Bailard Inc. reduced its stake in Extra Space Storage Inc. (NYSE:EXR – Get Rating) by 3.2% in the first quarter, the company said in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,813 shares of the real estate investment trust after selling 60 shares during the quarter. Bailard Inc.’s holdings in Extra Space Storage were worth $373,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently changed their holdings in the company. Riverview Trust Co bought a new position in Extra Space Storage worth $32,000 during the first quarter. Huntington National Bank increased its stake in Extra Space Storage by 35.3% in the fourth quarter. Huntington National Bank now owns 203 shares of the $46,000 Real Estate Investment Trust after buying another 53 shares last quarter. TAP Consulting LLC bought a new position in Extra Space Storage stock valued at $51,000 during the fourth quarter. MUFG Americas Holdings Corp increased its stake in Extra Space Storage by 102.2% in the fourth quarter. MUFG Americas Holdings Corp now owns 273 shares of the $62,000 Real Estate Investment Trust after buying another 138 shares last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in Extra Space Storage stock worth $75,000 during the fourth quarter. 95.44% of the shares are currently owned by institutional investors and hedge funds.
EXR has been the subject of a number of recent research reports. StockNews.com lowered shares of Extra Space Storage from a “buy” rating to a “hold” rating in a research note on Wednesday, June 15. Truist Financial lowered its price target for Extra Space Storage from $225.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, June 1st. Evercore ISI set a price target of $198.00 for shares of Extra Space Storage in a research report on Monday, June 20th. KeyCorp lowered its price target on Extra Space Storage shares from $224. Finally, Morgan Stanley lowered its price target on Extra Space Storage shares from $172.00 to $156.00 and downgraded the stock in one on Wednesday, May 25 research report as underweight. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Extra Space Storage currently has a consensus rating of Hold and a consensus price target of $199.56.
EXR opened at $173.09 on Monday. The company has a market cap of $23.24 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 2.73, and a beta of 0.47. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt to equity ratio of 1.55. The company has a 50-day moving average price of $173.23 and a 200-day moving average price of $192.47. Extra Space Storage Inc. has a 12-month low of $156.70 and a 12-month high of $228.84.
Extra Space Storage (NYSE:EXR – Get Rating) last announced its earnings results on Tuesday, May 3rd. The Real Estate Investment Trust reported earnings per share of $1.51 for the quarter, missing the consensus estimate of $1.86 ($0.35). The company posted revenue of $379.81 million for the quarter, compared to analysts’ expectations of $368.88 million. Extra Space Storage had a return on equity of 23.42% and a net margin of 50.76%. Extra Space Storage’s quarterly revenue increased 25.1% year over year. In the same quarter last year, the company earned $1.50 per share. On average, sell-side analysts expect Extra Space Storage Inc. to report earnings per share of 8.26 for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. A dividend of $1.50 was paid to shareholders of record on Wednesday, June 15. The ex-dividend date of this dividend was Tuesday June 14th. This equates to an annualized dividend of $6.00 and a dividend yield of 3.47%. Extra Space Storage’s RTP is 97.40%.
About additional storage space (received rating)
Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-governed and self-administered 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 have approximately 1.4 million units and approximately 147.5 million leasable square feet.
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