JPMorgan Chase & Co. Trims Stake in Extra Space Storage Inc $EXR

JPMorgan Chase & Co. trimmed its position in shares of Extra Space Storage Inc (NYSE:EXR) by 14.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,866,863 shares of the real estate investment trust’s stock after selling 646,932 shares during the period. JPMorgan Chase & Co. owned about 1.82% of Extra Space Storage worth $544,996,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Avalon Trust Co purchased a new stake in shares of Extra Space Storage in the third quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd bought a new position in Extra Space Storage in the 3rd quarter valued at $28,000. Versant Capital Management Inc increased its stake in Extra Space Storage by 60.2% in the third quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 80 shares during the period. Davis Capital Management bought a new stake in shares of Extra Space Storage during the third quarter worth $35,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Extra Space Storage during the second quarter valued at $37,000. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Price Performance

EXR opened at $145.38 on Thursday. The firm has a market capitalization of $30.86 billion, a PE ratio of 32.45, a price-to-earnings-growth ratio of 1.78 and a beta of 1.27. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.24 and a quick ratio of 0.24. The business’s 50-day moving average is $137.88 and its two-hundred day moving average is $138.71. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $162.77.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Monday, March 16th. Extra Space Storage’s payout ratio is 144.64%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on EXR shares. Bank of America lowered shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and set a $143.00 price objective for the company. in a report on Thursday, February 5th. Evercore reaffirmed a “cautious” rating on shares of Extra Space Storage in a research note on Monday, November 3rd. Wells Fargo & Company lowered their price target on Extra Space Storage from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. Weiss Ratings restated a “hold (c)” rating on shares of Extra Space Storage in a report on Thursday, January 22nd. Finally, Wall Street Zen cut Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $144.67.

Extra Space Storage 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.