Bank of New York Mellon Corp Has $184.70 Million Stock Holdings in Extra Space Storage Inc $EXR

Bank of New York Mellon Corp lessened its holdings in shares of Extra Space Storage Inc (NYSE:EXR) by 4.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,310,510 shares of the real estate investment trust’s stock after selling 54,556 shares during the quarter. Bank of New York Mellon Corp’s holdings in Extra Space Storage were worth $184,703,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. NewEdge Advisors LLC increased its holdings in shares of Extra Space Storage by 9.3% during the 1st quarter. NewEdge Advisors LLC now owns 3,409 shares of the real estate investment trust’s stock worth $506,000 after acquiring an additional 291 shares during the last quarter. Empowered Funds LLC boosted its position in Extra Space Storage by 15.5% during the first quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust’s stock worth $729,000 after purchasing an additional 661 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Extra Space Storage in the second quarter valued at $457,000. Signaturefd LLC raised its position in shares of Extra Space Storage by 42.8% in the second quarter. Signaturefd LLC now owns 1,668 shares of the real estate investment trust’s stock valued at $246,000 after purchasing an additional 500 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in shares of Extra Space Storage by 6.9% in the second quarter. Janney Montgomery Scott LLC now owns 6,360 shares of the real estate investment trust’s stock valued at $938,000 after purchasing an additional 408 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Stock Performance

EXR opened at $137.78 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.24 and a current ratio of 0.24. Extra Space Storage Inc has a 52-week low of $121.03 and a 52-week high of $162.77. The firm has a market cap of $29.24 billion, a P/E ratio of 30.76, a price-to-earnings-growth ratio of 2.68 and a beta of 1.27. The business’s fifty day moving average is $135.02 and its 200-day moving average is $139.27.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.02. The business had revenue of $858.46 million during the quarter, compared to analysts’ expectations of $736.26 million. Extra Space Storage had a net margin of 28.40% and a return on equity of 6.56%. Extra Space Storage’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.07 earnings per share. Sell-side analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were paid a $1.62 dividend. The ex-dividend date was Monday, December 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.7%. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.64%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EXR. Barclays reiterated an “overweight” rating and issued a $164.00 price target on shares of Extra Space Storage in a research note on Tuesday, January 13th. Morgan Stanley decreased their target price on Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating on the stock in a research report on Friday, December 5th. Wall Street Zen lowered Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Evercore ISI reaffirmed a “cautious” rating on shares of Extra Space Storage in a research report on Monday, November 3rd. Finally, UBS Group dropped their price objective on shares of Extra Space Storage from $156.00 to $148.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Six analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $146.53.

Extra Space Storage Profile

Extra Space Storage (NYSE: EXR) is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.