Nomura Holdings Inc. Boosts Stock Position in Extra Space Storage Inc $EXR

Key Points

• Nomura Holdings Inc. increased its stake in Extra Space Storage Inc. by 67.1%, owning 52,798 shares worth $7.84 million as of the last reporting period.
• CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage at an average price of $150.35, reducing his ownership by 21.58%.
• Extra Space Storage announced a quarterly dividend of $1.62 per share, with a 4.5% yield, to be paid on September 30th.

Nomura Holdings Inc. raised its position in Extra Space Storage Inc (NYSE:EXR - Free Report) by 67.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,798 shares of the real estate investment trust's stock after purchasing an additional 21,206 shares during the quarter. Nomura Holdings Inc.'s holdings in Extra Space Storage were worth $7,840,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of EXR. GKV Capital Management Co. Inc. bought a new position in shares of Extra Space Storage during the first quarter worth about $29,000. Zions Bancorporation National Association UT bought a new position in shares of Extra Space Storage during the first quarter worth about $50,000. Golden State Wealth Management LLC raised its position in shares of Extra Space Storage by 147.0% during the first quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust's stock worth $60,000 after acquiring an additional 241 shares during the last quarter. Wayfinding Financial LLC bought a new position in shares of Extra Space Storage during the first quarter worth about $76,000. Finally, Avalon Trust Co bought a new position in shares of Extra Space Storage during the first quarter worth about $79,000. 99.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EXR. BNP Paribas Exane began coverage on Extra Space Storage in a research report on Tuesday, June 24th. They set a "neutral" rating and a $156.00 price objective for the company. Truist Financial lowered their price objective on Extra Space Storage from $158.00 to $150.00 and set a "hold" rating for the company in a research report on Tuesday, August 19th. The Goldman Sachs Group restated a "neutral" rating and set a $146.00 price objective (down from $169.00) on shares of Extra Space Storage in a research report on Thursday, August 21st. Citigroup lowered their price objective on Extra Space Storage from $165.00 to $150.00 and set a "neutral" rating for the company in a research report on Friday, August 22nd. Finally, BNP Paribas upgraded Extra Space Storage to a "hold" rating in a research report on Tuesday, June 24th. Seven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $153.33.

Extra Space Storage Trading Up 0.5%

EXR stock traded up $0.68 during mid-day trading on Thursday, reaching $143.88. The company's stock had a trading volume of 1,435,470 shares, compared to its average volume of 1,185,547. The company has a market cap of $30.54 billion, a price-to-earnings ratio of 31.21, a price-to-earnings-growth ratio of 3.47 and a beta of 1.09. The business's 50 day moving average price is $144.36 and its 200 day moving average price is $146.08. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.88. Extra Space Storage Inc has a 12 month low of $121.03 and a 12 month high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.05 EPS for the quarter, missing analysts' consensus estimates of $2.06 by ($0.01). Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The firm had revenue of $841.62 million during the quarter, compared to analyst estimates of $719.43 million. During the same period last year, the business posted $2.06 EPS. The company's revenue was up 3.8% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. On average, equities research analysts predict 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, September 30th. Shareholders of record on Monday, September 15th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Monday, September 15th. Extra Space Storage's dividend payout ratio (DPR) is 140.56%.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total value of $1,127,625.00. Following the completion of the sale, the chief executive officer owned 27,260 shares of the company's stock, valued at approximately $4,098,541. This trade represents a 21.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.36% of the company's stock.

About Extra Space Storage

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.