Sumitomo Mitsui Trust Group Inc. Cuts Stake in Extra Space Storage Inc $EXR

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Extra Space Storage Inc (NYSE:EXR) by 3.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 626,419 shares of the real estate investment trust’s stock after selling 23,206 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Extra Space Storage were worth $82,142,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. NewEdge Advisors LLC raised its stake in shares of Extra Space Storage by 9.3% in the first quarter. NewEdge Advisors LLC now owns 3,409 shares of the real estate investment trust’s stock valued at $506,000 after acquiring an additional 291 shares in the last quarter. Empowered Funds LLC grew its stake in Extra Space Storage by 15.5% during the 1st quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust’s stock worth $729,000 after purchasing an additional 661 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Extra Space Storage during the 2nd quarter worth $457,000. First Trust Advisors LP increased its holdings in Extra Space Storage by 184.1% during the 2nd quarter. First Trust Advisors LP now owns 108,205 shares of the real estate investment trust’s stock worth $15,954,000 after purchasing an additional 70,115 shares during the period. Finally, Brown Advisory Inc. increased its holdings in Extra Space Storage by 1.8% during the 2nd quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock worth $653,000 after purchasing an additional 80 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EXR. UBS Group lifted their price objective on Extra Space Storage from $158.00 to $163.00 and gave the company a “buy” rating in a research note on Friday. Weiss Ratings restated a “hold (c)” rating on shares of Extra Space Storage in a research note on Tuesday, April 21st. Wall Street Zen cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Bank of America upgraded shares of Extra Space Storage from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $147.00 to $156.00 in a research note on Tuesday, June 16th. Finally, Truist Financial increased their price objective on shares of Extra Space Storage from $140.00 to $148.00 and gave the company a “hold” rating in a research report on Wednesday, June 17th. Five equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, Extra Space Storage presently has a consensus rating of “Hold” and an average price target of $153.57.

Extra Space Storage Stock Up 0.9%

Shares of EXR traded up $1.24 during mid-day trading on Friday, reaching $143.92. The company’s stock had a trading volume of 876,920 shares, compared to its average volume of 1,094,788. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37. Extra Space Storage Inc has a 12-month low of $125.71 and a 12-month high of $155.19. The stock has a market cap of $30.40 billion, a PE ratio of 32.27, a price-to-earnings-growth ratio of 4.46 and a beta of 1.19. The company’s 50 day moving average is $144.90 and its 200 day moving average is $141.55.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.87). Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The business had revenue of $856.03 million during the quarter, compared to analyst estimates of $851.35 million. During the same period last year, the company earned $2.00 earnings per share. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Equities analysts anticipate that Extra Space Storage Inc will post 8.26 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.5%. The ex-dividend date was Monday, June 15th. Extra Space Storage’s dividend payout ratio (DPR) is currently 145.29%.

Insiders Place Their Bets

In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $150.00, for a total value of $495,000.00. Following the completion of the sale, the executive vice president directly owned 37,374 shares of the company’s stock, valued at $5,606,100. The trade was a 8.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.96% of the stock is currently owned by company insiders.

Extra Space Storage 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.