Merit Financial Group LLC Cuts Holdings in Extra Space Storage Inc $EXR

Merit Financial Group LLC lessened its stake in Extra Space Storage Inc (NYSE:EXR) by 48.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,567 shares of the real estate investment trust’s stock after selling 6,058 shares during the quarter. Merit Financial Group LLC’s holdings in Extra Space Storage were worth $926,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. NewEdge Advisors LLC lifted its stake in Extra Space Storage by 9.3% in the first quarter. NewEdge Advisors LLC now owns 3,409 shares of the real estate investment trust’s stock worth $506,000 after acquiring an additional 291 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Extra Space Storage by 15.5% in the 1st quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust’s stock valued at $729,000 after purchasing an additional 661 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Extra Space Storage during the 2nd quarter worth $457,000. Nordea Investment Management AB grew its stake in shares of Extra Space Storage by 5.6% during the second quarter. Nordea Investment Management AB now owns 17,578 shares of the real estate investment trust’s stock worth $2,562,000 after purchasing an additional 938 shares in the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new position in Extra Space Storage in the second quarter valued at $516,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Trading Down 1.7%

NYSE:EXR opened at $145.38 on Thursday. The company has a market capitalization of $30.86 billion, a PE ratio of 32.45, a P/E/G ratio of 1.78 and a beta of 1.27. Extra Space Storage Inc has a 52-week low of $121.03 and a 52-week high of $162.77. The stock’s 50 day moving average price is $137.88 and its 200 day moving average price is $138.71. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.89.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, March 16th. Extra Space Storage’s payout ratio is presently 144.64%.

Analyst Ratings Changes

EXR has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price target on Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating for the company in a report on Friday, December 5th. Wells Fargo & Company cut their target price on Extra Space Storage from $160.00 to $150.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Wall Street Zen downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Mizuho increased their price target on shares of Extra Space Storage from $137.00 to $143.00 and gave the company an “outperform” rating in a research note on Monday, January 12th. Finally, Truist Financial boosted their price objective on shares of Extra Space Storage from $142.00 to $146.00 and gave the stock a “hold” rating in a research report on Tuesday, January 20th. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Extra Space Storage has an average rating of “Hold” and a consensus price target of $144.67.

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.