Extra Space Storage Inc. (NYSE:EXR) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its stake in shares of Extra Space Storage Inc. (NYSE:EXR – Get Rating) by 0.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 126,617 shares of the real estate investment trust’s stock after purchasing an additional 927 shares during the quarter. Envestnet Asset Management Inc. owned about 0.09% of Extra Space Storage worth $26,032,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Menard Financial Group LLC grew its stake in shares of Extra Space Storage by 2.2% during the 1st quarter. Menard Financial Group LLC now owns 2,282 shares of the real estate investment trust’s stock worth $469,000 after purchasing an additional 50 shares during the period. Quadrant Capital Group LLC grew its stake in Extra Space Storage by 8.9% in the 4th quarter. Quadrant Capital Group LLC now owns 649 shares of the real estate investment trust’s stock valued at $147,000 after acquiring an additional 53 shares during the last quarter. FirstPurpose Wealth LLC grew its stake in Extra Space Storage by 0.4% in the 1st quarter. FirstPurpose Wealth LLC now owns 13,746 shares of the real estate investment trust’s stock valued at $2,826,000 after acquiring an additional 61 shares during the last quarter. Kentucky Retirement Systems grew its stake in Extra Space Storage by 0.8% in the 4th quarter. Kentucky Retirement Systems now owns 8,045 shares of the real estate investment trust’s stock valued at $1,824,000 after acquiring an additional 62 shares during the last quarter. Finally, First Affirmative Financial Network grew its stake in Extra Space Storage by 4.5% in the 4th quarter. First Affirmative Financial Network now owns 1,545 shares of the real estate investment trust’s stock valued at $350,000 after acquiring an additional 66 shares during the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Trading Down 0.3 %

Shares of EXR stock opened at $189.01 on Tuesday. The firm has a market cap of $25.38 billion, a P/E ratio of 30.68, a PEG ratio of 2.79 and a beta of 0.50. Extra Space Storage Inc. has a 1-year low of $156.70 and a 1-year high of $228.84. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.53 and a quick ratio of 0.53. The firm’s 50-day simple moving average is $172.53 and its 200-day simple moving average is $187.90.

Extra Space Storage (NYSE:EXR – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.86 by ($0.35). The company had revenue of $379.81 million for the quarter, compared to analysts’ expectations of $368.88 million. Extra Space Storage had a return on equity of 23.42% and a net margin of 50.76%. The company’s revenue was up 25.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.50 earnings per share. As a group, equities analysts forecast that Extra Space Storage Inc. will post 8.27 EPS for the current year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th were issued a dividend of $1.50 per share. The ex-dividend date was Tuesday, June 14th. This represents a $6.00 annualized dividend and a dividend yield of 3.17%. Extra Space Storage’s payout ratio is currently 97.40%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on EXR shares. Jefferies Financial Group lowered their price objective on shares of Extra Space Storage from $228.00 to $184.00 and set a “hold” rating on the stock in a research note on Thursday, June 30th. Evercore ISI set a $198.00 price objective on shares of Extra Space Storage in a research note on Monday, June 20th. KeyCorp lowered their price objective on shares of Extra Space Storage from $224.00 to $200.00 and set an “overweight” rating on the stock in a research note on Thursday, June 16th. UBS Group decreased their price target on shares of Extra Space Storage from $234.00 to $197.00 and set a “buy” rating on the stock in a research note on Monday, July 25th. Finally, JPMorgan Chase & Co. raised shares of Extra Space Storage from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $224.00 to $193.00 in a research note on Wednesday, June 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Extra Space Storage presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.30.

Extra Space Storage Profile

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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 September 30, 2020, the Company owned and/or operated 1,906 self-storage stores in 40 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.4 million units and approximately 147.5 million square feet of rentable space.