Envestnet Asset Management Inc. Sells 21,397 Shares of Extra Space Storage Inc $EXR

Envestnet Asset Management Inc. cut its holdings in shares of Extra Space Storage Inc (NYSE:EXR) by 8.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 230,653 shares of the real estate investment trust’s stock after selling 21,397 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.11% of Extra Space Storage worth $32,508,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of EXR. Norges Bank purchased a new stake in shares of Extra Space Storage during the 2nd quarter valued at approximately $1,058,303,000. Resolution Capital Ltd lifted its position in shares of Extra Space Storage by 116.2% during the second quarter. Resolution Capital Ltd now owns 1,950,842 shares of the real estate investment trust’s stock worth $287,632,000 after acquiring an additional 1,048,685 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Extra Space Storage by 60.1% in the second quarter. Marshall Wace LLP now owns 1,477,404 shares of the real estate investment trust’s stock worth $217,828,000 after acquiring an additional 554,666 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of 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. grew its position 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 valued at $946,540,000 after purchasing an additional 406,146 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on EXR shares. Bank of America downgraded Extra Space Storage from a “neutral” rating to an “underperform” rating and set a $143.00 target price for the company. in a research note on Thursday, February 5th. UBS Group lowered their price target on shares of Extra Space Storage from $156.00 to $148.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Truist Financial boosted their price objective on shares of Extra Space Storage from $142.00 to $146.00 and gave the company a “hold” rating in a research note on Tuesday, January 20th. Royal Bank Of Canada lowered their target price on shares of Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating on the stock in a research note on Friday, November 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Extra Space Storage in a report on Thursday, January 22nd. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Extra Space Storage currently has a consensus rating of “Hold” and an average price target of $144.67.

Extra Space Storage Trading Up 0.7%

Shares of EXR stock opened at $142.45 on Thursday. The business has a 50-day moving average price of $136.18 and a two-hundred day moving average price of $138.66. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $162.77. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.89. The firm has a market cap of $30.24 billion, a P/E ratio of 31.80, a price-to-earnings-growth ratio of 1.70 and a beta of 1.27.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Monday, December 15th. Extra Space Storage’s payout ratio is currently 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.