Crossmark Global Holdings Inc. Cuts Holdings in Extra Space Storage Inc. (NYSE:EXR)

Crossmark Global Holdings Inc. decreased its position in shares of Extra Space Storage Inc. (NYSE:EXRGet Rating) by 8.8% in the third quarter, HoldingsChannel reports. The firm owned 11,846 shares of the real estate investment trust’s stock after selling 1,140 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Extra Space Storage were worth $2,046,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in EXR. CRA Financial Services LLC lifted its stake in shares of Extra Space Storage by 15.4% in the 2nd quarter. CRA Financial Services LLC now owns 1,500 shares of the real estate investment trust’s stock valued at $255,000 after purchasing an additional 200 shares during the last quarter. EdgeRock Capital LLC bought a new stake in Extra Space Storage during the third quarter valued at about $27,000. Veriti Management LLC bought a new stake in Extra Space Storage during the third quarter valued at about $209,000. Vanguard Personalized Indexing Management LLC boosted its position in Extra Space Storage by 16.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,124 shares of the real estate investment trust’s stock valued at $872,000 after purchasing an additional 725 shares in the last quarter. Finally, Point72 Hong Kong Ltd raised its stake in Extra Space Storage by 119.8% in the second quarter. Point72 Hong Kong Ltd now owns 23,843 shares of the real estate investment trust’s stock valued at $4,056,000 after buying an additional 12,997 shares during the last quarter. Hedge funds and other institutional investors own 95.32% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on EXR shares. KeyCorp decreased their price target on Extra Space Storage from $220.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, November 30th. Truist Financial cut Extra Space Storage from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $175.00 to $160.00 in a research note on Tuesday. Morgan Stanley reduced their price objective on Extra Space Storage from $153.00 to $145.00 and set an “underweight” rating for the company in a research note on Wednesday, December 14th. StockNews.com started coverage on Extra Space Storage in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Evercore ISI cut Extra Space Storage from an “in-line” rating to an “underperform” rating and reduced their price objective for the stock from $162.00 to $150.00 in a research note on Monday, November 21st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $170.33.

Extra Space Storage Stock Performance

Shares of NYSE EXR opened at $150.82 on Thursday. The company’s fifty day moving average price is $152.60 and its 200 day moving average price is $172.07. Extra Space Storage Inc. has a 1 year low of $139.97 and a 1 year high of $222.35. The company has a market capitalization of $20.20 billion, a PE ratio of 21.89, a price-to-earnings-growth ratio of 2.09 and a beta of 0.51. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.49 and a current ratio of 0.49.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Wednesday, December 14th were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend was Tuesday, December 13th. Extra Space Storage’s dividend payout ratio (DPR) is presently 87.08%.

Extra Space Storage 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.

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

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