Extra Space Storage Inc $EXR Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Extra Space Storage Inc (NYSE:EXR) by 5.9% during the second quarter, HoldingsChannel reports. The firm owned 554,945 shares of the real estate investment trust’s stock after buying an additional 30,778 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Extra Space Storage were worth $81,821,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its holdings in Extra Space Storage by 4.6% during the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,825 shares of the real estate investment trust’s stock valued at $269,000 after purchasing an additional 80 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Extra Space Storage by 6.5% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,559 shares of the real estate investment trust’s stock valued at $230,000 after buying an additional 95 shares during the last quarter. Blair William & Co. IL boosted its position in Extra Space Storage by 4.1% in the 1st quarter. Blair William & Co. IL now owns 2,693 shares of the real estate investment trust’s stock valued at $400,000 after buying an additional 105 shares during the last quarter. Benjamin Edwards Inc. increased its position in shares of Extra Space Storage by 2.5% during the first quarter. Benjamin Edwards Inc. now owns 4,759 shares of the real estate investment trust’s stock worth $707,000 after acquiring an additional 118 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC increased its position in shares of Extra Space Storage by 0.4% during the second quarter. Moody Lynn & Lieberson LLC now owns 28,289 shares of the real estate investment trust’s stock worth $4,171,000 after acquiring an additional 119 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $141.41, for a total transaction of $1,060,575.00. Following the completion of the sale, the chief executive officer directly owned 19,760 shares of the company’s stock, valued at $2,794,261.60. This trade represents a 27.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

EXR has been the subject of a number of analyst reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $146.00 price target (down previously from $169.00) on shares of Extra Space Storage in a report on Thursday, August 21st. Evercore ISI reiterated a “cautious” rating on shares of Extra Space Storage in a research note on Monday, November 3rd. Wall Street Zen downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Scotiabank cut their price target on shares of Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Extra Space Storage in a report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $148.36.

Extra Space Storage Price Performance

Shares of Extra Space Storage stock opened at $133.30 on Monday. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $175.57. 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 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’s 50-day moving average price is $142.90 and its two-hundred day moving average price is $145.04.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.02. Extra Space Storage had a net margin of 28.40% and a return on equity of 6.53%. The company had revenue of $838.53 million for the quarter, compared to analysts’ expectations of $736.26 million. During the same quarter in the previous year, the company posted $2.07 EPS. The business’s revenue was up 4.1% compared to the same quarter last year. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. As a group, sell-side analysts anticipate that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued 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 currently 144.64%.

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.