Mitsubishi UFJ Asset Management Co. Ltd. Has $53.33 Million Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 4.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 335,857 shares of the real estate investment trust’s stock after buying an additional 13,274 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Extra Space Storage were worth $53,334,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Whittier Trust Co. lifted its stake in shares of Extra Space Storage by 4.5% in the 4th quarter. Whittier Trust Co. now owns 1,656 shares of the real estate investment trust’s stock valued at $266,000 after acquiring an additional 72 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Extra Space Storage by 19.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 706 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 113 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Extra Space Storage by 30.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 515 shares of the real estate investment trust’s stock valued at $83,000 after purchasing an additional 119 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Extra Space Storage by 0.6% during the fourth quarter. Private Advisor Group LLC now owns 21,563 shares of the real estate investment trust’s stock worth $3,457,000 after purchasing an additional 119 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Extra Space Storage by 2.9% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,050 shares of the real estate investment trust’s stock valued at $810,000 after buying an additional 142 shares during the period. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Price Performance

EXR stock traded up $3.43 during midday trading on Wednesday, reaching $152.08. The company had a trading volume of 941,367 shares, compared to its average volume of 1,154,456. Extra Space Storage Inc. has a 1 year low of $101.19 and a 1 year high of $164.99. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.15 and a quick ratio of 0.15. The company has a market capitalization of $32.20 billion, a P/E ratio of 33.82, a P/E/G ratio of 3.63 and a beta of 0.76. The firm has a 50-day moving average price of $142.04 and a 200-day moving average price of $140.88.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). The firm had revenue of $797.77 million during the quarter, compared to analysts’ expectations of $778.05 million. Extra Space Storage had a return on equity of 6.76% and a net margin of 29.10%. Extra Space Storage’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.09 earnings per share. On average, research analysts anticipate that Extra Space Storage Inc. will post 8.05 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $1.62 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.26%. Extra Space Storage’s dividend payout ratio (DPR) is 144.32%.

Insider Activity at Extra Space Storage

In other news, CMO Samrat Sondhi sold 2,048 shares of Extra Space Storage stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $146.46, for a total value of $299,950.08. Following the sale, the chief marketing officer now directly owns 94,126 shares in the company, valued at approximately $13,785,693.96. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CMO Samrat Sondhi sold 2,048 shares of Extra Space Storage stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $146.46, for a total transaction of $299,950.08. Following the sale, the chief marketing officer now directly owns 94,126 shares in the company, valued at $13,785,693.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total value of $195,750.00. Following the transaction, the executive vice president now directly owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,532 shares of company stock valued at $514,819. Insiders own 1.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on EXR. Evercore ISI cut their price objective on Extra Space Storage from $145.00 to $139.00 in a research note on Wednesday, May 1st. Barclays initiated coverage on Extra Space Storage in a research report on Wednesday, March 27th. They set an “overweight” rating and a $157.00 target price on the stock. Deutsche Bank Aktiengesellschaft started coverage on Extra Space Storage in a research note on Tuesday, January 30th. They issued a “hold” rating and a $141.00 price objective for the company. Scotiabank assumed coverage on shares of Extra Space Storage in a report on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 price target on the stock. Finally, Wells Fargo & Company upped their price objective on Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $149.67.

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.