Cambridge Investment Research Advisors Inc. reduced its holdings in shares of Extra Space Storage Inc. (NYSE:EXR – Get Rating) by 14.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,313 shares of the real estate investment trust's stock after selling 2,515 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Extra Space Storage were worth $2,435,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Extra Space Storage by 1.8% in the first quarter. Vanguard Group Inc. now owns 22,322,540 shares of the real estate investment trust's stock worth $4,589,514,000 after purchasing an additional 388,156 shares in the last quarter. BlackRock Inc. increased its stake in shares of Extra Space Storage by 0.8% in the fourth quarter. BlackRock Inc. now owns 15,153,217 shares of the real estate investment trust's stock worth $3,435,689,000 after purchasing an additional 122,140 shares in the last quarter. State Street Corp boosted its position in shares of Extra Space Storage by 7.2% during the first quarter. State Street Corp now owns 9,119,086 shares of the real estate investment trust's stock worth $1,874,884,000 after acquiring an additional 612,842 shares during the last quarter. Cohen & Steers Inc. boosted its position in shares of Extra Space Storage by 3.9% during the first quarter. Cohen & Steers Inc. now owns 6,023,042 shares of the real estate investment trust's stock worth $1,238,485,000 after acquiring an additional 227,391 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Extra Space Storage by 2.5% during the first quarter. Principal Financial Group Inc. now owns 4,764,034 shares of the real estate investment trust's stock worth $979,486,000 after acquiring an additional 116,729 shares during the last quarter. 95.10% of the stock is owned by hedge funds and other institutional investors.
Get Extra Space Storage alerts:Wall Street Analysts Forecast Growth
EXR has been the subject of a number of research reports. StockNews.com lowered shares of Extra Space Storage from a "buy" rating to a "hold" rating in a research report on Thursday, August 11th. JPMorgan Chase & Co. upgraded shares of Extra Space Storage from a "neutral" rating to an "overweight" rating and dropped their target price for the stock from $224.00 to $193.00 in a research report on Wednesday, June 22nd. Truist Financial upped their target price on shares of Extra Space Storage from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday, August 15th. UBS Group dropped their target price on shares of Extra Space Storage from $234.00 to $197.00 and set a "buy" rating for the company in a research report on Monday, July 25th. Finally, KeyCorp upped their target price on shares of Extra Space Storage from $200.00 to $220.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Extra Space Storage presently has a consensus rating of "Moderate Buy" and an average price target of $205.18.
Extra Space Storage Trading Down 1.1 %
Shares of EXR opened at $168.83 on Friday. Extra Space Storage Inc. has a twelve month low of $156.70 and a twelve month high of $228.84. The company has a market cap of $22.61 billion, a P/E ratio of 25.43, a P/E/G ratio of 2.27 and a beta of 0.48. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.64. The company's fifty day simple moving average is $194.61 and its 200-day simple moving average is $188.28.Extra Space Storage Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Wednesday, September 14th. Extra Space Storage's dividend payout ratio is currently 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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