Resona Asset Management Co. Ltd. Has $17.47 Million Holdings in Extra Space Storage Inc $EXR

Resona Asset Management Co. Ltd. trimmed its position in shares of Extra Space Storage Inc (NYSE:EXR) by 5.1% during the second quarter, Holdings Channel.com reports. The firm owned 119,404 shares of the real estate investment trust’s stock after selling 6,387 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Extra Space Storage were worth $17,466,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GKV Capital Management Co. Inc. bought a new position in shares of Extra Space Storage in the first quarter valued at $29,000. Chung Wu Investment Group LLC acquired a new stake in shares of Extra Space Storage in the 2nd quarter worth about $29,000. Zions Bancorporation National Association UT acquired a new stake in shares of Extra Space Storage in the 1st quarter worth about $50,000. Ameritas Advisory Services LLC bought a new position in Extra Space Storage in the 2nd quarter valued at about $75,000. Finally, Avalon Trust Co acquired a new position in Extra Space Storage during the 1st quarter valued at about $79,000. Institutional investors own 99.11% of the company’s stock.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $141.41, for a total value of $1,060,575.00. Following the sale, the chief executive officer owned 19,760 shares of the company’s stock, valued at approximately $2,794,261.60. The trade was a 27.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.36% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on the company. Barclays decreased their price objective on Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Extra Space Storage in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Wells Fargo & Company upgraded shares of Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 target price for the company in a research note on Tuesday, August 26th. Finally, Evercore ISI reissued a “cautious” rating on shares of Extra Space Storage in a research report on Monday. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, Extra Space Storage currently has an average rating of “Hold” and an average target price of $148.36.

Extra Space Storage Stock Up 1.7%

EXR stock opened at $133.30 on Friday. The stock has a market cap of $28.29 billion, a P/E ratio of 29.75, a P/E/G ratio of 2.56 and a beta of 1.14. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.88. The stock’s fifty day simple moving average is $142.90 and its two-hundred day simple moving average is $145.00. Extra Space Storage Inc has a 1-year low of $121.03 and a 1-year high of $175.57.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.02. The firm had revenue of $838.53 million during the quarter, compared to analyst estimates of $736.26 million. Extra Space Storage had a return on equity of 6.53% and a net margin of 28.40%.The business’s revenue was up 4.1% compared to the same quarter last year. During the same period last year, the firm posted $2.07 EPS. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. Analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Monday, September 15th. Extra Space Storage’s dividend payout ratio is currently 144.64%.

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.