Sumitomo Mitsui DS Asset Management Company Ltd Acquires 674 Shares of Extra Space Storage Inc. (NYSE:EXR)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Extra Space Storage Inc. (NYSE:EXR) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 56,083 shares of the real estate investment trust’s stock after acquiring an additional 674 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Extra Space Storage were worth $8,992,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of EXR. First Horizon Advisors Inc. raised its holdings in shares of Extra Space Storage by 1,272.7% in the 1st quarter. First Horizon Advisors Inc. now owns 151 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 140 shares during the period. Zions Bancorporation N.A. increased its holdings in shares of Extra Space Storage by 241.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 150 shares during the last quarter. Money Concepts Capital Corp bought a new stake in Extra Space Storage in the 4th quarter valued at $27,000. EverSource Wealth Advisors LLC lifted its holdings in Extra Space Storage by 162.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 143 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in Extra Space Storage during the third quarter worth $32,000. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Performance

NYSE:EXR opened at $132.46 on Monday. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $164.99. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $28.03 billion, a P/E ratio of 26.81, a P/E/G ratio of 3.25 and a beta of 0.74. The company has a fifty day moving average of $142.57 and a 200-day moving average of $137.82.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.01). The firm had revenue of $797.77 million during the quarter, compared to analyst estimates of $778.05 million. Extra Space Storage had a net margin of 31.81% and a return on equity of 8.34%. The business’s quarterly revenue was up 57.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.09 earnings per share. As a group, sell-side analysts anticipate that Extra Space Storage Inc. will post 8.05 EPS for the current year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend was Thursday, March 14th. Extra Space Storage’s payout ratio is presently 131.17%.

Wall Street Analysts Forecast Growth

EXR has been the subject of several research reports. The Goldman Sachs Group lifted their price target on Extra Space Storage from $168.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Truist Financial upped their target price on Extra Space Storage from $138.00 to $152.00 and gave the company a “hold” rating in a research report on Thursday, December 28th. StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. TheStreet upgraded shares of Extra Space Storage from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Extra Space Storage in a research report on Tuesday, January 30th. They issued a “hold” rating and a $141.00 target price for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Extra Space Storage has a consensus rating of “Hold” and a consensus price target of $150.17.

Insider Buying and Selling

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

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.