Nomura Asset Management Co. Ltd. Buys 9,492 Shares of Extra Space Storage Inc $EXR

Key Points

• Nomura Asset Management increased its stake in Extra Space Storage by 2.5% in the fourth quarter, buying 9,492 additional shares and bringing its total holding to 391,044 shares worth about $50.9 million.
• Institutional interest in EXR remains high, with several large investors recently boosting positions and institutions collectively owning 99.11% of the company.
• Extra Space Storage reported quarterly EPS of $1.14, well below the $2.01 consensus estimate, while also announcing a quarterly dividend of $1.62 per share, equal to a 4.5% yield.

Nomura Asset Management Co. Ltd. increased its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 391,044 shares of the real estate investment trust's stock after purchasing an additional 9,492 shares during the period. Nomura Asset Management Co. Ltd. owned 0.18% of Extra Space Storage worth $50,922,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of EXR. Norges Bank bought a new position in Extra Space Storage in the 4th quarter worth approximately $1,219,606,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Extra Space Storage by 900.0% in the 3rd 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 worth $308,348,000 after purchasing an additional 1,969,013 shares during the last quarter. Resolution Capital Ltd raised its position in Extra Space Storage by 116.2% in the 2nd quarter. Resolution Capital Ltd now owns 1,950,842 shares of the real estate investment trust's stock worth $287,632,000 after purchasing an additional 1,048,685 shares during the last quarter. First Eagle Investment Management LLC raised its position in Extra Space Storage by 61.8% in the 4th quarter. First Eagle Investment Management LLC now owns 2,552,053 shares of the real estate investment trust's stock worth $332,328,000 after purchasing an additional 974,804 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its position in shares of Extra Space Storage by 191.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,362,422 shares of the real estate investment trust's stock valued at $177,425,000 after acquiring an additional 895,013 shares during the last quarter. Institutional investors own 99.11% of the company's stock.

Insider Activity

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

Analyst Ratings Changes

Several brokerages have commented on EXR. Wells Fargo & Company dropped their target price on shares of Extra Space Storage from $150.00 to $148.00 and set an "overweight" rating for the company in a research report on Thursday, April 16th. Wall Street Zen upgraded shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Saturday. Barclays upped their target price 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. BNP Paribas Exane upgraded shares of Extra Space Storage from a "neutral" rating to an "outperform" rating and set a $154.00 target price for the company in a research report on Wednesday, March 18th. Finally, Bank of America cut shares of Extra Space Storage from a "neutral" rating to an "underperform" rating and set a $143.00 target price for the company. in a research report on Thursday, February 5th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $151.86.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock opened at $144.50 on Monday. The firm has a fifty day moving average of $139.25 and a two-hundred day moving average of $138.48. The stock has a market capitalization of $30.53 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 4.69 and a beta of 1.20. Extra Space Storage Inc has a 52 week low of $125.71 and a 52 week high of $155.19. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37.

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 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.87). Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The firm had revenue of $856.03 million during the quarter, compared to analyst estimates of $851.35 million. During the same period last year, the firm earned $2.00 EPS. Extra Space Storage's quarterly revenue 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, equities research analysts predict that Extra Space Storage Inc will post 8.23 EPS 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. Stockholders of record on Monday, June 15th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.5%. Extra Space Storage's payout ratio is 145.29%.

Extra Space Storage Company Profile

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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