PNC Financial Services Group Inc. Lowers Stock Position in Extra Space Storage Inc $EXR

PNC Financial Services Group Inc. reduced its holdings in Extra Space Storage Inc (NYSE:EXR) by 15.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 151,349 shares of the real estate investment trust’s stock after selling 26,671 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Extra Space Storage were worth $21,331,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of EXR. Principal Financial Group Inc. lifted its stake in 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 worth $946,540,000 after acquiring an additional 406,146 shares in the last quarter. Cibc World Market Inc. lifted its position in shares of Extra Space Storage by 19.4% in the third 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 in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Extra Space Storage by 38.2% during the third quarter. Thrivent Financial for Lutherans now owns 589,271 shares of the real estate investment trust’s stock worth $83,052,000 after purchasing an additional 162,773 shares during the period. Oregon Public Employees Retirement Fund increased its stake in 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% during the 3rd quarter. Resona Asset Management Co. Ltd. now owns 127,235 shares of the real estate investment trust’s stock worth $17,982,000 after acquiring an additional 7,831 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Stock Performance

NYSE EXR opened at $147.83 on Wednesday. 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 company has a market capitalization of $31.38 billion, a price-to-earnings ratio of 33.00, a PEG ratio of 1.76 and a beta of 1.27. The stock has a fifty day simple moving average of $137.57 and a 200 day simple moving average of $138.66. 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 firm also recently declared 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 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Monday, March 16th. Extra Space Storage’s payout ratio is 144.64%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Truist Financial raised their price target on shares of Extra Space Storage from $142.00 to $146.00 and gave the stock a “hold” rating in a research note on Tuesday, January 20th. Morgan Stanley reduced their target price on Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating on the stock in a report on Friday, December 5th. Wall Street Zen lowered Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Barclays reissued an “overweight” rating and issued a $164.00 target price on shares of Extra Space Storage in a research note on Tuesday, January 13th. Finally, Royal Bank Of Canada lowered their price target on shares of Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating on the stock in a report on Friday, November 7th. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $144.67.

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.