Rockland Trust Co. Takes Position in Extra Space Storage Inc $EXR

Rockland Trust Co. bought a new position in shares of Extra Space Storage Inc (NYSE:EXR) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 3,912 shares of the real estate investment trust’s stock, valued at approximately $551,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in shares of Extra Space Storage by 60.2% during the third quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 80 shares during the last quarter. Davis Capital Management acquired a new stake in Extra Space Storage in the 3rd quarter worth approximately $35,000. Elevation Point Wealth Partners LLC acquired a new stake in Extra Space Storage in the 2nd quarter worth approximately $37,000. MTM Investment Management LLC purchased a new stake in Extra Space Storage during the 2nd quarter worth approximately $38,000. Finally, Quent Capital LLC acquired a new position in Extra Space Storage during the 3rd quarter valued at approximately $62,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on EXR shares. 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. UBS Group lowered their price target on Extra Space Storage from $156.00 to $148.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Bank of America lowered Extra Space Storage from a “neutral” rating to an “underperform” rating and set a $143.00 price objective on the stock. in a report on Thursday, February 5th. Barclays reaffirmed an “overweight” rating and set a $164.00 target price on shares of Extra Space Storage in a report on Tuesday, January 13th. Finally, Truist Financial increased their price target on shares of Extra Space Storage from $142.00 to $146.00 and gave the stock a “hold” rating in a report on Tuesday, January 20th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $144.67.

Extra Space Storage Stock Up 0.7%

Shares of EXR opened at $141.30 on Wednesday. The company has a market capitalization of $29.99 billion, a price-to-earnings ratio of 31.54, a PEG ratio of 1.69 and a beta of 1.27. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $162.77. The stock’s 50-day moving average price is $135.97 and its 200-day moving average price is $138.63. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.89.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.6%. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.64%.

About Extra Space Storage

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.