Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC cut its position in Extra Space Storage Inc. (NYSE:EXRGet Rating) by 9.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,219 shares of the real estate investment trust’s stock after selling 348 shares during the period. Park Avenue Securities LLC’s holdings in Extra Space Storage were worth $556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. EdgeRock Capital LLC purchased a new stake in shares of Extra Space Storage during the third quarter worth $27,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Extra Space Storage in the 2nd quarter valued at about $29,000. Ronald Blue Trust Inc. acquired a new stake in Extra Space Storage in the 2nd quarter valued at about $35,000. SJS Investment Consulting Inc. acquired a new position in shares of Extra Space Storage during the 3rd quarter worth approximately $35,000. Finally, Whittier Trust Co. grew its position in shares of Extra Space Storage by 168.4% in the second quarter. Whittier Trust Co. now owns 255 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 160 shares in the last quarter. 95.32% of the stock is currently owned by hedge funds and other institutional investors.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $150.91 on Friday. Extra Space Storage Inc. has a one year low of $139.97 and a one year high of $222.35. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.49 and a current ratio of 0.49. The firm’s 50 day moving average price is $152.19 and its 200-day moving average price is $171.75. The firm has a market cap of $20.21 billion, a P/E ratio of 21.90, a P/E/G ratio of 2.09 and a beta of 0.51.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Stockholders 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 dividend yield of 3.98%. Extra Space Storage’s payout ratio is presently 87.08%.

Analysts Set New Price Targets

A number of equities analysts recently commented on EXR shares. JPMorgan Chase & Co. downgraded Extra Space Storage from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $177.00 to $167.00 in a research report on Friday, December 16th. Raymond James raised shares of Extra Space Storage from a “market perform” rating to an “outperform” rating and set a $170.00 price target on the stock in a research report on Monday, January 9th. Truist Financial cut shares of Extra Space Storage from a “buy” rating to a “hold” rating and cut their price objective for the stock from $175.00 to $160.00 in a research report on Tuesday. Evercore ISI downgraded shares of Extra Space Storage from an “in-line” rating to an “underperform” rating and reduced their target price for the stock from $162.00 to $150.00 in a research note on Monday, November 21st. Finally, Morgan Stanley dropped their price target on shares of 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.

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

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