Extra Space Storage Inc $EXR Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Extra Space Storage Inc (NYSE:EXR) by 16.3% in the third quarter, Holdings Channel.com reports. The firm owned 674,350 shares of the real estate investment trust’s stock after selling 131,255 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Extra Space Storage were worth $95,043,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of EXR. FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its stake in shares of Extra Space Storage by 4.6% during the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,825 shares of the real estate investment trust’s stock valued at $269,000 after buying an additional 80 shares during the last quarter. Brown Advisory Inc. raised its holdings in Extra Space Storage by 1.8% in the second quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock valued at $653,000 after acquiring an additional 80 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Extra Space Storage by 10.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 983 shares of the real estate investment trust’s stock valued at $139,000 after acquiring an additional 91 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Extra Space Storage by 6.5% during 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 acquiring an additional 95 shares during the last quarter. Finally, CX Institutional grew its holdings in Extra Space Storage by 8.7% during the 3rd quarter. CX Institutional now owns 1,193 shares of the real estate investment trust’s stock worth $168,000 after acquiring an additional 95 shares in the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $140.42 on Wednesday. The company has a market cap of $29.80 billion, a P/E ratio of 31.34, a PEG ratio of 2.59 and a beta of 1.27. The business has a 50 day moving average of $132.04 and a two-hundred day moving average of $139.77. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $162.77. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.89.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.02. Extra Space Storage had a return on equity of 6.56% and a net margin of 28.40%.The business had revenue of $858.46 million for the quarter, compared to the consensus estimate of $736.26 million. During the same quarter last year, the business posted $2.07 EPS. The business’s revenue 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 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 was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were issued 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 payout ratio is 144.64%.

Wall Street Analyst Weigh In

EXR has been the topic of a number of recent analyst reports. Evercore ISI restated a “cautious” rating on shares of Extra Space Storage in a research note on Monday, November 3rd. Royal Bank Of Canada lowered their price objective on Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating for the company in a report on Friday, November 7th. Mizuho upped their price objective on Extra Space Storage from $137.00 to $143.00 and gave the company an “outperform” rating in a research note on Monday. Truist Financial decreased their target price on Extra Space Storage from $150.00 to $142.00 and set a “hold” rating for the company in a research report on Tuesday, December 16th. Finally, UBS Group lowered their price target on Extra Space Storage from $156.00 to $148.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Six research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $146.27.

Extra Space Storage Company 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.