Diamond Hill Capital Management Inc. Grows Stock Position in Extra Space Storage Inc $EXR

Diamond Hill Capital Management Inc. boosted its position in shares of Extra Space Storage Inc (NYSE:EXR) by 27.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,413,454 shares of the real estate investment trust’s stock after buying an additional 526,163 shares during the quarter. Extra Space Storage accounts for approximately 1.6% of Diamond Hill Capital Management Inc.’s investment portfolio, making the stock its 26th largest position. Diamond Hill Capital Management Inc. owned 1.14% of Extra Space Storage worth $340,152,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. NewEdge Advisors LLC boosted its holdings in Extra Space Storage by 9.3% during the 1st quarter. NewEdge Advisors LLC now owns 3,409 shares of the real estate investment trust’s stock valued at $506,000 after acquiring an additional 291 shares during the period. Empowered Funds LLC increased its stake in Extra Space Storage by 15.5% in the 1st quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust’s stock worth $729,000 after buying an additional 661 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Extra Space Storage during the second quarter valued at approximately $457,000. Janney Montgomery Scott LLC increased its holdings in Extra Space Storage by 6.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 6,360 shares of the real estate investment trust’s stock worth $938,000 after purchasing an additional 408 shares during the period. Finally, Ameritas Advisory Services LLC bought a new stake in Extra Space Storage during the 2nd quarter valued at $75,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analyst Upgrades and Downgrades

EXR has been the topic of a number of recent research reports. UBS Group dropped their price target on Extra Space Storage from $156.00 to $148.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Wall Street Zen downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Wells Fargo & Company dropped their target price on Extra Space Storage from $160.00 to $150.00 and set an “overweight” rating on the stock in a research report on Thursday. Morgan Stanley reduced their target price on shares of Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating for the company in a report on Friday, December 5th. Finally, Bank of America downgraded shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and set a $143.00 price objective on the stock. in a research report on Thursday. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $144.67.

Extra Space Storage Stock Performance

Shares of NYSE EXR opened at $140.02 on Friday. Extra Space Storage Inc has a 12 month low of $121.03 and a 12 month high of $162.77. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.89. The stock has a market cap of $29.72 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 2.71 and a beta of 1.27. The company has a 50 day simple moving average of $135.63 and a two-hundred day simple moving average of $138.86.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.6%. The ex-dividend date was Monday, December 15th. Extra Space Storage’s dividend payout ratio (DPR) is currently 144.64%.

Extra Space Storage Company Profile

Extra Space Storage (NYSE: EXR) is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.