Extra Space Storage Inc (EXR) Stake Boosted by QS Investors LLC
QS Investors LLC lifted its holdings in Extra Space Storage Inc (NYSE:EXR) by 42.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,690 shares of the real estate investment trust’s stock after purchasing an additional 3,200 shares during the period. QS Investors LLC’s holdings in Extra Space Storage were worth $834,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Ontario Teachers Pension Plan Board increased its stake in Extra Space Storage by 55.2% during the second quarter. Ontario Teachers Pension Plan Board now owns 38,433 shares of the real estate investment trust’s stock valued at $2,998,000 after acquiring an additional 13,668 shares during the period. Veritable L.P. bought a new position in Extra Space Storage during the second quarter valued at about $1,227,000. Dimensional Fund Advisors LP increased its stake in Extra Space Storage by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,774,039 shares of the real estate investment trust’s stock valued at $138,374,000 after acquiring an additional 65,311 shares during the period. Parametric Portfolio Associates LLC increased its stake in Extra Space Storage by 25.3% during the second quarter. Parametric Portfolio Associates LLC now owns 188,601 shares of the real estate investment trust’s stock valued at $14,711,000 after acquiring an additional 38,111 shares during the period. Finally, Advisor Group Inc. increased its stake in Extra Space Storage by 5.2% during the second quarter. Advisor Group Inc. now owns 5,338 shares of the real estate investment trust’s stock valued at $417,000 after acquiring an additional 266 shares during the period.
EXR has been the topic of several research reports. BidaskClub upgraded Extra Space Storage from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Cantor Fitzgerald restated a “hold” rating and set a $77.00 price target on shares of Extra Space Storage in a research note on Sunday, August 20th. Evercore ISI restated an “in-line” rating and set a $80.00 price target (up from $78.00) on shares of Extra Space Storage in a research note on Thursday, September 14th. BMO Capital Markets initiated coverage on Extra Space Storage in a research note on Monday, September 11th. They set a “market perform” rating and a $78.00 price target on the stock. Finally, Bank of America Corporation lowered Extra Space Storage from a “buy” rating to a “neutral” rating and lowered their price target for the company from $83.00 to $81.00 in a research note on Thursday, July 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $82.56.
Shares of Extra Space Storage Inc (EXR) opened at 82.71 on Friday. The company has a market capitalization of $10.42 billion, a price-to-earnings ratio of 28.27 and a beta of 0.36. The stock has a 50 day moving average price of $79.30 and a 200 day moving average price of $77.40. Extra Space Storage Inc has a 1-year low of $68.09 and a 1-year high of $83.23.
Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, August 1st. The real estate investment trust reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.04. Extra Space Storage had a net margin of 36.35% and a return on equity of 15.20%. The company had revenue of $276.00 million for the quarter, compared to analysts’ expectations of $239.89 million. During the same period last year, the firm earned $0.94 earnings per share. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. Analysts forecast that Extra Space Storage Inc will post $2.76 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a dividend of $0.78 per share. The ex-dividend date was Thursday, September 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.77%. Extra Space Storage’s dividend payout ratio is presently 107.22%.
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In other news, EVP James Overturf sold 1,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $75.50, for a total transaction of $98,150.00. Following the transaction, the executive vice president now directly owns 86,275 shares of the company’s stock, valued at $6,513,762.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Spencer Kirk sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $79.09, for a total transaction of $1,581,800.00. Following the transaction, the director now directly owns 665,748 shares in the company, valued at $52,654,009.32. The disclosure for this sale can be found here. Insiders have sold 63,900 shares of company stock worth $5,037,638 over the last ninety days. Insiders own 3.72% of the company’s stock.
Extra Space Storage Company Profile
Extra Space Storage Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, manages, acquires, develops and redevelops self-storage properties located throughout the United States. The Company operates through three segments: rental operations; tenant reinsurance, and property management, acquisition and development.
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