First Republic Investment Management Inc. Raises Holdings in Extra Space Storage Inc. (NYSE:EXR)

First Republic Investment Management Inc. boosted its stake in shares of Extra Space Storage Inc. (NYSE:EXRGet Rating) by 101.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 407,383 shares of the real estate investment trust’s stock after acquiring an additional 205,632 shares during the quarter. First Republic Investment Management Inc. owned 0.30% of Extra Space Storage worth $70,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Pacer Advisors Inc. boosted its holdings in Extra Space Storage by 28.0% during the 3rd quarter. Pacer Advisors Inc. now owns 274 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 60 shares during the period. Ronald Blue Trust Inc. lifted its holdings in Extra Space Storage by 35.9% in the 3rd quarter. Ronald Blue Trust Inc. now owns 231 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 61 shares during the period. Parkside Financial Bank & Trust lifted 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 buying an additional 64 shares during the period. Greenleaf Trust lifted its holdings in Extra Space Storage by 4.4% in the 2nd quarter. Greenleaf Trust now owns 1,580 shares of the real estate investment trust’s stock worth $269,000 after buying an additional 66 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in Extra Space Storage by 2.3% in the 2nd quarter. Exchange Traded Concepts LLC now owns 2,989 shares of the real estate investment trust’s stock worth $508,000 after buying an additional 68 shares during the period. 95.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Morgan Stanley dropped their price objective on Extra Space Storage from $153.00 to $145.00 and set an “underweight” rating for the company in a report on Wednesday, December 14th. KeyCorp dropped their price objective 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. Citigroup dropped their price objective on Extra Space Storage from $175.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, December 12th. StockNews.com initiated coverage on Extra Space Storage in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Evercore ISI lowered Extra Space Storage from an “in-line” rating to an “underperform” rating and decreased their target price for the stock from $162.00 to $150.00 in a research report on Monday, November 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $170.33.

Extra Space Storage Price Performance

NYSE EXR opened at $150.91 on Monday. The company has a market capitalization of $20.21 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 2.07 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. The business’s fifty day moving average is $152.19 and its 200 day moving average is $171.73. Extra Space Storage Inc. has a fifty-two week low of $139.97 and a fifty-two week high of $222.35.

Extra Space Storage Dividend Announcement

The business also recently announced 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 was Tuesday, December 13th. This represents a $6.00 annualized dividend and a yield of 3.98%. Extra Space Storage’s dividend payout ratio (DPR) is presently 87.08%.

Extra Space Storage Company Profile

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Extra Space Storage, Inc is a real estate investment trust. It operates through the following segments: Self-Storage Operations and Tenant Reinsurance. The Self-Storage Operations segment includes rental operations of wholly-owned stores. The Tenant Reinsurance segment includes reinsurance of risks relating to the loss of goods stored by tenants in stores.

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

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