Janney Montgomery Scott LLC Raises Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Janney Montgomery Scott LLC boosted its stake in Extra Space Storage Inc. (NYSE:EXRGet Rating) by 14.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,615 shares of the real estate investment trust’s stock after buying an additional 572 shares during the period. Janney Montgomery Scott LLC’s holdings in Extra Space Storage were worth $798,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Zimmer Partners LP increased its stake in Extra Space Storage by 1,875.0% during the second quarter. Zimmer Partners LP now owns 987,500 shares of the real estate investment trust’s stock worth $167,994,000 after purchasing an additional 937,500 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Extra Space Storage by 16.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,637,995 shares of the real estate investment trust’s stock worth $618,895,000 after purchasing an additional 501,723 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Extra Space Storage by 104.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 779,098 shares of the real estate investment trust’s stock worth $132,540,000 after purchasing an additional 398,729 shares during the period. Principal Financial Group Inc. increased its stake in Extra Space Storage by 8.0% during the second quarter. Principal Financial Group Inc. now owns 5,145,316 shares of the real estate investment trust’s stock worth $875,324,000 after purchasing an additional 381,282 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Extra Space Storage by 79.3% during the second quarter. Goldman Sachs Group Inc. now owns 850,517 shares of the real estate investment trust’s stock worth $144,690,000 after purchasing an additional 376,279 shares during the period. 95.32% of the stock is currently owned by hedge funds and other institutional investors.

Extra Space Storage Stock Performance

Shares of EXR opened at $150.00 on Friday. The stock has a 50 day moving average price of $152.34 and a 200 day moving average price of $171.91. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.72. The company has a market capitalization of $20.09 billion, a price-to-earnings ratio of 21.77, a price-to-earnings-growth ratio of 2.09 and a beta of 0.51. Extra Space Storage Inc. has a 52-week low of $139.97 and a 52-week high of $222.35.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Wednesday, December 14th were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend was Tuesday, December 13th. Extra Space Storage’s dividend payout ratio (DPR) is 87.08%.

Analyst Ratings Changes

A number of analysts have issued reports on EXR shares. JPMorgan Chase & Co. lowered shares of Extra Space Storage from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $177.00 to $167.00 in a research note on Friday, December 16th. Citigroup cut their target price on shares of Extra Space Storage from $175.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, December 12th. KeyCorp cut their target price on shares of Extra Space Storage from $220.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 30th. Wolfe Research lowered shares of Extra Space Storage from an “outperform” rating to a “peer perform” rating in a research note on Wednesday. They noted that the move was a valuation call. Finally, Evercore ISI lowered shares of Extra Space Storage from an “in-line” rating to an “underperform” rating and cut their target price for the stock from $162.00 to $150.00 in a research note on Monday, November 21st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $170.33.

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.

Further Reading

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

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