Meiji Yasuda Asset Management Co Ltd. Has $840,000 Position in Extra Space Storage Inc. (NYSE:EXR)

Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 6.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,402 shares of the real estate investment trust’s stock after buying an additional 342 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Extra Space Storage were worth $840,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. EdgeRock Capital LLC acquired a new position in Extra Space Storage during the second quarter worth $25,000. Creekmur Asset Management LLC bought a new position in shares of Extra Space Storage in the 4th quarter valued at about $26,000. Centerpoint Advisors LLC acquired a new position in shares of Extra Space Storage during the 2nd quarter worth about $27,000. Blue Trust Inc. raised its holdings in shares of Extra Space Storage by 540.5% in the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 200 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in Extra Space Storage by 2,760.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 276 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Insiders Place Their Bets

In other news, EVP William N. Springer sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total value of $350,660.00. Following the completion of the transaction, the executive vice president now directly owns 11,919 shares in the company, valued at approximately $2,089,758.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP William N. Springer sold 2,000 shares of Extra Space Storage stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total value of $350,660.00. Following the transaction, the executive vice president now owns 11,919 shares in the company, valued at approximately $2,089,758.27. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kenneth M. Woolley sold 6,647 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $177.23, for a total value of $1,178,047.81. Following the transaction, the director now directly owns 404,306 shares of the company’s stock, valued at approximately $71,655,152.38. The disclosure for this sale can be found here. Insiders have sold 18,970 shares of company stock worth $3,172,757 over the last ninety days. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $180.41 on Friday. The business has a fifty day moving average price of $170.03 and a two-hundred day moving average price of $154.68. The stock has a market capitalization of $38.20 billion, a PE ratio of 40.18, a P/E/G ratio of 2.56 and a beta of 0.86. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.20 and a quick ratio of 0.20. Extra Space Storage Inc. has a fifty-two week low of $101.19 and a fifty-two week high of $184.87.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $6.48 annualized dividend and a yield of 3.59%. Extra Space Storage’s dividend payout ratio is 144.32%.

Analysts Set New Price Targets

Several research firms have issued reports on EXR. Barclays upped their price objective on Extra Space Storage from $158.00 to $188.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. KeyCorp raised their price target on Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Citigroup decreased their price objective on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, June 7th. StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company upped their price target on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $170.93.

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.