Capital Asset Advisory Services LLC acquired a new stake in shares of Extra Space Storage Inc. (NYSE:EXR) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 901 shares of the real estate investment trust’s stock, valued at approximately $104,000.
Other large investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its stake in shares of Extra Space Storage by 58.9% during the 4th quarter. First Horizon Advisors Inc. now owns 294 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 109 shares during the period. Lindbrook Capital LLC raised its stake in shares of Extra Space Storage by 440.6% during the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 304 shares during the period. TCTC Holdings LLC bought a new stake in shares of Extra Space Storage during the 4th quarter valued at $44,000. HM Payson & Co. bought a new stake in shares of Extra Space Storage during the 3rd quarter valued at $49,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Extra Space Storage during the 4th quarter valued at $51,000. Institutional investors own 96.89% of the company’s stock.
A number of analysts recently issued reports on the company. Morgan Stanley boosted their price objective on Extra Space Storage from $107.00 to $122.00 and gave the company an “underweight” rating in a research note on Thursday, March 18th. JPMorgan Chase & Co. upgraded Extra Space Storage from a “neutral” rating to an “overweight” rating and set a $124.00 target price on the stock in a research note on Monday, December 21st. Zacks Investment Research lowered Extra Space Storage from a “buy” rating to a “hold” rating and set a $118.00 target price on the stock. in a research note on Tuesday, January 12th. Truist upped their target price on Extra Space Storage from $125.00 to $137.00 in a research note on Friday, March 5th. Finally, Raymond James upgraded Extra Space Storage from a “market perform” rating to an “outperform” rating and set a $125.00 target price on the stock in a research note on Thursday, February 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $126.08.
Shares of Extra Space Storage stock opened at $137.60 on Thursday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.91. The firm has a market capitalization of $18.17 billion, a PE ratio of 40.83, a price-to-earnings-growth ratio of 5.80 and a beta of 0.17. The business’s 50-day moving average price is $128.15 and its 200-day moving average price is $117.11. Extra Space Storage Inc. has a 12 month low of $80.86 and a 12 month high of $138.07.
Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Sunday, February 21st. The real estate investment trust reported $1.19 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.16). The firm had revenue of $301.10 million for the quarter, compared to the consensus estimate of $293.09 million. Extra Space Storage had a net margin of 34.54% and a return on equity of 16.54%. Extra Space Storage’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 earnings per share. As a group, analysts predict that Extra Space Storage Inc. will post 5.12 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Monday, March 15th were given a dividend of $1.00 per share. The ex-dividend date was Friday, March 12th. This is a positive change from Extra Space Storage’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 2.91%. Extra Space Storage’s dividend payout ratio is 81.97%.
Extra Space Storage Profile
Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of September 30, 2020, the Company owned and/or operated 1,906 self-storage stores in 40 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.4 million units and approximately 147.5 million square feet of rentable space.
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