Amalgamated Bank lowered its position in shares of Extra Space Storage Inc. (NYSE:EXR – Get Rating) by 5.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,733 shares of the real estate investment trust’s stock after selling 2,011 shares during the quarter. Amalgamated Bank’s holdings in Extra Space Storage were worth $7,347,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Riverview Trust Co purchased a new position in Extra Space Storage during the first quarter valued at $32,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Extra Space Storage during the first quarter valued at $55,000. Brown Brothers Harriman & Co. lifted its position in Extra Space Storage by 4,500.0% during the first quarter. Brown Brothers Harriman & Co. now owns 322 shares of the real estate investment trust’s stock valued at $66,000 after buying an additional 315 shares during the period. Institutional & Family Asset Management LLC lifted its position in Extra Space Storage by 588.5% during the first quarter. Institutional & Family Asset Management LLC now owns 358 shares of the real estate investment trust’s stock valued at $74,000 after buying an additional 306 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in Extra Space Storage by 35.2% during the first quarter. Geneos Wealth Management Inc. now owns 384 shares of the real estate investment trust’s stock valued at $78,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 95.10% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on EXR. JPMorgan Chase & Co. upgraded Extra Space Storage from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $224.00 to $193.00 in a report on Wednesday, June 22nd. Citigroup raised their price target on Extra Space Storage to $229.00 in a report on Monday, August 22nd. KeyCorp raised their price target on Extra Space Storage from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, August 17th. Morgan Stanley reduced their price target on Extra Space Storage from $172.00 to $156.00 and set an “underweight” rating for the company in a report on Wednesday, May 25th. Finally, Evercore ISI set a $198.00 price target on Extra Space Storage in a report on Monday, June 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Extra Space Storage currently has an average rating of “Moderate Buy” and an average target price of $206.09.
Extra Space Storage Price Performance
Extra Space Storage Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a $1.50 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $6.00 annualized dividend and a yield of 3.26%. Extra Space Storage’s payout ratio is 90.36%.
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 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.
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