Northwestern Mutual Investment Management Company LLC Has $442,000 Position in Extra Space Storage Inc. (EXR)
Northwestern Mutual Investment Management Company LLC increased its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 0.0% during the second quarter, Holdings Channel reports. The firm owned 4,776 shares of the real estate investment trust’s stock after buying an additional 2 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Extra Space Storage were worth $442,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cypress Capital Management LLC WY bought a new position in Extra Space Storage during the second quarter worth $143,000. IFP Advisors Inc increased its stake in shares of Extra Space Storage by 3.1% in the second quarter. IFP Advisors Inc now owns 1,549 shares of the real estate investment trust’s stock valued at $143,000 after buying an additional 46 shares during the last quarter. Mizuho Asset Management Co. Ltd. acquired a new stake in shares of Extra Space Storage during the second quarter valued at approximately $166,000. Westport Resources Management Inc. increased its stake in shares of Extra Space Storage by 439.2% in the second quarter. Westport Resources Management Inc. now owns 2,119 shares of the real estate investment trust’s stock valued at $196,000 after buying an additional 1,726 shares during the last quarter. Finally, Johanson Financial Advisors Inc. acquired a new stake in shares of Extra Space Storage during the second quarter valued at approximately $208,000. 96.31% of the stock is currently owned by institutional investors.
Extra Space Storage Inc. (NYSE:EXR) opened at 77.56 on Tuesday. The company has a market cap of $9.76 billion, a PE ratio of 39.41 and a beta of 0.76. Extra Space Storage Inc. has a 12-month low of $72.76 and a 12-month high of $94.81. The company’s 50-day moving average price is $81.29 and its 200-day moving average price is $88.01.
Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Wednesday, July 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.01. Extra Space Storage had a net margin of 27.43% and a return on equity of 13.27%. The firm had revenue of $244.30 million for the quarter, compared to analyst estimates of $213.32 million. During the same quarter in the prior year, the business earned $0.75 earnings per share. The business’s quarterly revenue was up 31.4% compared to the same quarter last year. Equities analysts anticipate that Extra Space Storage Inc. will post $3.76 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.78 per share. The ex-dividend date is Tuesday, September 13th. This represents a $3.12 annualized dividend and a dividend yield of 4.02%. Extra Space Storage’s dividend payout ratio is currently 158.38%.
A number of equities analysts have issued reports on the company. Zacks Investment Research cut Extra Space Storage from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. SunTrust Banks Inc. cut Extra Space Storage from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $107.00 to $100.00 in a report on Monday, July 25th. Jefferies Group increased their target price on Extra Space Storage from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, May 31st. DA Davidson assumed coverage on Extra Space Storage in a report on Friday, June 24th. They set a “neutral” rating and a $95.00 target price for the company. Finally, Raymond James Financial Inc. cut Extra Space Storage from a “strong-buy” rating to an “outperform” rating and increased their target price for the stock from $95.00 to $106.00 in a report on Friday, August 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $91.96.
In other news, CEO Spencer Kirk sold 20,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 734,430 shares in the company, valued at $63,469,440.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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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