Sumitomo Mitsui Trust Holdings Inc. Trims Holdings in Extra Space Storage Inc. (NYSE:EXR)

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 16.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,028,450 shares of the real estate investment trust's stock after selling 197,735 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.49% of Extra Space Storage worth $164,891,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Louisiana State Employees Retirement System bought a new stake in Extra Space Storage during the fourth quarter worth about $2,052,000. NewEdge Wealth LLC lifted its position in Extra Space Storage by 30.3% during the fourth quarter. NewEdge Wealth LLC now owns 3,655 shares of the real estate investment trust's stock worth $586,000 after purchasing an additional 850 shares during the period. Clarius Group LLC lifted its position in Extra Space Storage by 14.5% during the fourth quarter. Clarius Group LLC now owns 2,362 shares of the real estate investment trust's stock worth $379,000 after purchasing an additional 300 shares during the period. Cerity Partners LLC lifted its position in Extra Space Storage by 47.4% during the fourth quarter. Cerity Partners LLC now owns 6,564 shares of the real estate investment trust's stock worth $1,052,000 after purchasing an additional 2,110 shares during the period. Finally, Liberty One Investment Management LLC bought a new stake in Extra Space Storage during the fourth quarter worth about $3,540,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on EXR shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Extra Space Storage in a research report on Tuesday, January 30th. They set a "hold" rating and a $141.00 price objective for the company. Barclays assumed coverage on shares of Extra Space Storage in a research report on Wednesday, March 27th. They set an "overweight" rating and a $157.00 price objective for the company. Morgan Stanley raised shares of Extra Space Storage from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $115.00 to $150.00 in a report on Thursday, December 21st. TheStreet raised shares of Extra Space Storage from a "c+" rating to a "b-" rating in a report on Thursday, January 11th. Finally, Raymond James reissued an "outperform" rating and issued a $160.00 target price on shares of Extra Space Storage in a report on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Extra Space Storage currently has a consensus rating of "Hold" and a consensus target price of $150.17.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm's stock in a transaction that occurred on 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Samrat Sondhi sold 2,048 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $146.46, for a total transaction of $299,950.08. Following the sale, the chief marketing officer now directly owns 94,126 shares of the company's stock, valued at approximately $13,785,693.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,532 shares of company stock valued at $514,819. 1.36% of the stock is currently owned by company insiders.

Extra Space Storage Trading Down 1.4 %

Shares of Extra Space Storage stock traded down $1.86 on Tuesday, hitting $135.87. The stock had a trading volume of 1,171,074 shares, compared to its average volume of 1,177,663. The stock has a 50 day moving average of $143.24 and a 200 day moving average of $137.36. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $164.99. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market capitalization of $28.75 billion, a P/E ratio of 27.50, a PEG ratio of 3.46 and a beta of 0.74.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (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% compared to the same quarter last year. During the same period in the prior year, the company earned $2.09 EPS. Sell-side analysts expect that Extra Space Storage Inc. will post 8.05 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend was Thursday, March 14th. Extra Space Storage's dividend payout ratio is presently 131.17%.

Extra Space Storage 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.