JPMorgan Chase & Co. Has $84.55 Million Stock Position in Extra Space Storage Inc. (NYSE:EXR)

JPMorgan Chase & Co. reduced its stake in shares of Extra Space Storage Inc. (NYSE:EXRGet Rating) by 30.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 497,024 shares of the real estate investment trust’s stock after selling 214,885 shares during the period. JPMorgan Chase & Co.’s holdings in Extra Space Storage were worth $84,554,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Extra Space Storage during the 2nd quarter worth approximately $29,000. Whittier Trust Co. grew its stake in shares of Extra Space Storage by 168.4% during the 2nd quarter. Whittier Trust Co. now owns 255 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 160 shares in the last quarter. Sugarloaf Wealth Management LLC bought a new position in shares of Extra Space Storage during the 2nd quarter worth approximately $44,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Extra Space Storage during the 1st quarter worth approximately $55,000. Finally, Venture Visionary Partners LLC bought a new position in shares of Extra Space Storage during the 2nd quarter worth approximately $46,000. 95.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Morgan Stanley decreased their price target on shares of Extra Space Storage from $156.00 to $153.00 and set an “underweight” rating for the company in a research note on Thursday, October 13th. Truist Financial raised their price target on shares of Extra Space Storage from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 15th. StockNews.com started coverage on shares of Extra Space Storage in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Evercore ISI cut shares of Extra Space Storage from an “in-line” rating to an “underperform” rating and decreased their target price for the company from $162.00 to $150.00 in a research note on Monday. Finally, KeyCorp raised their target price on shares of Extra Space Storage from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, August 17th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $197.89.

Extra Space Storage Trading Down 0.2 %

Shares of Extra Space Storage stock opened at $156.49 on Thursday. The business has a fifty day simple moving average of $167.01 and a two-hundred day simple moving average of $177.69. Extra Space Storage Inc. has a 1 year low of $149.78 and a 1 year high of $228.84. The company has a market capitalization of $20.96 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 2.23 and a beta of 0.52. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.49 and a quick ratio of 0.49.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Wednesday, December 14th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 3.83%. The ex-dividend date is Tuesday, December 13th. Extra Space Storage’s dividend payout ratio is 87.08%.

Extra Space Storage Company 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.

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

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