Extra Space Storage Inc $EXR Stock Purchased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. raised its position in Extra Space Storage Inc (NYSE:EXR) by 9.8% in the third quarter, Holdings Channel reports. The fund owned 37,920 shares of the real estate investment trust’s stock after buying an additional 3,370 shares during the period. Rakuten Investment Management Inc.’s holdings in Extra Space Storage were worth $5,062,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Extra Space Storage during the 2nd quarter worth about $5,535,000. Squarepoint Ops LLC raised its position in shares of Extra Space Storage by 359.9% during the 2nd quarter. Squarepoint Ops LLC now owns 25,949 shares of the real estate investment trust’s stock worth $3,770,000 after acquiring an additional 20,307 shares in the last quarter. Osmosis Investment Management UK Ltd acquired a new stake in shares of Extra Space Storage during the 2nd quarter worth about $924,000. Legal & General Group Plc purchased a new stake in Extra Space Storage during the second quarter worth approximately $299,746,000. Finally, OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Extra Space Storage during the second quarter worth approximately $6,042,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analyst Ratings Changes

EXR has been the topic of several recent analyst reports. Scotiabank increased their price target on shares of Extra Space Storage from $157.00 to $158.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 18th. JPMorgan Chase & Co. reduced their price objective on shares of Extra Space Storage from $157.00 to $153.00 and set a “neutral” rating for the company in a research report on Monday, September 21st. Barclays upped their target price on shares of Extra Space Storage from $170.00 to $172.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Jefferies Financial Group dropped their target price on shares of Extra Space Storage from $165.00 to $151.00 in a research report on Monday, October 12th. Finally, UBS Group lifted their price target on shares of Extra Space Storage from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Wednesday. Eight investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, Extra Space Storage presently has an average rating of “Moderate Buy” and a consensus price target of $156.75.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock traded down $0.95 on Friday, hitting $159.16. The stock had a trading volume of 1,264,063 shares, compared to its average volume of 1,356,646. The stock has a market cap of $33.22 billion, a price-to-earnings ratio of 32.35, a P/E/G ratio of 4.56 and a beta of 1.07. The company has a current ratio of 0.25, a quick ratio of 1.56 and a debt-to-equity ratio of 0.97. Extra Space Storage Inc has a 52-week low of $125.71 and a 52-week high of $163.18. The company’s 50 day moving average price is $139.90 and its 200 day moving average price is $142.68.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, October 27th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.93). The firm had revenue of $889.79 million for the quarter, compared to analysts’ expectations of $886.61 million. Extra Space Storage had a return on equity of 7.36% and a net margin of 29.90%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.08 EPS. On average, research analysts anticipate that Extra Space Storage Inc will post 8.46 EPS for the current year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, December 15th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.1%. Extra Space Storage’s dividend payout ratio (DPR) is 131.71%.

Extra Space Storage Company Profile