Securian Asset Management Inc. boosted its stake in shares of Extra Space Storage Inc. (NYSE:EXR – Free Report) by 1.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,201 shares of the real estate investment trust’s stock after buying an additional 124 shares during the quarter. Securian Asset Management Inc.’s holdings in Extra Space Storage were worth $1,825,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Private Trust Co. NA raised its stake in shares of Extra Space Storage by 12.9% during the first quarter. Private Trust Co. NA now owns 612 shares of the real estate investment trust’s stock valued at $100,000 after acquiring an additional 70 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Extra Space Storage by 5.6% in the 1st quarter. Private Advisor Group LLC now owns 1,404 shares of the real estate investment trust’s stock worth $289,000 after buying an additional 74 shares during the period. Texas Permanent School Fund grew its position in shares of Extra Space Storage by 0.4% during the 4th quarter. Texas Permanent School Fund now owns 19,028 shares of the real estate investment trust’s stock worth $2,801,000 after buying an additional 80 shares in the last quarter. Moody National Bank Trust Division increased its stake in shares of Extra Space Storage by 6.3% during the fourth quarter. Moody National Bank Trust Division now owns 1,380 shares of the real estate investment trust’s stock valued at $203,000 after buying an additional 82 shares during the period. Finally, Caprock Group LLC raised its holdings in shares of Extra Space Storage by 5.7% in the first quarter. Caprock Group LLC now owns 1,510 shares of the real estate investment trust’s stock valued at $246,000 after acquiring an additional 82 shares in the last quarter. 96.81% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts have commented on EXR shares. KeyCorp cut their target price on shares of Extra Space Storage from $190.00 to $172.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 5th. StockNews.com began coverage on Extra Space Storage in a report on Thursday, May 18th. They set a “hold” rating for the company. Raymond James upgraded Extra Space Storage from an “outperform” rating to a “strong-buy” rating and set a $185.00 price target on the stock in a report on Tuesday, April 4th. Truist Financial decreased their price objective on Extra Space Storage from $165.00 to $155.00 in a research note on Thursday, June 15th. Finally, Bank of America began coverage on Extra Space Storage in a research note on Monday, May 8th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and a consensus target price of $169.38.
Extra Space Storage Trading Up 0.8 %
Extra Space Storage Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 19th. Investors of record on Thursday, July 13th will be given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Wednesday, July 12th. Extra Space Storage’s payout ratio is currently 63.52%.
About Extra Space Storage
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 March 31, 2023, the Company owned and/or operated 2,388 self-storage stores in 41 states and Washington, DC The Company's stores comprise approximately 1.7 million units and approximately 180.0 million square feet of rentable space.
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