Oversea Chinese Banking CORP Ltd Acquires New Position in Extra Space Storage Inc. (NYSE:EXR)

Oversea Chinese Banking CORP Ltd purchased a new position in shares of Extra Space Storage Inc. (NYSE:EXR - Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 17,549 shares of the real estate investment trust's stock, valued at approximately $2,583,000.

A number of other institutional investors also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA raised its position in Extra Space Storage by 0.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,648,605 shares of the real estate investment trust's stock worth $630,149,000 after buying an additional 10,610 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Extra Space Storage by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 3,135,848 shares of the real estate investment trust's stock worth $460,800,000 after purchasing an additional 38,582 shares during the period. Pictet Asset Management SA grew its stake in shares of Extra Space Storage by 7.5% during the 3rd quarter. Pictet Asset Management SA now owns 2,084,840 shares of the real estate investment trust's stock worth $359,005,000 after purchasing an additional 145,688 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Extra Space Storage by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,877,977 shares of the real estate investment trust's stock worth $276,405,000 after purchasing an additional 22,497 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Extra Space Storage by 2.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,312,164 shares of the real estate investment trust's stock worth $269,781,000 after purchasing an additional 31,987 shares during the period. 95.32% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently issued reports on EXR shares. KeyCorp dropped their price target on shares of Extra Space Storage from $190.00 to $172.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 5th. StockNews.com assumed coverage on shares of Extra Space Storage in a research note on Thursday, May 18th. They set a "hold" rating on the stock. Truist Financial lifted their price target on Extra Space Storage from $160.00 to $165.00 and gave the stock a "hold" rating in a report on Wednesday, March 8th. Bank of America assumed coverage on Extra Space Storage in a report on Monday, May 8th. They set a "buy" rating on the stock. Finally, Raymond James upgraded Extra Space Storage from an "outperform" rating to a "strong-buy" rating and set a $185.00 price target on the stock in a report on Tuesday, April 4th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $170.56.

Extra Space Storage stock traded down $1.97 during trading hours on Thursday, hitting $147.53. The stock had a trading volume of 110,595 shares, compared to its average volume of 1,228,305. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.27 and a quick ratio of 0.27. The stock has a market capitalization of $19.92 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 4.91 and a beta of 0.54. Extra Space Storage Inc. has a 1-year low of $139.97 and a 1-year high of $216.52. The stock's fifty day moving average is $152.60 and its two-hundred day moving average is $154.60.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date is Wednesday, June 14th. Extra Space Storage's payout ratio is currently 101.89%.

In other Extra Space Storage news, CEO Joseph D. Margolis sold 5,000 shares of the firm's stock in a transaction dated Tuesday, April 4th. The stock was sold at an average price of $160.07, for a total value of $800,350.00. Following the sale, the chief executive officer now directly owns 15,144 shares of the company's stock, valued at approximately $2,424,100.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.55% of the company's stock.

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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