Vanguard Group Inc. Has $4.85 Billion Position in Extra Space Storage Inc $EXR

Vanguard Group Inc. lifted its position in shares of Extra Space Storage Inc (NYSE:EXR) by 0.5% in the third quarter, HoldingsChannel.com reports. The fund owned 34,430,823 shares of the real estate investment trust’s stock after buying an additional 161,171 shares during the period. Vanguard Group Inc. owned about 0.16% of Extra Space Storage worth $4,852,680,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in EXR. Principal Financial Group Inc. boosted its position in Extra Space Storage by 6.4% during 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 buying an additional 406,146 shares during the period. Cibc World Market Inc. lifted its holdings in shares of Extra Space Storage by 19.4% during 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 during the period. Thrivent Financial for Lutherans grew its stake in shares of Extra Space Storage by 38.2% in 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 last quarter. Oregon Public Employees Retirement Fund increased its holdings in Extra Space Storage by 32.0% in the third 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 purchasing an additional 5,870 shares during the period. Finally, Resona Asset Management Co. Ltd. increased its holdings in Extra Space Storage by 6.6% in the third quarter. Resona Asset Management Co. Ltd. now owns 127,235 shares of the real estate investment trust’s stock valued at $17,982,000 after purchasing an additional 7,831 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

EXR has been the topic of a number of analyst reports. Bank of America lowered Extra Space Storage from a “neutral” rating to an “underperform” rating and set a $143.00 price target on the stock. in a research report on Thursday, February 5th. Wall Street Zen cut Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Morgan Stanley lowered their price target on shares of Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating for the company in a report on Friday, December 5th. Wells Fargo & Company dropped their price target on shares of Extra Space Storage from $160.00 to $150.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Finally, UBS Group decreased their price objective on shares of 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. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Extra Space Storage presently has an average rating of “Hold” and a consensus target price of $144.67.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $147.83 on Wednesday. The firm has a 50 day moving average of $137.57 and a 200-day moving average of $138.66. The company has a market cap of $31.38 billion, a price-to-earnings ratio of 33.00, a price-to-earnings-growth ratio of 1.76 and a beta of 1.27. 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 Inc has a 52 week low of $121.03 and a 52 week high of $162.77.

Extra Space Storage Announces Dividend

The business 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 $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Monday, March 16th. Extra Space Storage’s payout ratio is 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.