Daiwa Securities Group Inc. Has $364.07 Million Holdings in Extra Space Storage Inc. (NYSE:EXR)

Daiwa Securities Group Inc. increased its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 10.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 2,020,459 shares of the real estate investment trust’s stock after purchasing an additional 189,949 shares during the period. Extra Space Storage accounts for 1.7% of Daiwa Securities Group Inc.’s investment portfolio, making the stock its 17th largest holding. Daiwa Securities Group Inc.’s holdings in Extra Space Storage were worth $364,066,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EXR. EdgeRock Capital LLC acquired a new position in shares of Extra Space Storage during the 2nd quarter worth approximately $25,000. Centerpoint Advisors LLC bought a new position in Extra Space Storage during the second quarter worth $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Extra Space Storage in the third quarter valued at $33,000. Blue Trust Inc. raised its position in shares of Extra Space Storage by 540.5% in the second quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 200 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in Extra Space Storage by 2,760.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 276 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Stock Up 0.8 %

Shares of NYSE EXR opened at $168.14 on Friday. The company has a market cap of $35.64 billion, a price-to-earnings ratio of 44.02, a PEG ratio of 8.40 and a beta of 0.87. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 12 month low of $125.32 and a 12 month high of $184.87. The stock has a 50-day moving average price of $170.44 and a two-hundred day moving average price of $163.52.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company had revenue of $824.80 million for the quarter, compared to analyst estimates of $826.93 million. During the same quarter in the prior year, the company earned $2.02 earnings per share. Extra Space Storage’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, analysts forecast that Extra Space Storage Inc. will post 8.09 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend is Monday, December 16th. Extra Space Storage’s dividend payout ratio (DPR) is 169.63%.

Insider Buying and Selling

In other Extra Space Storage news, Director Kenneth M. Woolley sold 6,647 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $177.23, for a total value of $1,178,047.81. Following the sale, the director now owns 404,306 shares in the company, valued at approximately $71,655,152.38. The trade was a 1.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP William N. Springer sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total transaction of $350,660.00. Following the completion of the sale, the executive vice president now directly owns 11,919 shares in the company, valued at approximately $2,089,758.27. This represents a 14.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,228 shares of company stock worth $3,374,617 in the last 90 days. Insiders own 1.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on EXR shares. Barclays raised their price target on shares of Extra Space Storage from $188.00 to $192.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Jefferies Financial Group raised Extra Space Storage from a “hold” rating to a “buy” rating and increased their price target for the stock from $162.00 to $204.00 in a research report on Wednesday, September 18th. Truist Financial lifted their price objective on Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a report on Friday, August 16th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $175.00 target price on shares of Extra Space Storage in a report on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $171.50.

Extra Space Storage Company 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.