Aviva PLC increased its stake in shares of Extra Space Storage, Inc. (NYSE:EXR) by 32.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,473 shares of the real estate investment trust’s stock after buying an additional 35,142 shares during the quarter. Aviva PLC owned 0.11% of Extra Space Storage worth $13,739,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EXR. Signaturefd LLC boosted its holdings in Extra Space Storage by 39.0% during the 4th quarter. Signaturefd LLC now owns 449 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 126 shares during the last quarter. Private Capital Group LLC raised its holdings in shares of Extra Space Storage by 76.0% in the first quarter. Private Capital Group LLC now owns 542 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 234 shares during the last quarter. CSat Investment Advisory L.P. lifted its position in shares of Extra Space Storage by 33.8% during the fourth quarter. CSat Investment Advisory L.P. now owns 519 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 131 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Extra Space Storage by 134.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 645 shares of the real estate investment trust’s stock worth $68,000 after purchasing an additional 370 shares during the last quarter. Finally, Verus Capital Partners LLC bought a new stake in Extra Space Storage in the 4th quarter worth about $74,000. 98.40% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently weighed in on EXR. BMO Capital Markets restated a “hold” rating and issued a $106.00 target price on shares of Extra Space Storage in a research note on Wednesday, February 19th. Stifel Nicolaus boosted their price objective on Extra Space Storage from $94.00 to $113.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Citigroup raised Extra Space Storage from a “neutral” rating to a “buy” rating and set a $119.00 target price for the company in a research report on Tuesday, April 7th. KeyCorp downgraded shares of Extra Space Storage from a “sector weight” rating to an “underweight” rating and set a $82.00 price target on the stock. in a report on Friday, April 17th. Finally, Wells Fargo & Co decreased their price objective on shares of Extra Space Storage from $117.00 to $101.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. Four analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Extra Space Storage has an average rating of “Hold” and a consensus target price of $104.20.
In other news, EVP Gwyn Goodson Mcneal sold 5,525 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $104.59, for a total value of $577,859.75. Following the sale, the executive vice president now directly owns 29,033 shares of the company’s stock, valued at $3,036,561.47. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO P Scott Stubbs sold 8,085 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $105.58, for a total transaction of $853,614.30. Following the completion of the transaction, the chief financial officer now owns 152,873 shares of the company’s stock, valued at $16,140,331.34. The disclosure for this sale can be found here. Insiders sold 16,943 shares of company stock valued at $1,712,825 over the last ninety days. Corporate insiders own 2.64% of the company’s stock.
NYSE EXR traded down $5.98 during trading on Thursday, hitting $94.68. 545,603 shares of the company’s stock traded hands, compared to its average volume of 1,180,807. The stock has a market capitalization of $13.34 billion, a price-to-earnings ratio of 28.69, a PEG ratio of 11.03 and a beta of 0.20. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.84 and a current ratio of 0.84. The business has a 50 day moving average of $91.19 and a 200-day moving average of $100.67. Extra Space Storage, Inc. has a 12-month low of $72.70 and a 12-month high of $124.46.
Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.83 EPS for the quarter, missing the Zacks’ consensus estimate of $1.20 by ($0.37). Extra Space Storage had a net margin of 34.99% and a return on equity of 16.27%. The business had revenue of $286.70 million for the quarter, compared to analysts’ expectations of $284.34 million. During the same quarter in the previous year, the company posted $1.16 earnings per share. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, analysts expect that Extra Space Storage, Inc. will post 4.85 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend is Friday, June 12th. Extra Space Storage’s payout ratio is currently 73.77%.
Extra Space Storage Profile
Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2018, the Company owned and/or operated 1,647 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.2 million units and approximately 125.7 million square feet of rentable space.
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