Thomas White International Ltd. acquired a new stake in Extra Space Storage Inc. (NYSE:EXR – Get Rating) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,400 shares of the real estate investment trust's stock, valued at approximately $242,000.

Other large investors also recently modified their holdings of the company. Parkside Financial Bank & Trust grew its stake in Extra Space Storage by 80.0% during the 3rd quarter. Parkside Financial Bank & Trust now owns 144 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 64 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in shares of Extra Space Storage during the third quarter worth approximately $27,000. Ronald Blue Trust Inc. acquired a new stake in Extra Space Storage in the second quarter valued at $35,000. SJS Investment Consulting Inc. acquired a new position in Extra Space Storage during the 3rd quarter worth $35,000. Finally, Ten Capital Wealth Advisors LLC bought a new stake in shares of Extra Space Storage in the 3rd quarter worth about $36,000. 95.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

EXR has been the subject of a number of research reports. JPMorgan Chase & Co. downgraded Extra Space Storage from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $177.00 to $167.00 in a research note on Friday, December 16th. KeyCorp reduced their price objective on Extra Space Storage from $220.00 to $190.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 30th. Raymond James upgraded shares of Extra Space Storage from a "market perform" rating to an "outperform" rating and set a $170.00 target price for the company in a research note on Monday, January 9th. Morgan Stanley dropped their target price on shares of Extra Space Storage from $153.00 to $145.00 and set an "underweight" rating on the stock in a report on Wednesday, December 14th. Finally, Wolfe Research downgraded shares of Extra Space Storage from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 18th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $170.89.

Insider Buying and Selling at Extra Space Storage

In other news, COO Matthew T. Herrington sold 650 shares of the stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $165.75, for a total value of $107,737.50. Following the completion of the transaction, the chief operating officer now directly owns 6,405 shares in the company, valued at $1,061,628.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Extra Space Storage news, CMO Samrat Sondhi sold 6,290 shares of the company's stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $161.88, for a total value of $1,018,225.20. Following the completion of the sale, the chief marketing officer now directly owns 82,653 shares of the company's stock, valued at approximately $13,379,867.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Matthew T. Herrington sold 650 shares of Extra Space Storage stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $165.75, for a total transaction of $107,737.50. Following the completion of the transaction, the chief operating officer now directly owns 6,405 shares in the company, valued at approximately $1,061,628.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,440 shares of company stock valued at $1,371,963. Company insiders own 1.52% of the company's stock.

Extra Space Storage Stock Performance

EXR opened at $153.55 on Friday. The business's 50 day moving average is $157.12 and its 200-day moving average is $164.79. The stock has a market cap of $20.73 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 2.24 and a beta of 0.54. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.80. Extra Space Storage Inc. has a twelve month low of $139.97 and a twelve month high of $222.35.

Extra Space Storage (NYSE:EXR – Get Rating) last announced its earnings results on Wednesday, February 22nd. The real estate investment trust reported $1.52 earnings per share for the quarter, missing the consensus estimate of $2.08 by ($0.56). Extra Space Storage had a net margin of 45.52% and a return on equity of 22.01%. The business had revenue of $506.70 million for the quarter, compared to the consensus estimate of $433.39 million. During the same period in the previous year, the firm earned $1.91 EPS. The firm's revenue was up 18.4% on a year-over-year basis. On average, analysts predict that Extra Space Storage Inc. will post 8.56 earnings per share for the current year.

Extra Space Storage Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date is Tuesday, March 14th. This is a positive change from Extra Space Storage's previous quarterly dividend of $1.50. Extra Space Storage's dividend payout ratio is currently 93.60%.

Extra Space Storage Company Profile

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Extra Space Storage, Inc is a real estate investment trust. It operates through the following segments: Self-Storage Operations and Tenant Reinsurance. The Self-Storage Operations segment includes rental operations of wholly-owned stores. The Tenant Reinsurance segment includes reinsurance of risks relating to the loss of goods stored by tenants in stores.

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