Sumitomo Mitsui Trust Group Inc. Has $118.12 Million Holdings in Extra Space Storage Inc (NYSE:EXR)

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 795,465 shares of the real estate investment trust's stock after selling 11,044 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.37% of Extra Space Storage worth $118,119,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Cohen & Steers Inc. increased its holdings in Extra Space Storage by 5.9% in the fourth quarter. Cohen & Steers Inc. now owns 9,246,133 shares of the real estate investment trust's stock valued at $1,383,094,000 after purchasing an additional 516,941 shares during the last quarter. Norges Bank acquired a new position in shares of Extra Space Storage during the 4th quarter worth about $938,647,000. Dimensional Fund Advisors LP increased its stake in shares of Extra Space Storage by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,136,640 shares of the real estate investment trust's stock valued at $469,229,000 after acquiring an additional 24,533 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Extra Space Storage by 3.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,064,970 shares of the real estate investment trust's stock valued at $458,520,000 after acquiring an additional 104,986 shares during the period. Finally, Northern Trust Corp raised its position in shares of Extra Space Storage by 48.7% in the 4th quarter. Northern Trust Corp now owns 2,875,049 shares of the real estate investment trust's stock valued at $430,107,000 after acquiring an additional 941,212 shares during the period. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Stock Up 0.3%

Shares of NYSE EXR traded up $0.44 during midday trading on Wednesday, reaching $150.94. The company's stock had a trading volume of 515,799 shares, compared to its average volume of 1,055,240. The stock has a 50 day simple moving average of $147.85 and a 200-day simple moving average of $148.32. 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 stock has a market capitalization of $32.03 billion, a price-to-earnings ratio of 35.03, a PEG ratio of 3.58 and a beta of 1.10. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, beating analysts' consensus estimates of $1.96 by $0.04. Extra Space Storage had a net margin of 27.84% and a return on equity of 6.11%. The business had revenue of $820.00 million during the quarter, compared to the consensus estimate of $705.12 million. During the same quarter last year, the firm earned $1.96 earnings per share. The firm's revenue for the quarter was up 2.6% compared to the same quarter last year. Equities research analysts predict that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date was Monday, June 16th. Extra Space Storage's dividend payout ratio is currently 150.35%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EXR. Barclays lowered their target price on shares of Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Wall Street Zen raised shares of Extra Space Storage from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th. BNP Paribas Exane initiated coverage on Extra Space Storage in a report on Tuesday, June 24th. They set a "neutral" rating and a $156.00 target price on the stock. Mizuho boosted their target price on Extra Space Storage from $141.00 to $153.00 and gave the company an "outperform" rating in a research note on Wednesday, May 28th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Extra Space Storage currently has an average rating of "Hold" and a consensus target price of $159.29.

About Extra Space Storage

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.