by 7.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,776,654 shares of the real estate investment trust's stock after purchasing an additional 186,562 shares during the quarter. Extra Space Storage comprises approximately 1.2% of Daiwa Securities Group Inc.'s portfolio, making the stock its 17th largest holding. Daiwa Securities Group Inc. owned approximately 1.31% of Extra Space Storage worth $361,575,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Extra Space Storage during the 4th quarter worth $1,219,606,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Extra Space Storage by 900.0% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,187,795 shares of the real estate investment trust's stock valued at $308,348,000 after acquiring an additional 1,969,013 shares during the last quarter. Resolution Capital Ltd raised its position in Extra Space Storage by 116.2% during the second quarter. Resolution Capital Ltd now owns 1,950,842 shares of the real estate investment trust's stock valued at $287,632,000 after purchasing an additional 1,048,685 shares in the last quarter. First Eagle Investment Management LLC raised its position in Extra Space Storage by 61.8% during the fourth quarter. First Eagle Investment Management LLC now owns 2,552,053 shares of the real estate investment trust's stock valued at $332,328,000 after purchasing an additional 974,804 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its stake in Extra Space Storage by 191.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,362,422 shares of the real estate investment trust's stock worth $177,425,000 after purchasing an additional 895,013 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on EXR. UBS Group upped their price objective on Extra Space Storage from $148.00 to $158.00 and gave the stock a "buy" rating in a report on Monday, May 18th. BNP Paribas Exane raised Extra Space Storage from a "neutral" rating to an "outperform" rating and set a $154.00 target price for the company in a research note on Wednesday, March 18th. Barclays increased their price target on shares of Extra Space Storage from $164.00 to $170.00 and gave the company an "overweight" rating in a research report on Thursday, March 5th. Mizuho lifted their price target on shares of Extra Space Storage from $150.00 to $155.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 27th. Finally, Bank of America cut shares of Extra Space Storage from a "neutral" rating to an "underperform" rating and set a $143.00 price objective for the company. in a research note on Thursday, February 5th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Extra Space Storage has an average rating of "Hold" and a consensus target price of $152.29.

Extra Space Storage Trading Up 2.0%

Shares of EXR stock opened at $145.87 on Friday. The business has a 50-day moving average of $140.13 and a 200 day moving average of $138.77. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37. Extra Space Storage Inc has a 1-year low of $125.71 and a 1-year high of $155.19. The stock has a market capitalization of $30.82 billion, a PE ratio of 32.71, a P/E/G ratio of 4.65 and a beta of 1.20.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 EPS for the quarter, missing analysts' consensus estimates of $2.01 by ($0.87). Extra Space Storage had a return on equity of 6.65% and a net margin of 27.66%.The company had revenue of $856.03 million during the quarter, compared to analysts' expectations of $851.35 million. During the same period last year, the firm earned $2.00 earnings per share. Extra Space Storage's revenue for the quarter was up 4.4% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. As a group, sell-side analysts anticipate that Extra Space Storage Inc will post 8.24 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, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Monday, June 15th. Extra Space Storage's dividend payout ratio is currently 145.29%.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Friday, March 13th. The shares were sold at an average price of $142.08, for a total transaction of $1,065,600.00. Following the completion of the sale, the chief executive officer owned 66,495 shares of the company's stock, valued at $9,447,609.60. This represents a 10.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.96% of the stock is owned by corporate insiders.

About Extra Space Storage

Extra Space Storage NYSE: EXR is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.

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