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Sumitomo Mitsui DS Asset Management Company Ltd Buys 3,504 Shares of Extra Space Storage Inc (NYSE:EXR)

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Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 5.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,700 shares of the real estate investment trust's stock after purchasing an additional 3,504 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Extra Space Storage were worth $10,498,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC grew its holdings in Extra Space Storage by 14.9% during the fourth quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust's stock worth $78,000 after acquiring an additional 68 shares during the period. Aptus Capital Advisors LLC grew its holdings in Extra Space Storage by 4.3% during the fourth quarter. Aptus Capital Advisors LLC now owns 1,638 shares of the real estate investment trust's stock worth $245,000 after acquiring an additional 68 shares during the period. Siemens Fonds Invest GmbH grew its holdings in Extra Space Storage by 3.0% during the fourth quarter. Siemens Fonds Invest GmbH now owns 2,320 shares of the real estate investment trust's stock worth $342,000 after acquiring an additional 68 shares during the period. Quadrant Capital Group LLC grew its holdings in Extra Space Storage by 5.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,327 shares of the real estate investment trust's stock worth $199,000 after acquiring an additional 73 shares during the period. Finally, Exchange Traded Concepts LLC grew its holdings in Extra Space Storage by 8.5% during the first quarter. Exchange Traded Concepts LLC now owns 934 shares of the real estate investment trust's stock worth $139,000 after acquiring an additional 73 shares during the period. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Stock Up 0.6%

NYSE EXR traded up $0.99 during trading on Thursday, reaching $152.77. 835,966 shares of the company's stock were exchanged, compared to its average volume of 1,062,376. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $184.87. The firm has a market capitalization of $32.42 billion, a PE ratio of 35.44, a P/E/G ratio of 3.69 and a beta of 1.10. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.85. The company's fifty day simple moving average is $148.05 and its 200-day simple moving average is $148.34.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.04. Extra Space Storage had a return on equity of 6.11% and a net margin of 27.84%. The company had revenue of $820.00 million during the quarter, compared to the consensus estimate of $705.12 million. During the same period last year, the business earned $1.96 EPS. The business's quarterly revenue was up 2.6% on a year-over-year basis. Sell-side analysts predict 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 Monday, June 30th. Stockholders of record on Monday, June 16th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date was Monday, June 16th. Extra Space Storage's dividend payout ratio (DPR) is presently 150.35%.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the completion of the sale, the chief executive officer directly owned 27,260 shares of the company's stock, valued at $4,098,541. This trade represents a 21.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.96% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Extra Space Storage from $160.00 to $162.00 and gave the stock a "neutral" rating in a report on Friday, June 13th. BNP Paribas Exane began coverage on Extra Space Storage in a research report on Tuesday, June 24th. They issued a "neutral" rating and a $156.00 price target for the company. Wall Street Zen upgraded Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. Evercore ISI increased their price target on Extra Space Storage from $144.00 to $149.00 and gave the company an "in-line" rating in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $159.29.

View Our Latest Stock Report on Extra Space Storage

Extra Space Storage Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Extra Space Storage (NYSE:EXR)

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