Nomura Holdings Inc. Makes New $4.73 Million Investment in Extra Space Storage Inc. (NYSE:EXR)

Nomura Holdings Inc. bought a new stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 31,592 shares of the real estate investment trust's stock, valued at approximately $4,726,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in Extra Space Storage in the 4th quarter valued at $25,000. Harbour Investments Inc. increased its stake in Extra Space Storage by 90.9% in the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 80 shares during the period. Quent Capital LLC lifted its holdings in shares of Extra Space Storage by 89.0% in the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 154 shares during the period. Asset Planning Inc acquired a new stake in shares of Extra Space Storage in the 4th quarter valued at approximately $52,000. Finally, Quarry LP lifted its holdings in shares of Extra Space Storage by 156.1% in the 4th quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock valued at $53,000 after buying an additional 217 shares during the period. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Extra Space Storage news, Director Joseph J. Bonner sold 672 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $149.10, for a total transaction of $100,195.20. Following the completion of the sale, the director now owns 4,557 shares of the company's stock, valued at approximately $679,448.70. The trade was a 12.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total value of $1,105,875.00. Following the sale, the chief executive officer now directly owns 9,190 shares of the company's stock, valued at approximately $1,355,065.50. This trade represents a 44.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,392 shares of company stock valued at $1,392,315 over the last quarter. Company insiders own 0.96% of the company's stock.

Extra Space Storage Price Performance

Extra Space Storage stock traded up $0.84 during mid-day trading on Monday, hitting $152.60. 699,157 shares of the company were exchanged, compared to its average volume of 1,055,200. The company has a market capitalization of $32.38 billion, a P/E ratio of 39.95, a PEG ratio of 7.76 and a beta of 1.14. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. Extra Space Storage Inc. has a 12-month low of $121.03 and a 12-month high of $184.87. The business's 50 day simple moving average is $143.10 and its two-hundred day simple moving average is $151.92.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.04. The business had revenue of $820.00 million during the quarter, compared to the consensus estimate of $705.12 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business's revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.96 earnings per share. Analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date was Friday, March 14th. Extra Space Storage's dividend payout ratio is currently 150.35%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on EXR shares. Benchmark reduced their price target on Extra Space Storage from $61.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Bank of America lifted their price objective on Extra Space Storage from $155.00 to $161.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Mizuho began coverage on Extra Space Storage in a report on Wednesday, April 9th. They set an "outperform" rating and a $141.00 price objective for the company. Barclays reduced their price objective on Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating for the company in a report on Friday. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Extra Space Storage in a report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Extra Space Storage currently has a consensus rating of "Moderate Buy" and a consensus target price of $158.46.

Extra Space Storage 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.