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

Sumitomo Mitsui Trust Group Inc. lessened its stake in Extra Space Storage Inc (NYSE:EXR) by 3.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 626,419 shares of the real estate investment trust’s stock after selling 23,206 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.30% of Extra Space Storage worth $82,142,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cromwell Holdings LLC grew its holdings in Extra Space Storage by 14.6% in the 4th quarter. Cromwell Holdings LLC now owns 574 shares of the real estate investment trust’s stock valued at $75,000 after buying an additional 73 shares in the last quarter. Apollon Wealth Management LLC boosted its position in shares of Extra Space Storage by 1.9% during the 1st quarter. Apollon Wealth Management LLC now owns 3,986 shares of the real estate investment trust’s stock valued at $523,000 after acquiring an additional 75 shares during the last quarter. Gilman Hill Asset Management LLC boosted its position in shares of Extra Space Storage by 5.0% during the 4th quarter. Gilman Hill Asset Management LLC now owns 1,690 shares of the real estate investment trust’s stock valued at $220,000 after acquiring an additional 80 shares during the last quarter. Brown Advisory Inc. grew its holdings in shares of Extra Space Storage by 1.8% in the second quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock valued at $653,000 after purchasing an additional 80 shares during the period. Finally, Manchester Capital Management LLC grew its holdings in shares of Extra Space Storage by 18.9% in the fourth quarter. Manchester Capital Management LLC now owns 540 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 86 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EXR. JPMorgan Chase & Co. lifted their target price on shares of Extra Space Storage from $142.00 to $144.00 and gave the stock a “neutral” rating in a research note on Monday, March 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Extra Space Storage in a report on Tuesday, April 21st. UBS Group lifted their price target on shares of Extra Space Storage from $158.00 to $163.00 and gave the company a “buy” rating in a research report on Friday. Barclays upped their price objective on Extra Space Storage from $170.00 to $172.00 and gave the company an “overweight” rating in a report on Friday. Finally, Bank of America raised Extra Space Storage from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $147.00 to $156.00 in a research note on Tuesday, June 16th. Five equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Extra Space Storage currently has an average rating of “Hold” and an average price target of $153.57.

Insider Activity

In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $150.00, for a total transaction of $495,000.00. Following the transaction, the executive vice president owned 37,374 shares of the company’s stock, valued at approximately $5,606,100. This represents a 8.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.96% of the company’s stock.

Extra Space Storage Trading Up 0.9%

Shares of Extra Space Storage stock traded up $1.24 on Friday, reaching $143.92. The company had a trading volume of 876,920 shares, compared to its average volume of 1,094,788. The firm’s 50 day moving average price is $144.90 and its two-hundred day moving average price is $141.55. The firm has a market cap of $30.40 billion, a PE ratio of 32.27, a PEG ratio of 4.46 and a beta of 1.19. Extra Space Storage Inc has a 52-week low of $125.71 and a 52-week high of $155.19. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37.

Extra Space Storage (NYSE:EXR) last announced its 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 firm had revenue of $856.03 million during the quarter, compared to analysts’ expectations of $851.35 million. During the same period in the previous year, the firm earned $2.00 EPS. The firm’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. Sell-side analysts predict that Extra Space Storage Inc will post 8.26 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

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

About Extra Space Storage

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.