Envestnet Asset Management Inc. Reduces Stock Holdings in Extra Space Storage Inc $EXR

Envestnet Asset Management Inc. lowered its stake in Extra Space Storage Inc (NYSE:EXR) by 8.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 230,653 shares of the real estate investment trust’s stock after selling 21,397 shares during the period. Envestnet Asset Management Inc.’s holdings in Extra Space Storage were worth $32,508,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in EXR. Vanguard Group Inc. boosted its stake in shares of Extra Space Storage by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 34,269,652 shares of the real estate investment trust’s stock valued at $5,052,717,000 after purchasing an additional 300,167 shares in the last quarter. State Street Corp lifted its holdings in Extra Space Storage by 1.6% in the second quarter. State Street Corp now owns 13,680,181 shares of the real estate investment trust’s stock worth $2,017,006,000 after buying an additional 210,466 shares during the period. Norges Bank purchased a new stake in Extra Space Storage in the second quarter worth about $1,058,303,000. 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 valued at $946,540,000 after acquiring an additional 406,146 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Extra Space Storage by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 5,795,253 shares of the real estate investment trust’s stock worth $851,070,000 after acquiring an additional 100,637 shares during the period. 99.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wall Street Zen cut Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Morgan Stanley decreased their price objective on 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. Royal Bank Of Canada lowered their price objective on Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating for the company in a research report on Friday, November 7th. Evercore reaffirmed a “cautious” rating on shares of Extra Space Storage in a research report on Monday, November 3rd. Finally, Barclays reissued an “overweight” rating and set a $164.00 price target on shares of Extra Space Storage in a research report on Tuesday, January 13th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $144.67.

Extra Space Storage Price Performance

Shares of EXR opened at $142.45 on Thursday. Extra Space Storage Inc has a twelve month low of $121.03 and a twelve month high of $162.77. The company has a market capitalization of $30.24 billion, a P/E ratio of 31.80, a price-to-earnings-growth ratio of 1.70 and a beta of 1.27. The firm has a 50 day moving average of $136.18 and a 200 day moving average of $138.66. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were paid a $1.62 dividend. The ex-dividend date was Monday, December 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.5%. Extra Space Storage’s payout ratio is currently 144.64%.

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.