Sumitomo Mitsui Trust Group Inc. Has $120.65 Million Position in Extra Space Storage Inc. (NYSE:EXR)

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 1.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 806,509 shares of the real estate investment trust's stock after purchasing an additional 8,090 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.38% of Extra Space Storage worth $120,654,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in EXR. State Street Corp raised its stake in shares of Extra Space Storage by 1.7% in the third quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust's stock worth $2,412,894,000 after acquiring an additional 227,006 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Extra Space Storage by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,366,107 shares of the real estate investment trust's stock worth $426,349,000 after acquiring an additional 111,137 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Extra Space Storage by 10.4% in the third quarter. Daiwa Securities Group Inc. now owns 2,020,459 shares of the real estate investment trust's stock worth $364,066,000 after acquiring an additional 189,949 shares during the last quarter. Pathway Financial Advisers LLC raised its stake in shares of Extra Space Storage by 17,832.9% in the third quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust's stock worth $363,783,000 after acquiring an additional 2,007,626 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Extra Space Storage by 724.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust's stock worth $357,100,000 after acquiring an additional 1,741,320 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Stock Down 1.7 %

Shares of Extra Space Storage stock traded down $2.66 on Wednesday, hitting $154.84. The company had a trading volume of 764,271 shares, compared to its average volume of 1,259,785. The firm has a market capitalization of $32.82 billion, a P/E ratio of 40.53, a P/E/G ratio of 7.77 and a beta of 0.91. Extra Space Storage Inc. has a twelve month low of $131.02 and a twelve month high of $184.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a 50-day moving average of $152.64 and a 200-day moving average of $164.12.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend was Monday, December 16th. Extra Space Storage's dividend payout ratio (DPR) is presently 169.63%.

Insider Activity

In other news, Director Diane Olmstead sold 3,081 shares of the business's 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 sale, the director now owns 5,877 shares of the company's stock, valued at $967,119.12. The trade was a 34.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the completion of the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company's stock.

Wall Street Analysts Forecast Growth

EXR has been the subject of several analyst reports. Truist Financial lifted their price target on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a "hold" rating in a research report on Thursday, December 5th. Barclays lowered their price target on shares of Extra Space Storage from $192.00 to $184.00 and set an "overweight" rating for the company in a research report on Monday, January 13th. Wells Fargo & Company reiterated an "equal weight" rating and set a $175.00 price target on shares of Extra Space Storage in a research report on Monday, October 21st. Scotiabank upgraded shares of Extra Space Storage from a "sector underperform" rating to a "sector perform" rating and set a $167.00 price target for the company in a research report on Friday, January 10th. Finally, StockNews.com upgraded shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Extra Space Storage has a consensus rating of "Hold" and a consensus target price of $174.00.

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.