Hsbc Holdings PLC increased its position in shares of Extra Space Storage Inc (NYSE:EXR – Free Report) by 4.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 872,272 shares of the real estate investment trust’s stock after purchasing an additional 35,957 shares during the quarter. Hsbc Holdings PLC owned 0.41% of Extra Space Storage worth $114,333,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the company. Cohen & Steers Inc. increased its holdings in Extra Space Storage by 13.4% in the 4th quarter. Cohen & Steers Inc. now owns 15,979,424 shares of the real estate investment trust’s stock worth $2,080,971,000 after buying an additional 1,888,763 shares during the period. State Street Corp lifted its stake in Extra Space Storage by 1.7% during the 3rd quarter. State Street Corp now owns 13,910,878 shares of the real estate investment trust’s stock valued at $1,960,599,000 after acquiring an additional 230,697 shares during the period. Norges Bank purchased a new stake in shares of Extra Space Storage in the 4th quarter valued at $1,219,606,000. Capital International Investors increased its stake in shares of Extra Space Storage by 73.9% in the fourth quarter. Capital International Investors now owns 6,256,687 shares of the real estate investment trust’s stock worth $814,746,000 after acquiring an additional 2,658,947 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Extra Space Storage by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 5,945,315 shares of the real estate investment trust’s stock worth $771,397,000 after acquiring an additional 56,118 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.
Extra Space Storage Stock Performance
Shares of NYSE EXR opened at $148.38 on Friday. The company has a market capitalization of $31.35 billion, a PE ratio of 33.27, a price-to-earnings-growth ratio of 4.59 and a beta of 1.19. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. The company’s fifty day moving average price is $145.31 and its 200 day moving average price is $142.13. Extra Space Storage Inc has a 1 year low of $125.71 and a 1 year high of $155.19.
Extra Space Storage Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Monday, June 15th. Extra Space Storage’s payout ratio is currently 145.29%.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on EXR. Mizuho boosted their target price on shares of Extra Space Storage from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Barclays lifted their price objective on Extra Space Storage from $170.00 to $172.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Wall Street Zen raised Extra Space Storage from a “sell” rating to a “hold” rating in a report on Saturday. Raymond James Financial initiated coverage on Extra Space Storage in a research note on Thursday. They issued an “outperform” rating and a $44.00 target price on the stock. Finally, Bank of America raised Extra Space Storage from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $147.00 to $156.00 in a report on Tuesday, June 16th. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $146.27.
Read Our Latest Stock Analysis on Extra Space Storage
Insiders Place Their Bets
In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $150.00, for a total value of $495,000.00. Following the completion of the transaction, the executive vice president owned 37,374 shares of the company’s stock, valued at approximately $5,606,100. This represents a 8.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.96% of the company’s stock.
Extra Space Storage Company Profile
Extra Space Storage (NYSE: EXR) is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.
Its business model combines property ownership with third-party management and development activities.
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