CoreCap Advisors LLC Sells 128 Shares of Extra Space Storage Inc. (NYSE:EXR)

CoreCap Advisors LLC decreased its position in Extra Space Storage Inc. (NYSE:EXRGet Rating) by 9.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,184 shares of the real estate investment trust’s stock after selling 128 shares during the quarter. CoreCap Advisors LLC’s holdings in Extra Space Storage were worth $202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Extra Space Storage by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 22,322,540 shares of the real estate investment trust’s stock worth $4,589,514,000 after buying an additional 388,156 shares during the last quarter. State Street Corp lifted its position in Extra Space Storage by 7.2% in the 1st quarter. State Street Corp now owns 9,119,086 shares of the real estate investment trust’s stock worth $1,874,884,000 after buying an additional 612,842 shares during the last quarter. Cohen & Steers Inc. lifted its position in Extra Space Storage by 3.9% in the 1st quarter. Cohen & Steers Inc. now owns 6,023,042 shares of the real estate investment trust’s stock worth $1,238,485,000 after buying an additional 227,391 shares during the last quarter. Principal Financial Group Inc. increased its stake in Extra Space Storage by 8.0% in the 2nd quarter. Principal Financial Group Inc. now owns 5,145,316 shares of the real estate investment trust’s stock worth $875,324,000 after purchasing an additional 381,282 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Extra Space Storage by 6.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,136,272 shares of the real estate investment trust’s stock worth $644,818,000 after purchasing an additional 179,873 shares during the period. Institutional investors own 95.10% of the company’s stock.

Analyst Ratings Changes

EXR has been the topic of a number of analyst reports. Citigroup lifted their price target on Extra Space Storage to $229.00 in a research note on Monday, August 22nd. StockNews.com initiated coverage on Extra Space Storage in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Evercore ISI cut Extra Space Storage from an “in-line” rating to an “underperform” rating and decreased their price target for the stock from $162.00 to $150.00 in a research note on Monday. Truist Financial lifted their price target on Extra Space Storage from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 15th. Finally, KeyCorp lifted their price target on Extra Space Storage from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 17th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $197.89.

Extra Space Storage Price Performance

EXR opened at $156.74 on Wednesday. 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 Inc. has a 52-week low of $149.78 and a 52-week high of $228.84. The stock has a market capitalization of $20.99 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 2.23 and a beta of 0.52. The stock’s 50 day moving average price is $167.71 and its 200-day moving average price is $177.84.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Wednesday, December 14th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $6.00 annualized dividend and a yield of 3.83%. Extra Space Storage’s payout ratio is 87.08%.

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.

Further Reading

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

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