State of Alaska Department of Revenue grew its position in Extra Space Storage, Inc. (NYSE:EXR) by 10.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,911 shares of the real estate investment trust’s stock after buying an additional 6,300 shares during the quarter. State of Alaska Department of Revenue owned 0.05% of Extra Space Storage worth $5,848,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of EXR. Federated Investors Inc. PA purchased a new stake in Extra Space Storage in the second quarter valued at about $218,000. Amalgamated Bank increased its holdings in shares of Extra Space Storage by 54.9% in the second quarter. Amalgamated Bank now owns 14,261 shares of the real estate investment trust’s stock valued at $1,112,000 after purchasing an additional 5,057 shares during the period. Laurion Capital Management LP acquired a new position in shares of Extra Space Storage in the second quarter valued at about $741,000. Profund Advisors LLC increased its holdings in shares of Extra Space Storage by 21.9% in the second quarter. Profund Advisors LLC now owns 8,003 shares of the real estate investment trust’s stock valued at $624,000 after purchasing an additional 1,437 shares during the period. Finally, Thrivent Financial For Lutherans increased its holdings in shares of Extra Space Storage by 9.4% in the second quarter. Thrivent Financial For Lutherans now owns 66,100 shares of the real estate investment trust’s stock valued at $5,156,000 after purchasing an additional 5,660 shares during the period.
Shares of Extra Space Storage, Inc. (NYSE:EXR) traded up $0.41 during midday trading on Monday, hitting $80.80. The stock had a trading volume of 1,196,394 shares, compared to its average volume of 1,180,000. Extra Space Storage, Inc. has a twelve month low of $71.34 and a twelve month high of $88.56. The firm has a market capitalization of $10,180.00, a PE ratio of 29.71, a PEG ratio of 3.31 and a beta of 0.26. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.75 and a quick ratio of 0.75.
Extra Space Storage declared that its board has initiated a stock buyback program on Monday, November 13th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.
In other news, SVP Grace Kunde sold 350 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $87.65, for a total value of $30,677.50. Following the completion of the sale, the senior vice president now directly owns 11,209 shares of the company’s stock, valued at approximately $982,468.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Overturf sold 880 shares of the business’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $82.88, for a total value of $72,934.40. Following the completion of the sale, the executive vice president now directly owns 79,935 shares of the company’s stock, valued at $6,625,012.80. The disclosure for this sale can be found here. Insiders have sold a total of 23,830 shares of company stock valued at $2,033,065 over the last three months. 3.72% of the stock is currently owned by insiders.
EXR has been the topic of several analyst reports. BMO Capital Markets reaffirmed a “hold” rating and set a $78.00 target price on shares of Extra Space Storage in a report on Thursday, November 2nd. Cantor Fitzgerald reaffirmed a “hold” rating and set a $77.00 target price on shares of Extra Space Storage in a report on Wednesday, November 1st. Jefferies Group reissued a “hold” rating and issued a $80.00 price objective on shares of Extra Space Storage in a report on Tuesday, October 24th. Morgan Stanley raised Extra Space Storage from an “underweight” rating to an “equal weight” rating and set a $83.00 price objective on the stock in a report on Wednesday, December 13th. Finally, Wells Fargo & Co set a $93.00 target price on Extra Space Storage and gave the company a “buy” rating in a research report on Thursday, November 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $86.42.
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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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