Extra Space Storage Inc. (EXR) Shares Sold by Shinko Asset Management Co. Ltd.
Shinko Asset Management Co. Ltd. lowered its stake in Extra Space Storage Inc. (NYSE:EXR) by 0.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,052,405 shares of the real estate investment trust’s stock after selling 285 shares during the period. Shinko Asset Management Co. Ltd.’s holdings in Extra Space Storage were worth $97,390,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in EXR. Telemus Capital LLC acquired a new stake in shares of Extra Space Storage during the first quarter valued at $748,000. Wade G W & Inc. increased its stake in shares of Extra Space Storage by 3.9% in the first quarter. Wade G W & Inc. now owns 3,875 shares of the real estate investment trust’s stock valued at $362,000 after buying an additional 145 shares during the last quarter. New Century Investment Management Inc. acquired a new stake in shares of Extra Space Storage during the first quarter valued at $2,495,000. Chesley Taft & Associates LLC increased its stake in shares of Extra Space Storage by 10.3% in the first quarter. Chesley Taft & Associates LLC now owns 15,175 shares of the real estate investment trust’s stock valued at $1,418,000 after buying an additional 1,415 shares during the last quarter. Finally, PGGM Investments increased its stake in shares of Extra Space Storage by 2.0% in the first quarter. PGGM Investments now owns 2,395,552 shares of the real estate investment trust’s stock valued at $223,888,000 after buying an additional 47,177 shares during the last quarter. 96.31% of the stock is currently owned by hedge funds and other institutional investors.
Extra Space Storage Inc. (NYSE:EXR) traded down 0.72% during mid-day trading on Friday, reaching $77.20. 1,746,340 shares of the company traded hands. Extra Space Storage Inc. has a 52-week low of $72.76 and a 52-week high of $94.81. The firm’s 50-day moving average is $82.51 and its 200 day moving average is $88.21. The stock has a market capitalization of $9.71 billion, a PE ratio of 39.23 and a beta of 0.76.
Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Wednesday, July 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.01. The company had revenue of $244.30 million for the quarter, compared to analyst estimates of $213.32 million. Extra Space Storage had a net margin of 27.43% and a return on equity of 13.27%. The business’s quarterly revenue was up 31.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 earnings per share. On average, equities research analysts expect that Extra Space Storage Inc. will post $3.76 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be paid a dividend of $0.78 per share. The ex-dividend date is Tuesday, September 13th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.04%. Extra Space Storage’s dividend payout ratio is currently 158.38%.
Several research firms have commented on EXR. Zacks Investment Research cut shares of Extra Space Storage from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. SunTrust Banks Inc. cut shares of Extra Space Storage from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $107.00 to $100.00 in a report on Monday, July 25th. Jefferies Group boosted their price target on shares of Extra Space Storage from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, May 31st. Cantor Fitzgerald reiterated a “hold” rating on shares of Extra Space Storage in a report on Sunday, May 22nd. Finally, DA Davidson began coverage on shares of Extra Space Storage in a report on Friday, June 24th. They set a “neutral” rating and a $95.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $91.96.
In other news, CEO Spencer Kirk sold 20,000 shares of Extra Space Storage stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $86.42, for a total transaction of $1,728,400.00. Following the sale, the chief executive officer now owns 734,430 shares in the company, valued at $63,469,440.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.13% of the company’s stock.
About Extra Space Storage
Extra Space Storage Inc is a self-administered and self-managed real estate investment trust (REIT). The Company operates through three segments: rental operations; tenant reinsurance, and property management, acquisition and development. The Company owns, operates, manages, acquires, develops and redevelops self-storage properties (stores).
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