Sumitomo Mitsui DS Asset Management Company Ltd Has $10.05 Million Stake in Extra Space Storage Inc. (NYSE:EXR)

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 67,196 shares of the real estate investment trust's stock after acquiring an additional 3,290 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Extra Space Storage were worth $10,053,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of EXR. Czech National Bank grew its position in Extra Space Storage by 7.0% in the 3rd quarter. Czech National Bank now owns 43,172 shares of the real estate investment trust's stock worth $7,779,000 after purchasing an additional 2,826 shares during the last quarter. Atomi Financial Group Inc. bought a new position in Extra Space Storage in the 3rd quarter worth approximately $246,000. Wedmont Private Capital increased its position in Extra Space Storage by 17.7% in the 3rd quarter. Wedmont Private Capital now owns 1,951 shares of the real estate investment trust's stock valued at $330,000 after acquiring an additional 294 shares during the period. UMB Bank n.a. raised its stake in Extra Space Storage by 3,636.8% during the 3rd quarter. UMB Bank n.a. now owns 18,684 shares of the real estate investment trust's stock valued at $3,367,000 after acquiring an additional 18,184 shares in the last quarter. Finally, Tobam boosted its position in Extra Space Storage by 15.1% during the 3rd quarter. Tobam now owns 1,031 shares of the real estate investment trust's stock worth $186,000 after acquiring an additional 135 shares during the period. Institutional investors own 99.11% of the company's stock.

Insider Buying and Selling

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the sale, the chief executive officer now owns 16,690 shares in the company, valued at $2,470,286.90. This represents a 31.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Diane Olmstead sold 3,081 shares of Extra Space Storage stock in a transaction on Friday, November 15th. The shares were sold at an average price of $164.56, for a total value of $507,009.36. Following the transaction, the director now owns 5,877 shares in the company, valued at $967,119.12. This represents a 34.39 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on EXR shares. Scotiabank raised Extra Space Storage from a "sector underperform" rating to a "sector perform" rating and set a $167.00 price target on the stock in a report on Friday, January 10th. StockNews.com raised shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Tuesday, January 28th. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $175.00 price target on shares of Extra Space Storage in a research note on Monday, October 21st. Truist Financial increased their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a "hold" rating in a report on Thursday, December 5th. Finally, Evercore ISI dropped their target price on Extra Space Storage from $170.00 to $168.00 and set an "in-line" rating on the stock in a report on Monday, October 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $174.00.

Extra Space Storage Price Performance

Shares of NYSE EXR traded up $0.89 during trading on Tuesday, hitting $157.45. The company had a trading volume of 942,715 shares, compared to its average volume of 1,278,138. The company has a market cap of $33.38 billion, a P/E ratio of 41.22, a PEG ratio of 7.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The business's 50-day moving average is $152.80 and its 200 day moving average is $164.17. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a $1.62 dividend. The ex-dividend date was Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.12%. Extra Space Storage's dividend payout ratio (DPR) is 169.63%.

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.