Moody National Bank Trust Division acquired a new stake in Extra Space Storage Inc. (NYSE:EXR – Get Rating) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,298 shares of the real estate investment trust's stock, valued at approximately $221,000.

Other large investors have also modified their holdings of the company. NuWave Investment Management LLC acquired a new position in shares of Extra Space Storage in the first quarter valued at $117,000. Fifth Third Bancorp raised its stake in shares of Extra Space Storage by 3.3% in the first quarter. Fifth Third Bancorp now owns 5,156 shares of the real estate investment trust's stock valued at $1,060,000 after purchasing an additional 166 shares in the last quarter. State of Michigan Retirement System raised its stake in shares of Extra Space Storage by 0.3% in the first quarter. State of Michigan Retirement System now owns 33,779 shares of the real estate investment trust's stock valued at $6,945,000 after purchasing an additional 98 shares in the last quarter. Eaton Vance Management raised its stake in shares of Extra Space Storage by 27.7% in the fourth quarter. Eaton Vance Management now owns 14,241 shares of the real estate investment trust's stock valued at $2,745,000 after purchasing an additional 3,088 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. raised its stake in shares of Extra Space Storage by 2.2% in the first quarter. Stock Yards Bank & Trust Co. now owns 74,135 shares of the real estate investment trust's stock valued at $15,242,000 after purchasing an additional 1,574 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EXR. UBS Group dropped their price objective on Extra Space Storage from $234.00 to $197.00 and set a "buy" rating for the company in a research note on Monday, July 25th. Evercore ISI dropped their price objective on Extra Space Storage from $201.00 to $196.00 and set an "in-line" rating for the company in a research note on Monday. Jefferies Financial Group dropped their price objective on Extra Space Storage from $228.00 to $184.00 and set a "hold" rating for the company in a research note on Thursday, June 30th. JPMorgan Chase & Co. upgraded Extra Space Storage from a "neutral" rating to an "overweight" rating and dropped their price objective for the stock from $224.00 to $193.00 in a research note on Wednesday, June 22nd. Finally, Morgan Stanley dropped their price objective on Extra Space Storage from $172.00 to $156.00 and set an "underweight" rating for the company in a research note on Wednesday, May 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $205.91.

Extra Space Storage Price Performance

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Wednesday, September 14th. Extra Space Storage's dividend payout ratio is 90.36%.

Extra Space Storage Profile

(Get Rating)

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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