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Moody National Bank Trust Division Takes Position in Extra Space Storage Inc. (NYSE:EXR)

Defense World ·  Sep 21, 2022 07:32

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.

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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

Shares of EXR stock opened at $179.08 on Wednesday. The stock's fifty day moving average is $194.47 and its 200-day moving average is $189.44. The stock has a market capitalization of $23.98 billion, a PE ratio of 26.97, a PEG ratio of 2.50 and a beta of 0.48. Extra Space Storage Inc. has a 52 week low of $156.70 and a 52 week high of $228.84. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.41 and a current ratio of 0.41.

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

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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.

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