Extra Space Storage Inc $EXR Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in Extra Space Storage Inc (NYSE:EXR) by 14.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,866,863 shares of the real estate investment trust’s stock after selling 646,932 shares during the quarter. JPMorgan Chase & Co.’s holdings in Extra Space Storage were worth $544,996,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Principal Financial Group Inc. increased its stake in shares of Extra Space Storage by 6.4% in the third quarter. Principal Financial Group Inc. now owns 6,715,901 shares of the real estate investment trust’s stock worth $946,540,000 after acquiring an additional 406,146 shares during the period. Cibc World Market Inc. raised its stake in shares of Extra Space Storage by 19.4% during the 3rd quarter. Cibc World Market Inc. now owns 190,863 shares of the real estate investment trust’s stock valued at $26,900,000 after buying an additional 30,983 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Extra Space Storage by 38.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 589,271 shares of the real estate investment trust’s stock valued at $83,052,000 after buying an additional 162,773 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in shares of Extra Space Storage by 32.0% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 24,240 shares of the real estate investment trust’s stock valued at $3,416,000 after buying an additional 5,870 shares during the period. Finally, Resona Asset Management Co. Ltd. boosted its stake in shares of Extra Space Storage by 6.6% in the third quarter. Resona Asset Management Co. Ltd. now owns 127,235 shares of the real estate investment trust’s stock worth $17,982,000 after buying an additional 7,831 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

EXR has been the subject of several recent research reports. Barclays reiterated an “overweight” rating and set a $164.00 price target on shares of Extra Space Storage in a research report on Tuesday, January 13th. Morgan Stanley cut their target price on shares of Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating for the company in a report on Friday, December 5th. Mizuho boosted their target price on shares of Extra Space Storage from $137.00 to $143.00 and gave the company an “outperform” rating in a research note on Monday, January 12th. Wells Fargo & Company dropped their price target on shares of Extra Space Storage from $160.00 to $150.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Extra Space Storage in a research report on Thursday, January 22nd. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Extra Space Storage has an average rating of “Hold” and a consensus price target of $144.67.

Extra Space Storage Price Performance

NYSE:EXR opened at $145.38 on Thursday. The firm has a market cap of $30.86 billion, a P/E ratio of 32.45, a price-to-earnings-growth ratio of 1.78 and a beta of 1.27. The stock has a 50 day moving average of $137.88 and a two-hundred day moving average of $138.71. Extra Space Storage Inc has a 12 month low of $121.03 and a 12 month high of $162.77. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.89.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Monday, March 16th. Extra Space Storage’s payout ratio is 144.64%.

Extra Space Storage Company 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.