Donaldson Capital Management LLC Sells 289,059 Shares of Extra Space Storage Inc $EXR

Donaldson Capital Management LLC cut its holdings in Extra Space Storage Inc (NYSE:EXR) by 95.6% in the third quarter, Holdings Channel reports. The fund owned 13,393 shares of the real estate investment trust’s stock after selling 289,059 shares during the quarter. Donaldson Capital Management LLC’s holdings in Extra Space Storage were worth $1,888,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Extra Space Storage by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 34,269,652 shares of the real estate investment trust’s stock worth $5,052,717,000 after purchasing an additional 300,167 shares during the period. State Street Corp raised its stake in Extra Space Storage by 1.6% in the second quarter. State Street Corp now owns 13,680,181 shares of the real estate investment trust’s stock worth $2,017,006,000 after buying an additional 210,466 shares in the last quarter. Norges Bank purchased a new stake in Extra Space Storage during the second quarter worth $1,058,303,000. Geode Capital Management LLC lifted its holdings in Extra Space Storage by 1.8% during the second quarter. Geode Capital Management LLC now owns 5,795,253 shares of the real estate investment trust’s stock worth $851,070,000 after buying an additional 100,637 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Extra Space Storage by 10.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,513,795 shares of the real estate investment trust’s stock valued at $665,514,000 after acquiring an additional 419,240 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Price Performance

Shares of EXR stock opened at $137.78 on Friday. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $162.77. The firm has a market capitalization of $29.24 billion, a price-to-earnings ratio of 30.76, a PEG ratio of 2.68 and a beta of 1.27. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.24 and a current ratio of 0.24. The stock’s 50-day simple moving average is $135.02 and its 200-day simple moving average is $139.21.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.08 EPS for the quarter, beating the consensus estimate of $2.06 by $0.02. The firm had revenue of $858.46 million during the quarter, compared to analyst estimates of $736.26 million. Extra Space Storage had a net margin of 28.40% and a return on equity of 6.56%. Extra Space Storage’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the firm posted $2.07 EPS. As a group, equities analysts forecast that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a $1.62 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.7%. Extra Space Storage’s dividend payout ratio (DPR) is currently 144.64%.

Wall Street Analyst Weigh In

Several research firms have recently commented on EXR. Evercore ISI reissued a “cautious” rating on shares of Extra Space Storage in a research report on Monday, November 3rd. Truist Financial boosted their target price on shares of Extra Space Storage from $142.00 to $146.00 and gave the stock a “hold” rating in a report on Tuesday, January 20th. Barclays reissued an “overweight” rating and set a $164.00 price target on shares of Extra Space Storage in a research report on Tuesday, January 13th. Royal Bank Of Canada cut their price objective on shares of Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating on the stock in a research report on Friday, November 7th. Finally, Mizuho boosted their price objective on shares of Extra Space Storage from $137.00 to $143.00 and gave the stock an “outperform” rating in a research note on Monday, January 12th. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, Extra Space Storage presently has an average rating of “Hold” and a consensus target price of $146.53.

About Extra Space Storage

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.