Resona Asset Management Co. Ltd. Acquires 7,831 Shares of Extra Space Storage Inc $EXR

Resona Asset Management Co. Ltd. lifted its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 6.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 127,235 shares of the real estate investment trust’s stock after buying an additional 7,831 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Extra Space Storage were worth $17,982,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of EXR. FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its stake in Extra Space Storage by 4.6% during the second quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,825 shares of the real estate investment trust’s stock worth $269,000 after acquiring an additional 80 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Extra Space Storage by 60.2% during the third quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 80 shares during the period. Brown Advisory Inc. boosted its position in shares of Extra Space Storage by 1.8% during the 2nd quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock worth $653,000 after purchasing an additional 80 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Extra Space Storage by 10.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 983 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 91 shares during the period. Finally, Farther Finance Advisors LLC increased 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 in the last quarter. Institutional investors own 99.11% of the company’s stock.

Wall Street Analyst Weigh In

EXR has been the topic of several recent research reports. Royal Bank Of Canada cut their price target on Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating on the stock in a report on Friday, November 7th. Morgan Stanley cut their target price on Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating on the stock in a report on Friday, December 5th. UBS Group reduced their price target on shares of Extra Space Storage from $156.00 to $148.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Mizuho raised their price objective on shares of Extra Space Storage from $137.00 to $143.00 and gave the company an “outperform” rating in a research note on Monday, January 12th. Finally, Wall Street Zen cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Six research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $146.53.

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $141.49 on Friday. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.89. The stock has a market cap of $30.03 billion, a PE ratio of 31.58, a price-to-earnings-growth ratio of 2.72 and a beta of 1.27. The stock’s fifty day simple moving average is $134.17 and its two-hundred day simple moving average is $139.58. Extra Space Storage Inc has a 1-year low of $121.03 and a 1-year high of $162.77.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 EPS for the quarter, beating 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 6.56%. The company had revenue of $858.46 million during the quarter, compared to the consensus estimate of $736.26 million. During the same quarter in the prior year, the company posted $2.07 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. As a group, analysts forecast that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.6%. Extra Space Storage’s dividend payout ratio (DPR) is currently 144.64%.

Extra Space Storage Profile

Extra Space Storage (NYSE: EXR) is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.