Cambridge Investment Research Advisors Inc. decreased its position in Extra Space Storage Inc. (NYSE:EXR – Free Report) by 6.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,493 shares of the real estate investment trust’s stock after selling 987 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Extra Space Storage were worth $2,306,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. First Horizon Advisors Inc. raised its position in shares of Extra Space Storage by 1,272.7% in the first quarter. First Horizon Advisors Inc. now owns 151 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 140 shares during the period. Money Concepts Capital Corp bought a new position in Extra Space Storage during the fourth quarter worth $27,000. Massmutual Trust Co. FSB ADV increased its position in Extra Space Storage by 262.0% during the first quarter. Massmutual Trust Co. FSB ADV now owns 181 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 131 shares during the period. CNB Bank bought a new position in Extra Space Storage during the first quarter worth $32,000. Finally, CVA Family Office LLC increased its position in Extra Space Storage by 110.7% during the first quarter. CVA Family Office LLC now owns 295 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 155 shares during the period. Institutional investors own 66.40% of the company’s stock.
Extra Space Storage Trading Up 0.7 %
Shares of Extra Space Storage stock opened at $121.64 on Friday. The stock has a market capitalization of $25.70 billion, a P/E ratio of 19.84, a price-to-earnings-growth ratio of 11.85 and a beta of 0.56. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 1.86. The company has a 50-day simple moving average of $130.03 and a 200 day simple moving average of $144.04. Extra Space Storage Inc. has a 12-month low of $119.90 and a 12-month high of $180.76.
Extra Space Storage Cuts Dividend
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on EXR. Citigroup dropped their target price on shares of Extra Space Storage from $160.00 to $135.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 13th. Truist Financial lowered their price target on shares of Extra Space Storage from $155.00 to $138.00 and set a “hold” rating on the stock in a report on Tuesday, August 29th. The Goldman Sachs Group began coverage on shares of Extra Space Storage in a report on Wednesday. They set a “buy” rating and a $153.00 price objective for the company. Morgan Stanley reduced their price objective on shares of Extra Space Storage from $145.00 to $115.00 and set an “underweight” rating for the company in a report on Thursday, September 21st. Finally, Evercore ISI reduced their price objective on shares of Extra Space Storage from $147.00 to $145.00 and set an “in-line” rating for the company in a report on Friday, September 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Extra Space Storage has an average rating of “Hold” and a consensus price target of $148.75.
View Our Latest Stock Analysis on EXR
Insider Buying and Selling at Extra Space Storage
In other Extra Space Storage news, Director Joseph J. Bonner sold 956 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $125.64, for a total value of $120,111.84. Following the completion of the sale, the director now owns 4,504 shares in the company, valued at approximately $565,882.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.55% of the company’s stock.
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 June 30, 2023, the Company owned and/or operated 2,438 self-storage stores in 41 states and Washington, DC The Company's stores comprise approximately 1.7 million units and approximately 184.0 million square feet of rentable space.
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