First Western Capital Management Co Has $520,000 Stake in Extra Space Storage Inc (EXR)
First Western Capital Management Co reduced its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 11.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,503 shares of the real estate investment trust’s stock after selling 800 shares during the period. First Western Capital Management Co’s holdings in Extra Space Storage were worth $520,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Penserra Capital Management LLC purchased a new position in Extra Space Storage in the 3rd quarter worth approximately $131,000. Janney Montgomery Scott LLC purchased a new position in Extra Space Storage in the 3rd quarter worth approximately $200,000. Federated Investors Inc. PA purchased a new position in Extra Space Storage in the 2nd quarter worth approximately $218,000. Donaldson Capital Management LLC purchased a new position in Extra Space Storage in the 2nd quarter worth approximately $231,000. Finally, Mackenzie Financial Corp purchased a new position in Extra Space Storage in the 3rd quarter worth approximately $237,000.
EXR has been the topic of a number of research analyst reports. Zacks Investment Research raised Extra Space Storage from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Wednesday, October 11th. KeyCorp reissued a “buy” rating and issued a $82.00 price target on shares of Extra Space Storage in a report on Friday, August 25th. Robert W. Baird reissued a “buy” rating and issued a $92.00 price target on shares of Extra Space Storage in a report on Wednesday, November 29th. Wells Fargo & Company set a $93.00 price target on Extra Space Storage and gave the stock a “buy” rating in a report on Thursday, November 30th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $78.00 price target on shares of Extra Space Storage in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $86.73.
Extra Space Storage Inc (EXR) traded up $1.54 during trading hours on Tuesday, reaching $87.82. The company’s stock had a trading volume of 907,700 shares, compared to its average volume of 1,011,200. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.68. Extra Space Storage Inc has a 1-year low of $71.34 and a 1-year high of $88.05. The company has a market cap of $10,871.95, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 3.32 and a beta of 0.39.
Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.03. Extra Space Storage had a return on equity of 14.41% and a net margin of 33.21%. The business had revenue of $284.16 million for the quarter, compared to the consensus estimate of $246.85 million. During the same quarter in the previous year, the company posted $1.02 EPS. The company’s revenue was up 10.5% compared to the same quarter last year. equities research analysts expect that Extra Space Storage Inc will post 4.34 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Thursday, December 14th. Extra Space Storage’s payout ratio is 114.71%.
Extra Space Storage declared that its board has authorized a stock buyback plan on Monday, November 13th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
In other news, Director Spencer Kirk sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $79.64, for a total transaction of $1,592,800.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Grace Kunde sold 350 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $87.65, for a total value of $30,677.50. Following the transaction, the senior vice president now directly owns 11,209 shares in the company, valued at approximately $982,468.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,250 shares of company stock worth $5,276,770. Corporate 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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