Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP lowered its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 0.3% in the second quarter, Holdings Channel reports. The institutional investor owned 20,075 shares of the real estate investment trust’s stock after selling 67 shares during the quarter. Extra Space Storage accounts for approximately 1.2% of Wakefield Asset Management LLLP’s portfolio, making the stock its 13th biggest position. Wakefield Asset Management LLLP’s holdings in Extra Space Storage were worth $3,289,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV boosted its holdings in Extra Space Storage by 7.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 9,411 shares of the real estate investment trust’s stock worth $1,541,000 after purchasing an additional 650 shares during the period. Principal Financial Group Inc. boosted its holdings in Extra Space Storage by 26.4% in the second quarter. Principal Financial Group Inc. now owns 4,575,561 shares of the real estate investment trust’s stock worth $749,568,000 after purchasing an additional 954,905 shares during the period. Cibc World Markets Corp boosted its holdings in Extra Space Storage by 382.9% in the second quarter. Cibc World Markets Corp now owns 60,797 shares of the real estate investment trust’s stock worth $9,960,000 after purchasing an additional 48,207 shares during the period. Gulf International Bank UK Ltd boosted its holdings in Extra Space Storage by 4.0% in the second quarter. Gulf International Bank UK Ltd now owns 28,843 shares of the real estate investment trust’s stock worth $4,725,000 after purchasing an additional 1,114 shares during the period. Finally, Ethic Inc. boosted its holdings in Extra Space Storage by 111.5% in the second quarter. Ethic Inc. now owns 3,785 shares of the real estate investment trust’s stock worth $620,000 after purchasing an additional 1,995 shares during the period. 96.43% of the stock is owned by institutional investors and hedge funds.

A number of research firms have issued reports on EXR. Truist raised their target price on Extra Space Storage from $176.00 to $188.00 and gave the company a “buy” rating in a research note on Monday, August 16th. They noted that the move was a valuation call. Raymond James cut Extra Space Storage from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 10th. Morgan Stanley raised their target price on Extra Space Storage from $146.00 to $157.00 and gave the company an “underweight” rating in a research note on Monday, August 16th. BMO Capital Markets reiterated a “market perform” rating and issued a $160.00 target price on shares of Extra Space Storage in a research note on Thursday, May 20th. Finally, JPMorgan Chase & Co. raised their target price on Extra Space Storage from $140.00 to $171.00 and gave the company an “overweight” rating in a research note on Wednesday, June 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $170.15.

Extra Space Storage stock traded up $0.34 during midday trading on Wednesday, hitting $183.90. The company’s stock had a trading volume of 1,543 shares, compared to its average volume of 779,158. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.60. The stock’s 50-day moving average price is $177.77 and its 200-day moving average price is $156.69. Extra Space Storage Inc. has a 12 month low of $102.74 and a 12 month high of $194.67. The company has a market capitalization of $24.61 billion, a PE ratio of 37.85, a price-to-earnings-growth ratio of 3.31 and a beta of 0.19.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, July 27th. The real estate investment trust reported $1.25 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.31). Extra Space Storage had a return on equity of 21.51% and a net margin of 46.33%. The business had revenue of $378.60 million during the quarter, compared to the consensus estimate of $318.63 million. During the same quarter last year, the firm posted $1.23 earnings per share. Extra Space Storage’s revenue was up 35.6% compared to the same quarter last year. As a group, equities analysts anticipate that Extra Space Storage Inc. will post 6.57 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Wednesday, September 15th will be paid a $1.25 dividend. The ex-dividend date is Tuesday, September 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.72%. This is a boost from Extra Space Storage’s previous quarterly dividend of $1.00. Extra Space Storage’s dividend payout ratio (DPR) is currently 75.76%.

In other Extra Space Storage news, CEO Joseph D. Margolis sold 3,750 shares of Extra Space Storage stock in a transaction dated Thursday, July 1st. The stock was sold at an average price of $164.89, for a total transaction of $618,337.50. Following the transaction, the chief executive officer now owns 52,492 shares of the company’s stock, valued at approximately $8,655,405.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gwyn Goodson Mcneal sold 2,500 shares of Extra Space Storage stock in a transaction dated Thursday, July 29th. The shares were sold at an average price of $174.42, for a total value of $436,050.00. Following the transaction, the executive vice president now directly owns 26,050 shares in the company, valued at approximately $4,543,641. The disclosure for this sale can be found here. Insiders sold a total of 17,390 shares of company stock worth $2,990,854 in the last three months. 2.20% of the stock is currently owned by company insiders.

Extra Space Storage Company Profile

Extra Space Storage, Inc is a real estate investment trust. It operates through the following segments: Self-Storage Operations and Tenant Reinsurance. The Self-Storage Operations segment includes rental operations of wholly-owned stores. The Tenant Reinsurance segment includes reinsurance of risks relating to the loss of goods stored by tenants in stores.

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Institutional Ownership by Quarter for Extra Space Storage (NYSE:EXR)

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