Sumitomo Mitsui Trust Holdings Inc. Purchases 9,219 Shares of Extra Space Storage Inc (EXR)
Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 436,169 shares of the real estate investment trust’s stock after buying an additional 9,219 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.35% of Extra Space Storage worth $34,021,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Atria Investments LLC purchased a new position in shares of Extra Space Storage during the second quarter valued at approximately $213,000. Janney Montgomery Scott LLC purchased a new position in shares of Extra Space Storage during the first quarter valued at approximately $204,000. Federated Investors Inc. PA purchased a new position in shares of Extra Space Storage during the second quarter valued at approximately $218,000. Pacer Advisors Inc. raised its position in shares of Extra Space Storage by 3.2% in the first quarter. Pacer Advisors Inc. now owns 2,810 shares of the real estate investment trust’s stock valued at $209,000 after buying an additional 88 shares during the period. Finally, Global X Management Co. LLC raised its position in shares of Extra Space Storage by 42.4% in the first quarter. Global X Management Co. LLC now owns 2,830 shares of the real estate investment trust’s stock valued at $211,000 after buying an additional 842 shares during the period.
Shares of Extra Space Storage Inc (NYSE:EXR) opened at 77.27 on Tuesday. The company’s 50-day moving average price is $77.15 and its 200 day moving average price is $76.66. The stock has a market capitalization of $9.74 billion, a PE ratio of 26.41 and a beta of 0.34. Extra Space Storage Inc has a one year low of $68.09 and a one year high of $82.82.
Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.04. The business had revenue of $276 million during the quarter, compared to the consensus estimate of $239.89 million. Extra Space Storage had a net margin of 36.35% and a return on equity of 15.20%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.94 EPS. Analysts anticipate that Extra Space Storage Inc will post $2.78 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.04%. Extra Space Storage’s dividend payout ratio is currently 107.22%.
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Several equities analysts have recently commented on the company. BidaskClub lowered Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. KeyCorp reiterated a “buy” rating and set a $82.00 price objective on shares of Extra Space Storage in a research report on Friday. Cantor Fitzgerald reiterated a “hold” rating and set a $77.00 price objective on shares of Extra Space Storage in a research report on Sunday, August 20th. Goldman Sachs Group, Inc. (The) upgraded Extra Space Storage from a “buy” rating to a “conviction-buy” rating and set a $95.00 price objective on the stock in a research report on Monday, May 15th. Finally, Citigroup Inc. reiterated a “neutral” rating on shares of Extra Space Storage in a research report on Thursday, May 11th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $82.25.
In other news, Director Spencer Kirk sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $78.31, for a total transaction of $1,566,200.00. Following the completion of the sale, the director now owns 665,748 shares in the company, valued at approximately $52,134,725.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Overturf sold 1,300 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $74.90, for a total transaction of $97,370.00. Following the sale, the executive vice president now owns 88,875 shares of the company’s stock, valued at approximately $6,656,737.50. The disclosure for this sale can be found here. Insiders have sold a total of 63,900 shares of company stock valued at $4,958,971 in the last 90 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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