Merit Financial Group LLC Lowers Stock Holdings in Extra Space Storage Inc $EXR

Merit Financial Group LLC lessened its stake in Extra Space Storage Inc (NYSE:EXR) by 48.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,567 shares of the real estate investment trust’s stock after selling 6,058 shares during the period. Merit Financial Group LLC’s holdings in Extra Space Storage were worth $926,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EXR. Brown Advisory Inc. grew its stake in shares of Extra Space Storage by 1.8% in the 2nd quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock valued at $653,000 after purchasing an additional 80 shares during the last quarter. Versant Capital Management Inc lifted its holdings 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 purchasing an additional 80 shares during the period. Exchange Traded Concepts LLC grew its position in Extra Space Storage by 10.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 983 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 91 shares during the last quarter. CX Institutional increased its stake in Extra Space Storage by 8.7% in the 3rd quarter. CX Institutional now owns 1,193 shares of the real estate investment trust’s stock valued at $168,000 after buying an additional 95 shares during the period. Finally, Fifth Third Bancorp raised its position in Extra Space Storage by 0.9% during the 3rd quarter. Fifth Third Bancorp now owns 11,084 shares of the real estate investment trust’s stock worth $1,562,000 after buying an additional 98 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Price Performance

EXR stock opened at $145.38 on Thursday. The firm has a 50 day moving average of $137.88 and a 200-day moving average of $138.71. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $162.77. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.89. The company has a market cap of $30.86 billion, a price-to-earnings ratio of 32.45, a PEG ratio of 1.78 and a beta of 1.27.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $6.48 annualized dividend and a yield of 4.5%. Extra Space Storage’s payout ratio is currently 144.64%.

Analysts Set New Price Targets

Several analysts have recently commented on EXR shares. Evercore restated a “cautious” rating on shares of Extra Space Storage in a research note on Monday, November 3rd. Morgan Stanley reduced their price objective on shares of Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating for the company in a research report on Friday, December 5th. Bank of America cut Extra Space Storage from a “neutral” rating to an “underperform” rating and set a $143.00 target price on the stock. in a research report on Thursday, February 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Extra Space Storage in a report on Thursday, January 22nd. Finally, Wall Street Zen downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. 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’s stock. Based on data from MarketBeat.com, the company 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.