Schiavi & Co LLC Acquires Shares of 6,827 Extra Space Storage Inc $EXR

Schiavi & Co LLC bought a new stake in Extra Space Storage Inc (NYSE:EXR) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,827 shares of the real estate investment trust’s stock, valued at approximately $962,000. Extra Space Storage accounts for approximately 0.3% of Schiavi & Co LLC’s portfolio, making the stock its 13th biggest position.

Other large investors have also recently bought and sold shares of the company. Versant Capital Management Inc raised its holdings in shares of Extra Space Storage by 60.2% in the third quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 80 shares during the last quarter. Brown Advisory Inc. increased its position in Extra Space Storage by 1.8% in the 2nd quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock valued at $653,000 after acquiring an additional 80 shares during the period. Exchange Traded Concepts LLC raised its stake in Extra Space Storage by 10.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 983 shares of the real estate investment trust’s stock valued at $139,000 after acquiring an additional 91 shares during the last quarter. CX Institutional lifted its position in Extra Space Storage by 8.7% during the 3rd quarter. CX Institutional now owns 1,193 shares of the real estate investment trust’s stock worth $168,000 after acquiring an additional 95 shares during the period. Finally, Simplicity Wealth LLC grew its stake in shares of Extra Space Storage by 6.9% in the 3rd quarter. Simplicity Wealth LLC now owns 1,541 shares of the real estate investment trust’s stock valued at $217,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Trading Up 1.2%

Shares of EXR opened at $138.81 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.24 and a quick ratio of 0.24. The firm has a 50 day simple moving average of $134.90 and a 200-day simple moving average of $139.36. Extra Space Storage Inc has a 1-year low of $121.03 and a 1-year high of $162.77. The stock has a market cap of $29.46 billion, a price-to-earnings ratio of 30.98, a price-to-earnings-growth ratio of 2.64 and a beta of 1.27.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.02. Extra Space Storage had a return on equity of 6.56% and a net margin of 28.40%.The firm had revenue of $858.46 million for the quarter, compared to analyst estimates of $736.26 million. During the same quarter in the prior year, the company earned $2.07 EPS. Extra Space Storage’s revenue was up 4.1% on a year-over-year basis. Equities analysts forecast that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were given a $1.62 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.7%. Extra Space Storage’s payout ratio is currently 144.64%.

Analyst Ratings Changes

A number of brokerages have commented on EXR. Morgan Stanley cut their price objective on shares of Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating for the company in a research report on Friday, December 5th. Barclays reissued an “overweight” rating and set a $164.00 target price on shares of Extra Space Storage in a research note on Tuesday, January 13th. Evercore ISI reaffirmed a “cautious” rating on shares of Extra Space Storage in a report on Monday, November 3rd. UBS Group decreased their target price on shares of Extra Space Storage from $156.00 to $148.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Finally, Wall Street Zen cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Six analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $146.53.

About Extra Space Storage

Extra Space Storage (NYSE: EXR) is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.