Mitsubishi UFJ Asset Management Co. Ltd. Acquires 34,481 Shares of Extra Space Storage Inc $EXR

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Extra Space Storage Inc (NYSE:EXR) by 6.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 589,426 shares of the real estate investment trust’s stock after acquiring an additional 34,481 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Extra Space Storage were worth $83,074,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank bought a new position in Extra Space Storage in the second quarter valued at about $1,058,303,000. Resolution Capital Ltd boosted its stake in shares of Extra Space Storage by 116.2% in the 2nd quarter. Resolution Capital Ltd now owns 1,950,842 shares of the real estate investment trust’s stock valued at $287,632,000 after purchasing an additional 1,048,685 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Extra Space Storage by 60.1% during the 2nd quarter. Marshall Wace LLP now owns 1,477,404 shares of the real estate investment trust’s stock valued at $217,828,000 after purchasing an additional 554,666 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in Extra Space Storage by 27.9% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,413,454 shares of the real estate investment trust’s stock worth $340,152,000 after purchasing an additional 526,163 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Extra Space Storage by 10.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,513,795 shares of the real estate investment trust’s stock valued at $665,514,000 after purchasing an additional 419,240 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Stock Up 2.2%

Shares of EXR opened at $150.93 on Friday. The company has a market capitalization of $31.87 billion, a PE ratio of 32.81, a PEG ratio of 2.97 and a beta of 1.27. Extra Space Storage Inc has a 12 month low of $121.03 and a 12 month high of $160.58. The stock’s 50-day moving average price is $140.29 and its two-hundred day moving average price is $139.27. The company has a current ratio of 0.39, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Thursday, February 19th. The real estate investment trust reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.05. The company had revenue of $857.47 million during the quarter, compared to analysts’ expectations of $732.92 million. Extra Space Storage had a return on equity of 6.79% and a net margin of 28.84%.The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.03 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. On average, analysts anticipate that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a dividend of $1.62 per share. The ex-dividend date is Monday, March 16th. This represents a $6.48 annualized dividend and a yield of 4.3%. Extra Space Storage’s dividend payout ratio (DPR) is presently 140.87%.

Analyst Ratings Changes

A number of analysts have weighed in on EXR shares. Wall Street Zen cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Mizuho boosted their price objective on Extra Space Storage from $137.00 to $143.00 and gave the stock an “outperform” rating in a research report on Monday, January 12th. Truist Financial upped their target price on Extra Space Storage from $142.00 to $146.00 and gave the stock a “hold” rating in a report on Tuesday, January 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Extra Space Storage in a research note on Thursday, January 22nd. Finally, Morgan Stanley reduced their price target 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. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $145.13.

About Extra Space Storage

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.