Extra Space Storage Inc. (NYSE:EXR) is Daiwa Securities Group Inc.'s 9th Largest Position

Daiwa Securities Group Inc. raised its holdings in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 8.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,724,293 shares of the real estate investment trust's stock after acquiring an additional 211,395 shares during the quarter. Extra Space Storage comprises approximately 2.7% of Daiwa Securities Group Inc.'s portfolio, making the stock its 9th biggest holding. Daiwa Securities Group Inc. owned approximately 1.29% of Extra Space Storage worth $436,786,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of EXR. Vanguard Group Inc. raised its holdings in Extra Space Storage by 55.7% during the 3rd quarter. Vanguard Group Inc. now owns 33,686,341 shares of the real estate investment trust's stock valued at $4,095,585,000 after acquiring an additional 12,055,172 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Extra Space Storage by 599.8% in the third quarter. JPMorgan Chase & Co. now owns 3,345,787 shares of the real estate investment trust's stock worth $406,781,000 after purchasing an additional 2,867,657 shares during the period. Norges Bank bought a new position in shares of Extra Space Storage in the fourth quarter worth $380,823,000. Diamond Hill Capital Management Inc. bought a new position in shares of Extra Space Storage in the third quarter worth $173,621,000. Finally, First Eagle Investment Management LLC increased its holdings in shares of Extra Space Storage by 233,362.8% in the third quarter. First Eagle Investment Management LLC now owns 1,323,734 shares of the real estate investment trust's stock worth $160,940,000 after purchasing an additional 1,323,167 shares during the period. Institutional investors own 99.11% of the company's stock.

Insider Buying and Selling

In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $145.00, for a total value of $195,750.00. Following the completion of the transaction, the executive vice president now directly owns 37,028 shares of the company's stock, valued at $5,369,060. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm's stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the transaction, the executive vice president now owns 37,028 shares of the company's stock, valued at $5,369,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Samrat Sondhi sold 2,048 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the transaction, the chief marketing officer now directly owns 94,126 shares of the company's stock, valued at approximately $13,785,693.96. The disclosure for this sale can be found here. Insiders sold a total of 3,532 shares of company stock valued at $514,819 over the last three months. Corporate insiders own 1.36% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EXR. Barclays began coverage on shares of Extra Space Storage in a report on Wednesday, March 27th. They issued an "overweight" rating and a $157.00 price target on the stock. Wells Fargo & Company upped their price target on shares of Extra Space Storage from $150.00 to $160.00 and gave the stock an "overweight" rating in a report on Friday, April 5th. Morgan Stanley raised shares of Extra Space Storage from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $115.00 to $150.00 in a report on Thursday, December 21st. Scotiabank initiated coverage on shares of Extra Space Storage in a research report on Tuesday, February 13th. They issued a "sector underperform" rating and a $131.00 target price for the company. Finally, StockNews.com lowered shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Saturday, March 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Extra Space Storage has an average rating of "Hold" and an average target price of $150.17.

Extra Space Storage Trading Up 0.2 %

Shares of Extra Space Storage stock traded up $0.29 during trading on Wednesday, reaching $136.10. 891,769 shares of the stock were exchanged, compared to its average volume of 1,173,798. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.71. The stock's fifty day moving average is $142.98 and its 200 day moving average is $137.45. The firm has a market cap of $28.80 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 3.38 and a beta of 0.74. Extra Space Storage Inc. has a 1 year low of $101.19 and a 1 year high of $164.99.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing analysts' consensus estimates of $2.03 by ($1.01). The firm had revenue of $797.77 million for the quarter, compared to analysts' expectations of $778.05 million. Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The business's revenue for the quarter was up 57.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.09 earnings per share. As a group, equities research analysts expect that Extra Space Storage Inc. will post 8.05 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date was Thursday, March 14th. Extra Space Storage's payout ratio is currently 131.17%.

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.