Extra Space Storage Inc (EXR) Holdings Lowered by Nomura Asset Management Co. Ltd.
Nomura Asset Management Co. Ltd. reduced its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 5.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 92,146 shares of the real estate investment trust’s stock after selling 4,960 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.07% of Extra Space Storage worth $7,365,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of EXR. Penserra Capital Management LLC bought a new position in shares of Extra Space Storage in the third quarter valued at about $131,000. Federated Investors Inc. PA bought a new stake in Extra Space Storage during the 2nd quarter worth about $218,000. Donaldson Capital Management LLC bought a new stake in Extra Space Storage during the 2nd quarter worth about $231,000. Mackenzie Financial Corp bought a new stake in Extra Space Storage during the 3rd quarter worth about $237,000. Finally, Pacer Advisors Inc. increased its stake in shares of Extra Space Storage by 8.3% in the 2nd quarter. Pacer Advisors Inc. now owns 3,042 shares of the real estate investment trust’s stock valued at $237,000 after acquiring an additional 232 shares during the last quarter.
In other Extra Space Storage news, SVP Grace Kunde sold 350 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $87.65, for a total transaction of $30,677.50. Following the completion of the transaction, the senior vice president now owns 11,209 shares of the company’s stock, valued at approximately $982,468.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Overturf sold 1,300 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $78.49, for a total value of $102,037.00. Following the completion of the transaction, the executive vice president now directly owns 84,975 shares of the company’s stock, valued at approximately $6,669,687.75. The disclosure for this sale can be found here. Insiders sold a total of 64,250 shares of company stock worth $5,276,770 over the last 90 days. Corporate insiders own 3.72% of the company’s stock.
Shares of Extra Space Storage Inc (EXR) traded up $0.57 on Thursday, hitting $85.44. The company’s stock had a trading volume of 890,500 shares, compared to its average volume of 1,012,655. The company has a market capitalization of $10,694.28, a price-to-earnings ratio of 19.83, a PEG ratio of 3.27 and a beta of 0.39. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.75 and a current ratio of 0.75. Extra Space Storage Inc has a 52-week low of $71.34 and a 52-week high of $88.05.
Extra Space Storage (NYSE:EXR) last issued its earnings results on Wednesday, November 1st. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.03. Extra Space Storage had a return on equity of 14.41% and a net margin of 33.21%. The firm had revenue of $284.16 million for the quarter, compared to analyst estimates of $246.85 million. During the same period in the previous year, the company posted $1.02 earnings per share. The business’s revenue was up 10.5% on a year-over-year basis. equities analysts forecast that Extra Space Storage Inc will post 4.34 EPS for the current year.
Extra Space Storage declared that its board has authorized a share buyback plan on Monday, November 13th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.78 dividend. The ex-dividend date is Thursday, December 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.65%. Extra Space Storage’s dividend payout ratio is currently 114.71%.
EXR has been the subject of several research analyst reports. Zacks Investment Research upgraded Extra Space Storage from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Wednesday, October 11th. KeyCorp reiterated a “buy” rating and set a $82.00 price objective on shares of Extra Space Storage in a research note on Friday, August 25th. Robert W. Baird reiterated a “buy” rating and set a $92.00 price objective on shares of Extra Space Storage in a research report on Wednesday, November 29th. Wells Fargo & Company set a $93.00 price objective on Extra Space Storage and gave the company a “buy” rating in a research note on Thursday, November 30th. Finally, BMO Capital Markets reissued a “hold” rating and set a $78.00 price target on shares of Extra Space Storage in a research note on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Extra Space Storage has a consensus rating of “Hold” and an average price target of $86.73.
Extra Space Storage Company Profile
Extra Space Storage Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, manages, acquires, develops and redevelops self-storage properties located throughout the United States. The Company operates through three segments: rental operations; tenant reinsurance, and property management, acquisition and development.
Receive News & Ratings for Extra Space Storage Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Extra Space Storage Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.