JPMorgan Chase & Co. Lowers Stake in Extra Space Storage Inc $EXR

JPMorgan Chase & Co. reduced its position in Extra Space Storage Inc (NYSE:EXR) by 14.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,866,863 shares of the real estate investment trust’s stock after selling 646,932 shares during the quarter. JPMorgan Chase & Co.’s holdings in Extra Space Storage were worth $544,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of EXR. NewEdge Advisors LLC increased its stake in Extra Space Storage by 9.3% in the 1st quarter. NewEdge Advisors LLC now owns 3,409 shares of the real estate investment trust’s stock worth $506,000 after buying an additional 291 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Extra Space Storage by 15.5% in the first quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust’s stock worth $729,000 after acquiring an additional 661 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Extra Space Storage during the second quarter worth about $457,000. Nordea Investment Management AB raised its stake in Extra Space Storage by 5.6% during the 2nd quarter. Nordea Investment Management AB now owns 17,578 shares of the real estate investment trust’s stock valued at $2,562,000 after purchasing an additional 938 shares during the period. Finally, Chicago Partners Investment Group LLC purchased a new position in Extra Space Storage in the 2nd quarter worth approximately $516,000. 99.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on EXR shares. Wall Street Zen lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Bank of America lowered shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and set a $143.00 target price for the company. in a research 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 research note on Tuesday, January 13th. Evercore reiterated a “cautious” rating on shares of Extra Space Storage in a research note on Monday, November 3rd. Finally, Morgan Stanley dropped 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 report on Friday, December 5th. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $144.67.

Extra Space Storage Price Performance

EXR stock opened at $145.38 on Thursday. The company has a fifty day simple moving average of $137.88 and a two-hundred day simple moving average of $138.71. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $162.77. 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 firm has a market capitalization of $30.86 billion, a P/E ratio of 32.45, a price-to-earnings-growth ratio of 1.78 and a beta of 1.27.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be given a $1.62 dividend. The ex-dividend date is Monday, March 16th. This represents a $6.48 annualized dividend and a yield of 4.5%. Extra Space Storage’s dividend payout ratio (DPR) 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.