Extra Space Storage Inc $EXR Position Increased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Extra Space Storage Inc (NYSE:EXR) by 2.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 72,245 shares of the real estate investment trust’s stock after purchasing an additional 1,545 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Extra Space Storage were worth $10,652,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Siemens Fonds Invest GmbH boosted its holdings in shares of 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 valued at $342,000 after acquiring an additional 68 shares during the period. Exchange Traded Concepts LLC raised its holdings in Extra Space Storage by 8.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 934 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 73 shares during the period. Naviter Wealth LLC raised its holdings in Extra Space Storage by 0.6% during the 1st quarter. Naviter Wealth LLC now owns 13,645 shares of the real estate investment trust’s stock worth $2,007,000 after buying an additional 82 shares during the period. Mackenzie Financial Corp increased its holdings in shares of Extra Space Storage by 0.5% in the 4th quarter. Mackenzie Financial Corp now owns 18,363 shares of the real estate investment trust’s stock valued at $2,747,000 after purchasing an additional 90 shares during the period. Finally, Taylor Frigon Capital Management LLC increased its holdings in Extra Space Storage by 0.8% in the first quarter. Taylor Frigon Capital Management LLC now owns 12,248 shares of the real estate investment trust’s stock worth $1,819,000 after buying an additional 93 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wall Street Zen raised Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, September 9th. Wells Fargo & Company upgraded Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 price objective for the company in a research note on Tuesday, August 26th. Evercore ISI raised their target price on Extra Space Storage from $146.00 to $147.00 and gave the company an “in-line” rating in a research note on Monday. Scotiabank decreased their price target on Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 28th. Finally, BNP Paribas Exane began coverage on Extra Space Storage in a report on Tuesday, June 24th. They issued a “neutral” rating and a $156.00 price target on the stock. Six analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $148.50.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer owned 27,260 shares of the company’s stock, valued at $4,098,541. The trade was a 21.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.96% of the stock is owned by company insiders.

Extra Space Storage Trading Down 0.2%

NYSE EXR opened at $142.86 on Friday. The stock’s 50-day moving average is $143.43 and its 200-day moving average is $145.30. Extra Space Storage Inc has a one year low of $121.03 and a one year high of $183.49. The firm has a market cap of $30.32 billion, a P/E ratio of 30.99, a P/E/G ratio of 3.47 and a beta of 1.09. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.29 and a quick ratio of 0.29.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.01). Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The firm had revenue of $841.62 million during the quarter, compared to analyst estimates of $719.43 million. During the same period in the prior year, the business posted $2.06 EPS. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Sell-side analysts anticipate that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Monday, September 15th. Extra Space Storage’s dividend payout ratio (DPR) is currently 140.56%.

Extra Space Storage Company 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.