Mitsubishi UFJ Asset Management Co. Ltd. Raises Holdings in Extra Space Storage Inc $EXR

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Extra Space Storage Inc (NYSE:EXR) by 5.9% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 554,945 shares of the real estate investment trust’s stock after buying an additional 30,778 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.26% of Extra Space Storage worth $81,821,000 as of its most recent filing with the SEC.

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

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $141.41, for a total transaction of $1,060,575.00. Following the transaction, the chief executive officer owned 19,760 shares in the company, valued at approximately $2,794,261.60. The trade was a 27.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EXR. Weiss Ratings reissued a “hold (c)” rating on shares of Extra Space Storage in a research note on Wednesday, October 8th. Wall Street Zen lowered Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Evercore ISI restated a “cautious” rating on shares of Extra Space Storage in a report on Monday, November 3rd. Royal Bank Of Canada lowered their price objective on Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating for the company in a research report on Friday. Finally, Truist Financial reduced their target price on Extra Space Storage from $158.00 to $150.00 and set a “hold” rating on the stock in a research report on Tuesday, August 19th. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $148.36.

Extra Space Storage Price Performance

EXR stock opened at $133.30 on Monday. The company has a market cap of $28.29 billion, a PE ratio of 29.75, a price-to-earnings-growth 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 has a 50-day moving average price of $142.90 and a two-hundred day moving average price of $145.04. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $175.57.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.02. The business had revenue of $838.53 million for 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 company’s revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.07 EPS. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. As a group, research analysts predict that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

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

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.