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Advisor Group Holdings Inc. buys 9,309 shares of Extra Space Storage Inc. (NYSE:EXR)


Advisor Group Holdings Inc. increased its stake in Extra Space Storage Inc. (NYSE:EXR – Get Rating) by 36.0% in the first quarter, according to the company in its latest 13F filing with the Securities and Exchange Commission. The fund held 35,147 shares of the real estate investment trust after acquiring an additional 9,309 shares during the period. Advisor Group Holdings Inc.’s holdings in Extra Space Storage were worth $7,240,000 when it last filed with the SEC.

A number of other hedge funds and other institutional investors have also recently changed their stock holdings. BlackRock Inc. increased its stake in shares of Extra Space Storage by 0.8% in the 4th quarter. BlackRock Inc. now owns 15,153,217 shares of the real estate investment trust worth $3,435,689,000 after acquiring an additional 122,140 shares in the last quarter. State Street Corp increased its position in Extra Space Storage by 6.8% in the fourth quarter. State Street Corp now owns 8,506,244 shares of the real estate investment trust valued at $1,928,621,000 after buying an additional 541,283 shares in the last quarter. Principal Financial Group Inc. increased its position in Extra Space Storage by 2.6% during the 4th quarter. Principal Financial Group Inc. now owns 4,647,305 shares of the real estate investment trust worth $1,050,072,000 after purchasing an additional 119,144 shares in the last quarter. Geode Capital Management LLC increased its position in Extra Space Storage by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 3,004,095 shares of the real estate investment trust worth $679,643,000 after purchasing an additional 82,323 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Extra Space Storage by 5.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,956,399 shares of the real estate investment trust worth $670,306,000 after purchasing an additional 147,659 shares in the last quarter. Institutional investors hold 95.44% of the company’s shares.

Additional space storage Inventory performance

Extra Space Storage stock opened at $197.22 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.41 and a debt ratio of 1.64. The company has a market capitalization of $26.48 billion, a P/E ratio of 29.70, a PEG ratio of 2.82 and a beta of 0.50. The stock’s 50-day moving average is $173.96 and its 200-day moving average is $187.86. Extra Space Storage Inc. has a 12-month low of $156.70 and a 12-month high of $228.84.

Extra Space Storage (NYSE:EXR – Get Rating) last released its quarterly results on Tuesday, May 3. The real estate investment trust reported earnings per share of $1.51 for the quarter, missing the consensus estimate of $1.86 per ($0.35). The company posted revenue of $379.81 million in the quarter, compared to $368.88 million expected by analysts. Extra Space Storage had a return on equity of 24.31% and a net margin of 51.63%. The company’s quarterly revenue increased 25.1% year over year. In the same quarter of the previous year, the company achieved EPS of $1.50. On average, stock research analysts expect Extra Space Storage Inc. to post earnings per share of 8.4 for the current fiscal year.

Additional Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 30. Shareholders of record on Wednesday, June 15 received a dividend of $1.50 per share. The ex-dividend date was Tuesday, June 14. This represents an annualized dividend of $6.00 and a yield of 3.04%. Extra Space Storage’s dividend payout ratio is 90.36%.

Wall Street analysts predict growth

EXR has been the subject of a number of recent analyst reports. StockNews.com upgraded Extra Space Storage from a “hold” rating to a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. upgraded Extra Space Storage from a “neutral” rating to an “overweight” rating and lowered its price target for the company from $224.00 to $193.00 in a Wednesday research report June 22. KeyCorp reduced its target price on Extra Space Storage from $224.00 to $200.00 and set an “overweight” rating for the company in a Thursday, June 16 research report. Jefferies Financial Group reduced its target price on Extra Space Storage from $228.00 to $184.00 and set a “holding” rating for the company in a Thursday, June 30 research report. Finally, Truist Financial reduced its target price on Extra Space Storage from $225.00 to $200.00 and set a “buy” rating for the company in a Wednesday, June 1 research report. One investment analyst has assigned the stock a sell rating, three have issued a hold rating and eight have assigned the company a buy rating. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $199.30.

Additional space storage profile

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Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and member of the S&P 500. As of September 30, 2020, the Company owned and/or operated 1,906 storage stores self service. 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 leasable space.

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Institutional Ownership by Quarter for Additional Space Storage (NYSE: EXR)



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Mary Cashion

The author Mary Cashion