AlphaQuest LLC Cuts Stock Holdings in Extra Space Storage Inc $EXR

AlphaQuest LLC lessened its stake in Extra Space Storage Inc (NYSE:EXR) by 59.3% in the third quarter, HoldingsChannel reports. The firm owned 6,971 shares of the real estate investment trust’s stock after selling 10,163 shares during the period. AlphaQuest LLC’s holdings in Extra Space Storage were worth $982,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Chung Wu Investment Group LLC purchased a new stake in Extra Space Storage during the 2nd quarter valued at approximately $29,000. Versant Capital Management Inc raised its holdings in Extra Space Storage by 60.2% during the 3rd quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 80 shares during the period. Davis Capital Management purchased a new stake in shares of Extra Space Storage in the third quarter valued at $35,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Extra Space Storage during the second quarter valued at approximately $37,000. Finally, MTM Investment Management LLC purchased a new position in Extra Space Storage during the 2nd quarter valued at $38,000. 99.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Royal Bank Of Canada decreased their price objective on Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating for the company in a report on Friday, November 7th. Evercore ISI reissued a “cautious” rating on shares of Extra Space Storage in a research report on Monday, November 3rd. Morgan Stanley cut their target price on shares of 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Extra Space Storage in a research note on Thursday, January 22nd. Finally, UBS Group cut their price objective on Extra Space Storage from $156.00 to $148.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Six research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $146.53.

Extra Space Storage Stock Down 2.0%

EXR stock opened at $135.27 on Tuesday. Extra Space Storage Inc has a twelve month low of $121.03 and a twelve month high of $162.77. The stock has a market cap of $28.71 billion, a P/E ratio of 30.19, a PEG ratio of 2.66 and a beta of 1.27. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.89. The company’s 50 day moving average is $135.12 and its two-hundred day moving average is $139.06.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Monday, December 15th. Extra Space Storage’s payout ratio is 144.64%.

Extra Space Storage 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.