PGGM Investments Holds Position in Extra Space Storage Inc. (EXR)
PGGM Investments maintained its position in Extra Space Storage Inc. (NYSE:EXR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,395,552 shares of the real estate investment trust’s stock at the end of the second quarter. Extra Space Storage makes up 1.1% of PGGM Investments’ holdings, making the stock its 17th largest position. PGGM Investments’ holdings in Extra Space Storage were worth $221,684,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of EXR. Strs Ohio increased its position in Extra Space Storage by 0.3% in the second quarter. Strs Ohio now owns 188,165 shares of the real estate investment trust’s stock valued at $17,412,000 after buying an additional 598 shares during the period. RS Investment Management Co. LLC increased its position in Extra Space Storage by 25.3% in the second quarter. RS Investment Management Co. LLC now owns 90,790 shares of the real estate investment trust’s stock valued at $8,402,000 after buying an additional 18,360 shares during the period. Bank of Montreal Can bought a new position in Extra Space Storage during the second quarter valued at approximately $9,490,000. Shell Asset Management Co. increased its position in Extra Space Storage by 81.8% in the second quarter. Shell Asset Management Co. now owns 10,699 shares of the real estate investment trust’s stock valued at $990,000 after buying an additional 4,814 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in Extra Space Storage by 0.5% in the second quarter. Daiwa Securities Group Inc. now owns 4,103,668 shares of the real estate investment trust’s stock valued at $379,754,000 after buying an additional 19,564 shares during the period. Institutional investors and hedge funds own 96.31% of the company’s stock.
Shares of Extra Space Storage Inc. (NYSE:EXR) traded up 0.43% during midday trading on Wednesday, hitting $77.65. The company had a trading volume of 1,005,883 shares. Extra Space Storage Inc. has a one year low of $74.77 and a one year high of $94.81. The stock’s 50-day moving average price is $81.03 and its 200-day moving average price is $87.96. The stock has a market capitalization of $9.77 billion, a price-to-earnings ratio of 39.46 and a beta of 0.76.
Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Wednesday, July 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.01. The business earned $244.30 million during the quarter, compared to analysts’ expectations of $213.32 million. Extra Space Storage had a return on equity of 13.27% and a net margin of 27.43%. The firm’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 earnings per share. Analysts predict that Extra Space Storage Inc. will post $3.76 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Tuesday, September 13th. Extra Space Storage’s dividend payout ratio (DPR) is currently 158.38%.
Several research firms recently commented on EXR. KeyCorp cut their target price on Extra Space Storage from $98.00 to $89.00 and set an “overweight” rating for the company in a research report on Monday, September 12th. Cantor Fitzgerald restated a “hold” rating on shares of Extra Space Storage in a research report on Friday, August 26th. Raymond James Financial Inc. cut Extra Space Storage from a “strong-buy” rating to an “outperform” rating and raised their price target for the company from $95.00 to $106.00 in a report on Friday, August 12th. Jefferies Group dropped their price target on Extra Space Storage from $115.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, August 10th. Finally, Zacks Investment Research cut Extra Space Storage from a “buy” rating to a “hold” rating in a report on Friday, August 5th. One research 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. Extra Space Storage has a consensus rating of “Hold” and a consensus target price of $91.96.
In related news, CEO Spencer Kirk sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $86.42, for a total value of $1,728,400.00. Following the completion of the sale, the chief executive officer now directly owns 734,430 shares in the company, valued at $63,469,440.60. The sale was disclosed in a filing with the SEC, which is available at this link. 4.13% of the stock is owned by corporate insiders.
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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