Deutsche Bank AG trimmed its holdings in shares of Extra Space Storage Inc. (NYSE:EXR – Get Rating) by 28.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 344,633 shares of the real estate investment trust’s stock after selling 135,322 shares during the quarter. Deutsche Bank AG owned 0.26% of Extra Space Storage worth $58,630,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Extra Space Storage during the second quarter valued at approximately $29,000. Whittier Trust Co. increased its position in shares of Extra Space Storage by 168.4% during the second quarter. Whittier Trust Co. now owns 255 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 160 shares during the last quarter. Sugarloaf Wealth Management LLC purchased a new stake in shares of Extra Space Storage during the second quarter valued at approximately $44,000. Venture Visionary Partners LLC purchased a new stake in shares of Extra Space Storage during the second quarter valued at approximately $46,000. Finally, Clear Street Markets LLC grew its holdings in Extra Space Storage by 409.1% during the second quarter. Clear Street Markets LLC now owns 280 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 225 shares during the period. 95.10% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages have weighed in on EXR. KeyCorp increased their price objective on Extra Space Storage from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, August 17th. Evercore ISI lowered Extra Space Storage from an “in-line” rating to an “underperform” rating and reduced their price objective for the company from $162.00 to $150.00 in a report on Monday. Morgan Stanley reduced their price objective on Extra Space Storage from $156.00 to $153.00 and set an “underweight” rating for the company in a report on Thursday, October 13th. UBS Group reduced their price objective on Extra Space Storage from $234.00 to $197.00 and set a “buy” rating for the company in a report on Monday, July 25th. Finally, Citigroup increased their price objective on Extra Space Storage to $229.00 in a report on Monday, August 22nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Extra Space Storage has a consensus rating of “Hold” and an average price target of $197.89.
Extra Space Storage Price Performance
Extra Space Storage Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Wednesday, December 14th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.81%. Extra Space Storage’s payout ratio is currently 87.08%.
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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