Tobam Cuts Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Tobam decreased its stake in shares of Extra Space Storage Inc. (NYSE:EXRGet Rating) by 20.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,108 shares of the real estate investment trust’s stock after selling 2,567 shares during the period. Tobam’s holdings in Extra Space Storage were worth $1,746,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Principal Financial Group Inc. boosted its position in shares of Extra Space Storage by 8.0% during the second quarter. Principal Financial Group Inc. now owns 5,145,316 shares of the real estate investment trust’s stock valued at $875,324,000 after buying an additional 381,282 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Extra Space Storage by 16.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,637,995 shares of the real estate investment trust’s stock worth $618,895,000 after acquiring an additional 501,723 shares during the period. FMR LLC lifted its holdings in Extra Space Storage by 4.3% during the second quarter. FMR LLC now owns 2,608,764 shares of the real estate investment trust’s stock worth $443,803,000 after acquiring an additional 107,178 shares during the period. Legal & General Group Plc lifted its holdings in Extra Space Storage by 4.5% during the second quarter. Legal & General Group Plc now owns 1,750,756 shares of the real estate investment trust’s stock worth $297,842,000 after acquiring an additional 75,582 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Extra Space Storage by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,312,164 shares of the real estate investment trust’s stock worth $269,781,000 after acquiring an additional 31,987 shares during the period. Hedge funds and other institutional investors own 95.32% of the company’s stock.

Extra Space Storage Stock Performance

NYSE:EXR opened at $151.90 on Monday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.49 and a current ratio of 0.49. Extra Space Storage Inc. has a 52-week low of $139.97 and a 52-week high of $222.35. The firm has a market cap of $20.34 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 2.09 and a beta of 0.51. The business’s fifty day moving average is $152.63 and its 200 day moving average is $172.49.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Wednesday, December 14th were paid a dividend of $1.50 per share. The ex-dividend date was Tuesday, December 13th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.95%. Extra Space Storage’s payout ratio is 87.08%.

Analysts Set New Price Targets

A number of brokerages recently commented on EXR. JPMorgan Chase & Co. lowered Extra Space Storage from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $177.00 to $167.00 in a report on Friday, December 16th. KeyCorp dropped their price target on Extra Space Storage from $220.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, November 30th. Evercore ISI lowered Extra Space Storage from an “in-line” rating to an “underperform” rating and lowered their target price for the company from $162.00 to $150.00 in a research note on Monday, November 21st. Raymond James upgraded Extra Space Storage from a “market perform” rating to an “outperform” rating and set a $170.00 target price on the stock in a research note on Monday, January 9th. Finally, Morgan Stanley lowered their target price on Extra Space Storage from $153.00 to $145.00 and set an “underweight” rating on the stock in a research note on Wednesday, December 14th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Extra Space Storage currently has an average rating of “Hold” and a consensus target price of $172.00.

Extra Space Storage Company 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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Institutional Ownership by Quarter for Extra Space Storage (NYSE:EXR)

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