Extra Space Storage Inc $EXR Shares Purchased by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. grew its holdings in Extra Space Storage Inc (NYSE:EXR) by 27.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,413,454 shares of the real estate investment trust’s stock after buying an additional 526,163 shares during the quarter. Extra Space Storage makes up 1.6% of Diamond Hill Capital Management Inc.’s holdings, making the stock its 26th biggest holding. Diamond Hill Capital Management Inc.’s holdings in Extra Space Storage were worth $340,152,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EXR. Norges Bank purchased a new position in Extra Space Storage during the second quarter worth approximately $1,058,303,000. Resolution Capital Ltd increased its holdings in shares of Extra Space Storage by 116.2% during the 2nd quarter. Resolution Capital Ltd now owns 1,950,842 shares of the real estate investment trust’s stock worth $287,632,000 after buying an additional 1,048,685 shares during the last quarter. Marshall Wace LLP raised its position in shares of Extra Space Storage by 60.1% during the 2nd quarter. Marshall Wace LLP now owns 1,477,404 shares of the real estate investment trust’s stock valued at $217,828,000 after buying an additional 554,666 shares during the period. JPMorgan Chase & Co. grew its position in Extra Space Storage by 10.2% in the second quarter. JPMorgan Chase & Co. now owns 4,513,795 shares of the real estate investment trust’s stock worth $665,514,000 after acquiring an additional 419,240 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Extra Space Storage by 6.4% in the 3rd quarter. Principal Financial Group Inc. now owns 6,715,901 shares of the real estate investment trust’s stock valued at $946,540,000 after purchasing an additional 406,146 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on EXR shares. Wells Fargo & Company lowered their price target on Extra Space Storage from $160.00 to $150.00 and set an “overweight” rating for the company in a research report on Thursday. Morgan Stanley cut their target price on shares of Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Friday, December 5th. Royal Bank Of Canada lowered their target price on Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating for the company in a research note on Friday, November 7th. Evercore reiterated a “cautious” rating on shares of Extra Space Storage in a research note on Monday, November 3rd. Finally, Wall Street Zen downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Extra Space Storage currently has an average rating of “Hold” and an average target price of $144.67.

Extra Space Storage Stock Performance

NYSE:EXR opened at $140.02 on Friday. The firm’s fifty day simple moving average is $135.63 and its 200 day simple moving average is $138.86. The firm has a market capitalization of $29.72 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 2.71 and a beta of 1.27. 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 Inc has a twelve month low of $121.03 and a twelve month high of $162.77.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were given a $1.62 dividend. The ex-dividend date was Monday, December 15th. This represents a $6.48 annualized dividend and a yield of 4.6%. Extra Space Storage’s dividend payout ratio is 144.64%.

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.