Sumitomo Mitsui Trust Group Inc. Trims Stock Position in Extra Space Storage Inc $EXR

Sumitomo Mitsui Trust Group Inc. lessened its stake in Extra Space Storage Inc (NYSE:EXR) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 649,625 shares of the real estate investment trust’s stock after selling 24,725 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.31% of Extra Space Storage worth $84,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in EXR. Avalon Trust Co acquired a new stake in shares of Extra Space Storage during the third quarter worth about $28,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Extra Space Storage in the 3rd quarter valued at about $28,000. Versant Capital Management Inc grew its stake in Extra Space Storage by 60.2% during the 3rd quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 80 shares during the last quarter. Davis Capital Management purchased a new position in Extra Space Storage during the 3rd quarter worth approximately $35,000. Finally, Rosenberg Matthew Hamilton increased its position in Extra Space Storage by 442.9% during the fourth quarter. Rosenberg Matthew Hamilton now owns 266 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 217 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Up 1.1%

Shares of Extra Space Storage stock opened at $141.32 on Wednesday. The company has a market cap of $29.85 billion, a P/E ratio of 30.72, a PEG ratio of 2.81 and a beta of 1.26. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.39 and a current ratio of 0.39. Extra Space Storage Inc has a one year low of $125.71 and a one year high of $155.19. The firm has a fifty day moving average of $140.72 and a two-hundred day moving average of $138.46.

Extra Space Storage (NYSE:EXR) last issued its 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. Extra Space Storage had a net margin of 28.84% and a return on equity of 6.79%. The business had revenue of $857.47 million for the quarter, compared to the consensus estimate of $732.92 million. During the same quarter in the previous year, the firm earned $2.03 earnings per share. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. On average, analysts forecast that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Monday, March 16th. Extra Space Storage’s payout ratio is currently 140.87%.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $142.08, for a total transaction of $1,065,600.00. Following the transaction, the chief executive officer owned 66,495 shares in the company, valued at approximately $9,447,609.60. The trade was a 10.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EXR. Wall Street Zen upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Scotiabank increased their price target on shares of Extra Space Storage from $145.00 to $156.00 and gave the stock a “sector perform” rating in a research note on Monday, March 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Extra Space Storage in a research report on Thursday, January 22nd. JPMorgan Chase & Co. upped their target price on shares of Extra Space Storage from $142.00 to $144.00 and gave the company a “neutral” rating in a report on Monday, March 23rd. Finally, Bank of America lowered Extra Space Storage from a “neutral” rating to an “underperform” rating and set a $143.00 price target on the stock. in a report on Thursday, February 5th. Six investment 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, the stock currently has a consensus rating of “Hold” and an average target price of $143.80.

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.