Aberdeen Group plc Grows Stake in Extra Space Storage Inc $EXR

Aberdeen Group plc increased its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 5.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 243,293 shares of the real estate investment trust’s stock after purchasing an additional 12,943 shares during the period. Aberdeen Group plc owned 0.11% of Extra Space Storage worth $34,414,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Metis Global Partners LLC raised its holdings in shares of Extra Space Storage by 28.4% during the third quarter. Metis Global Partners LLC now owns 54,950 shares of the real estate investment trust’s stock valued at $7,745,000 after acquiring an additional 12,145 shares during the last quarter. Public Sector Pension Investment Board increased its position in shares of Extra Space Storage by 4.9% during the third quarter. Public Sector Pension Investment Board now owns 45,757 shares of the real estate investment trust’s stock worth $6,449,000 after purchasing an additional 2,119 shares in the last quarter. Savvy Advisors Inc. purchased a new position in Extra Space Storage in the 3rd quarter valued at $235,000. Cibc World Market Inc. boosted its stake in 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 worth $26,900,000 after purchasing an additional 30,983 shares during the last quarter. Finally, Caprock Group LLC purchased a new stake in shares of Extra Space Storage during the third quarter worth $203,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $146.34 on Tuesday. The company’s 50 day simple moving average is $137.15 and its 200-day simple moving average is $138.60. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.24 and a current ratio of 0.24. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $162.77. The company has a market capitalization of $31.06 billion, a price-to-earnings ratio of 32.67, a price-to-earnings-growth ratio of 1.76 and a beta of 1.27.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Monday, March 16th. Extra Space Storage’s dividend payout ratio (DPR) is currently 144.64%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on EXR shares. Morgan Stanley decreased their price target 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. Wall Street Zen lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Evercore restated a “cautious” rating on shares of Extra Space Storage in a research report on Monday, November 3rd. Bank of America cut Extra Space Storage from a “neutral” rating to an “underperform” rating and set a $143.00 price target for the company. in a report on Thursday, February 5th. Finally, Barclays reissued an “overweight” rating and set a $164.00 price objective on shares of Extra Space Storage in a research note on Tuesday, January 13th. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $144.67.

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.