Assenagon Asset Management S.A. acquired a new stake in Extra Space Storage Inc. (NYSE:EXR – Get Rating) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,969 shares of the real estate investment trust’s stock, valued at approximately $340,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. EdgeRock Capital LLC bought a new position in shares of Extra Space Storage during the third quarter valued at approximately $27,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Extra Space Storage during the second quarter valued at approximately $29,000. Ronald Blue Trust Inc. bought a new position in shares of Extra Space Storage during the second quarter valued at approximately $35,000. SJS Investment Consulting Inc. bought a new position in shares of Extra Space Storage during the third quarter valued at approximately $35,000. Finally, Whittier Trust Co. grew its holdings in shares of Extra Space Storage by 168.4% during the second quarter. Whittier Trust Co. now owns 255 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 160 shares during the last quarter. 95.32% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on EXR shares. Truist Financial lowered Extra Space Storage from a “buy” rating to a “hold” rating and lowered their target price for the company from $175.00 to $160.00 in a report on Tuesday. Raymond James raised Extra Space Storage from a “market perform” rating to an “outperform” rating and set a $170.00 price objective for the company in a report on Monday, January 9th. JPMorgan Chase & Co. lowered Extra Space Storage from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $177.00 to $167.00 in a report on Friday, December 16th. Evercore ISI lowered Extra Space Storage from an “in-line” rating to an “underperform” rating and decreased their price objective for the stock from $162.00 to $150.00 in a report on Monday, November 21st. Finally, KeyCorp decreased their price objective on Extra Space Storage from $220.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, November 30th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $170.33.
Extra Space Storage Stock Performance
Extra Space Storage Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Wednesday, December 14th were given a $1.50 dividend. The ex-dividend date was Tuesday, December 13th. This represents a $6.00 dividend on an annualized basis and a yield of 3.92%. Extra Space Storage’s dividend payout ratio (DPR) is 87.08%.
Extra Space Storage Profile
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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