DnB Asset Management AS Cuts Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

DnB Asset Management AS decreased its holdings in shares of Extra Space Storage Inc. (NYSE:EXRGet Rating) by 19.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 22,231 shares of the real estate investment trust’s stock after selling 5,454 shares during the period. DnB Asset Management AS’s holdings in Extra Space Storage were worth $3,782,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. NuWave Investment Management LLC purchased a new position in Extra Space Storage during the 1st quarter valued at about $117,000. Fifth Third Bancorp increased its position in Extra Space Storage by 3.3% during the 1st quarter. Fifth Third Bancorp now owns 5,156 shares of the real estate investment trust’s stock valued at $1,060,000 after purchasing an additional 166 shares during the period. State of Michigan Retirement System increased its position in Extra Space Storage by 0.3% during the 1st quarter. State of Michigan Retirement System now owns 33,779 shares of the real estate investment trust’s stock valued at $6,945,000 after purchasing an additional 98 shares during the period. Eaton Vance Management grew its position in shares of Extra Space Storage by 27.7% in the 4th quarter. Eaton Vance Management now owns 14,241 shares of the real estate investment trust’s stock worth $2,745,000 after buying an additional 3,088 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. grew its position in shares of Extra Space Storage by 2.2% in the 1st quarter. Stock Yards Bank & Trust Co. now owns 74,135 shares of the real estate investment trust’s stock worth $15,242,000 after buying an additional 1,574 shares during the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

Extra Space Storage Stock Performance

Shares of NYSE EXR opened at $182.31 on Tuesday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.64. Extra Space Storage Inc. has a 12 month low of $156.70 and a 12 month high of $228.84. The company has a 50 day simple moving average of $194.22 and a two-hundred day simple moving average of $189.51. The stock has a market cap of $24.41 billion, a price-to-earnings ratio of 27.46, a PEG ratio of 2.50 and a beta of 0.48.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 3.29%. The ex-dividend date is Wednesday, September 14th. Extra Space Storage’s payout ratio is 90.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EXR. UBS Group cut their price objective on shares of Extra Space Storage from $234.00 to $197.00 and set a “buy” rating on the stock in a research report on Monday, July 25th. Jefferies Financial Group cut 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 report on Thursday, June 30th. Evercore ISI cut their price objective on shares of Extra Space Storage from $201.00 to $196.00 and set an “in-line” rating on the stock in a research report on Monday. Truist Financial lifted their price objective on shares of Extra Space Storage from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, August 15th. Finally, Citigroup lifted their target price on shares of Extra Space Storage to $229.00 in a research note on Monday, August 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.91.

About Extra Space Storage

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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.

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Institutional Ownership by Quarter for Extra Space Storage (NYSE:EXR)

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