Aptus Capital Advisors LLC increased its stake in Extra Space Storage Inc. (NYSE:EXR – Get Rating) by 3.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,814 shares of the real estate investment trust’s stock after purchasing an additional 551 shares during the period. Aptus Capital Advisors LLC’s holdings in Extra Space Storage were worth $3,249,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in EXR. Parkside Financial Bank & Trust lifted its holdings in shares of Extra Space Storage by 80.0% in the 3rd quarter. Parkside Financial Bank & Trust now owns 144 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 64 shares during the last quarter. EdgeRock Capital LLC bought a new stake in Extra Space Storage during the 3rd quarter valued at $27,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Extra Space Storage during the 2nd quarter valued at $29,000. Ronald Blue Trust Inc. bought a new stake in Extra Space Storage during the 2nd quarter valued at $35,000. Finally, SJS Investment Consulting Inc. bought a new stake in Extra Space Storage during the 3rd quarter valued at $35,000. Institutional investors own 95.32% of the company’s stock.
Analysts Set New Price Targets
Several analysts have weighed in on EXR shares. Truist Financial downgraded Extra Space Storage from a “buy” rating to a “hold” rating and cut their target price for the company from $175.00 to $160.00 in a research note on Tuesday. KeyCorp dropped their price objective on 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. StockNews.com assumed coverage on Extra Space Storage in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Morgan Stanley dropped their price objective on Extra Space Storage from $153.00 to $145.00 and set an “underweight” rating on the stock in a research note on Wednesday, December 14th. Finally, Raymond James raised Extra Space Storage from a “market perform” rating to an “outperform” rating and set a $170.00 price objective on the stock in a research note on Monday, January 9th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $170.33.
Extra Space Storage Price Performance
Extra Space Storage Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Wednesday, December 14th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Tuesday, December 13th. This represents a $6.00 dividend on an annualized basis and a yield of 3.95%. Extra Space Storage’s payout ratio is 87.08%.
About Extra Space Storage
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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