Extra Space Storage Inc. (NYSE:EXR) Stake Cut by UBS Group AG

UBS Group AG cut its position in shares of Extra Space Storage Inc. (NYSE:EXRGet Rating) by 48.1% in the second quarter, Holdings Channel reports. The firm owned 177,076 shares of the real estate investment trust’s stock after selling 163,983 shares during the period. UBS Group AG’s holdings in Extra Space Storage were worth $30,124,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EXR. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Extra Space Storage during the 2nd quarter worth about $29,000. Whittier Trust Co. raised its stake in shares of Extra Space Storage by 168.4% in the 2nd quarter. Whittier Trust Co. now owns 255 shares of the real estate investment trust’s stock valued at $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 in the 2nd quarter valued at approximately $44,000. Venture Visionary Partners LLC bought a new position in shares of Extra Space Storage in the 2nd quarter valued at approximately $46,000. Finally, Clear Street Markets LLC raised its stake in shares of Extra Space Storage by 409.1% in the 2nd quarter. Clear Street Markets LLC now owns 280 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 225 shares in the last quarter. 95.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on EXR. KeyCorp raised their price objective on Extra Space Storage from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, August 17th. Citigroup raised their target price on Extra Space Storage to $229.00 in a report on Monday, August 22nd. StockNews.com began coverage on Extra Space Storage in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Morgan Stanley lowered their target price on Extra Space Storage from $156.00 to $153.00 and set an “underweight” rating on the stock in a report on Thursday, October 13th. Finally, Truist Financial raised their target price on Extra Space Storage from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 15th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $197.89.

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $156.49 on Friday. Extra Space Storage Inc. has a 1-year low of $149.78 and a 1-year high of $228.84. The firm has a market capitalization of $20.96 billion, a PE ratio of 22.71, a PEG ratio of 2.22 and a beta of 0.52. The business’s 50 day moving average is $166.40 and its 200-day moving average is $177.54. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.72.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders 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 dividend yield of 3.83%. The ex-dividend date of this dividend is Tuesday, December 13th. Extra Space Storage’s payout ratio is presently 87.08%.

Extra Space Storage Profile

(Get Rating)

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.

Further Reading

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

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