Hartford Investment Management Co. Has $2.24 Million Position in Extra Space Storage Inc. (NYSE:EXR)

Hartford Investment Management Co. lessened its position in Extra Space Storage Inc. (NYSE:EXR – Get Rating) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,975 shares of the real estate investment trust’s stock after selling 145 shares during the period. Hartford Investment Management Co.’s holdings in Extra Space Storage were worth $2,241,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Parkside Financial Bank & Trust increased its holdings in 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 in the last quarter. EdgeRock Capital LLC acquired a new position in Extra Space Storage in the 3rd quarter worth about $27,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Extra Space Storage in the 2nd quarter worth about $29,000. Ronald Blue Trust Inc. acquired a new position in Extra Space Storage in the 2nd quarter worth about $35,000. Finally, SJS Investment Consulting Inc. acquired a new position in Extra Space Storage in the 3rd quarter worth about $35,000. Institutional investors and hedge funds own 95.32% of the company’s stock.

Extra Space Storage Trading Down 1.5 %

NYSE EXR opened at $150.82 on Thursday. The business has a 50 day simple moving average of $152.60 and a 200 day simple moving average of $172.07. Extra Space Storage Inc. has a one year low of $139.97 and a one year high of $222.35. The stock has a market capitalization of $20.20 billion, a P/E ratio of 21.89, a P/E/G ratio of 2.09 and a beta of 0.51. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.49 and a quick ratio of 0.49.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Wednesday, December 14th were paid a $1.50 dividend. 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 3.98%. Extra Space Storage’s dividend payout ratio (DPR) is presently 87.08%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. KeyCorp lowered their target price on Extra Space Storage from $220.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, November 30th. Morgan Stanley lowered their price objective on Extra Space Storage from $153.00 to $145.00 and set an “underweight” rating for the company in a research report on Wednesday, December 14th. Raymond James upgraded Extra Space Storage from a “market perform” rating to an “outperform” rating and set a $170.00 price objective for the company in a research report on Monday, January 9th. Truist Financial downgraded Extra Space Storage from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $175.00 to $160.00 in a research report on Tuesday. Finally, Wolfe Research downgraded Extra Space Storage from an “outperform” rating to a “peer perform” rating in a research report on Wednesday. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.