D.A. Davidson & CO. reduced its holdings in shares of Extra Space Storage, Inc. (NYSE:EXR) by 18.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,046 shares of the real estate investment trust’s stock after selling 1,600 shares during the period. D.A. Davidson & CO.’s holdings in Extra Space Storage were worth $616,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Fieldpoint Private Securities LLC purchased a new stake in shares of Extra Space Storage in the 3rd quarter valued at approximately $103,000. Penserra Capital Management LLC purchased a new stake in shares of Extra Space Storage in the 3rd quarter valued at approximately $131,000. Conning Inc. purchased a new stake in shares of Extra Space Storage in the 4th quarter valued at approximately $202,000. Janney Montgomery Scott LLC purchased a new stake in shares of Extra Space Storage in the 3rd quarter valued at approximately $200,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Extra Space Storage in the 4th quarter valued at approximately $250,000.
In other news, Director Spencer Kirk sold 20,000 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $85.24, for a total value of $1,704,800.00. Following the completion of the transaction, the director now owns 578,748 shares in the company, valued at approximately $49,332,479.52. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP James Overturf sold 880 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $81.62, for a total transaction of $71,825.60. Following the completion of the transaction, the executive vice president now owns 82,577 shares of the company’s stock, valued at approximately $6,739,934.74. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,060 shares of company stock valued at $1,961,698. Company insiders own 3.72% of the company’s stock.
Extra Space Storage, Inc. (NYSE EXR) opened at $84.43 on Friday. Extra Space Storage, Inc. has a twelve month low of $71.34 and a twelve month high of $88.56. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.93 and a quick ratio of 0.75. The stock has a market cap of $10,269.58, a price-to-earnings ratio of 18.65, a PEG ratio of 3.33 and a beta of 0.26.
Extra Space Storage declared that its Board of Directors has initiated a stock repurchase plan on Monday, November 13th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend is Wednesday, March 14th. Extra Space Storage’s payout ratio is 82.98%.
A number of equities research analysts have commented on the stock. Cantor Fitzgerald set a $83.00 price objective on shares of Extra Space Storage and gave the company a “hold” rating in a research report on Wednesday. BMO Capital Markets set a $78.00 price objective on shares of Extra Space Storage and gave the company a “hold” rating in a research report on Tuesday. Morgan Stanley raised shares of Extra Space Storage from an “underweight” rating to an “equal weight” rating and set a $83.00 price objective on the stock in a research report on Wednesday, December 13th. Zacks Investment Research downgraded shares of Extra Space Storage from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Finally, Wells Fargo & Co set a $93.00 price objective on shares of Extra Space Storage and gave the company a “buy” rating in a research report on Thursday, November 30th. One 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. The stock presently has a consensus rating of “Hold” and an average price target of $86.58.
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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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