ING Groep NV lifted its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 2.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,742 shares of the real estate investment trust’s stock after buying an additional 170 shares during the period. ING Groep NV’s holdings in Extra Space Storage were worth $1,159,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the business. Swiss National Bank grew its position in shares of Extra Space Storage by 1.6% in the 1st quarter. Swiss National Bank now owns 726,701 shares of the real estate investment trust’s stock worth $96,324,000 after buying an additional 11,400 shares during the last quarter. Fifth Third Bancorp grew its holdings in Extra Space Storage by 13.6% during the first quarter. Fifth Third Bancorp now owns 11,548 shares of the real estate investment trust’s stock valued at $1,531,000 after purchasing an additional 1,380 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Extra Space Storage by 34.4% in the fourth quarter. Victory Capital Management Inc. now owns 63,899 shares of the real estate investment trust’s stock worth $7,403,000 after acquiring an additional 16,352 shares during the period. Sei Investments Co. boosted its stake in Extra Space Storage by 14.9% during the fourth quarter. Sei Investments Co. now owns 349,844 shares of the real estate investment trust’s stock valued at $40,419,000 after buying an additional 45,348 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in Extra Space Storage by 0.8% during the first quarter. BlackRock Inc. now owns 15,102,258 shares of the real estate investment trust’s stock valued at $2,001,802,000 after buying an additional 123,922 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.
EXR stock opened at $159.16 on Friday. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.49 and a quick ratio of 0.49. The stock’s 50-day moving average is $146.21. Extra Space Storage Inc. has a 52 week low of $88.88 and a 52 week high of $159.96. The company has a market cap of $21.28 billion, a P/E ratio of 36.17, a price-to-earnings-growth ratio of 4.80 and a beta of 0.17.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Tuesday, June 15th will be given a $1.00 dividend. The ex-dividend date of this dividend is Monday, June 14th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.51%. Extra Space Storage’s dividend payout ratio is 75.76%.
Several research analysts recently issued reports on EXR shares. Truist increased their price objective on Extra Space Storage from $137.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, May 17th. They noted that the move was a valuation call. Wells Fargo & Company lifted their price target on Extra Space Storage from $147.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, May 28th. KeyCorp lifted their price objective on Extra Space Storage from $142.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, May 20th. UBS Group initiated coverage on Extra Space Storage in a report on Thursday, June 3rd. They set a “buy” rating and a $168.00 target price on the stock. Finally, Truist Securities lifted their price target on shares of Extra Space Storage from $137.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, May 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $137.00.
In other Extra Space Storage news, Director Spencer Kirk sold 85,000 shares of the company’s stock in a transaction on Thursday, May 6th. The stock was sold at an average price of $146.00, for a total value of $12,410,000.00. Following the completion of the transaction, the director now owns 96,895 shares in the company, valued at approximately $14,146,670. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Matthew T. Herrington sold 860 shares of the stock in a transaction on Thursday, May 6th. The stock was sold at an average price of $146.12, for a total value of $125,663.20. Following the transaction, the chief operating officer now owns 5,219 shares of the company’s stock, valued at approximately $762,600.28. The disclosure for this sale can be found here. Insiders sold 145,941 shares of company stock worth $20,517,645 over the last quarter. 2.20% of the stock is owned by corporate insiders.
Extra Space Storage Profile
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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