Extra Space Storage, Inc. (NYSE:EXR) saw some unusual options trading on Wednesday. Investors bought 1,195 call options on the stock. This represents an increase of approximately 1,684% compared to the typical daily volume of 67 call options.
In other Extra Space Storage news, insider Kenneth M. Woolley sold 2,195 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $86.44, for a total transaction of $189,735.80. Following the transaction, the insider now owns 807,444 shares in the company, valued at $69,795,459.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP James Overturf sold 1,300 shares of the stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $86.26, for a total value of $112,138.00. Following the transaction, the executive vice president now owns 81,075 shares in the company, valued at approximately $6,993,529.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,470 shares of company stock worth $4,632,976. Corporate insiders own 3.72% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. lifted its position in Extra Space Storage by 11.7% in the third quarter. Advisors Asset Management Inc. now owns 5,621 shares of the real estate investment trust’s stock worth $449,000 after purchasing an additional 589 shares during the period. Loudon Investment Management LLC lifted its position in Extra Space Storage by 5.8% in the third quarter. Loudon Investment Management LLC now owns 10,780 shares of the real estate investment trust’s stock worth $862,000 after purchasing an additional 595 shares during the period. Global X MANAGEMENT CO LLC lifted its position in Extra Space Storage by 18.4% in the third quarter. Global X MANAGEMENT CO LLC now owns 3,874 shares of the real estate investment trust’s stock worth $310,000 after purchasing an additional 602 shares during the period. Norinchukin Bank The lifted its position in Extra Space Storage by 7.3% in the third quarter. Norinchukin Bank The now owns 9,372 shares of the real estate investment trust’s stock worth $749,000 after purchasing an additional 635 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. lifted its position in Extra Space Storage by 0.9% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 82,490 shares of the real estate investment trust’s stock worth $6,591,000 after purchasing an additional 700 shares during the period.
Several equities analysts have commented on the company. Morgan Stanley upgraded Extra Space Storage from an “underweight” rating to an “equal weight” rating and set a $83.00 price target on the stock in a report on Wednesday, December 13th. Zacks Investment Research cut Extra Space Storage from a “buy” rating to a “hold” rating in a research report on Thursday, November 23rd. Cantor Fitzgerald set a $86.00 price objective on Extra Space Storage and gave the company a “hold” rating in a research report on Thursday, March 8th. Jefferies Group set a $92.00 price objective on Extra Space Storage and gave the company a “hold” rating in a research report on Tuesday, March 6th. Finally, Robert W. Baird reissued a “buy” rating and issued a $92.00 price objective on shares of Extra Space Storage in a research report on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $86.92.
Shares of Extra Space Storage (NYSE EXR) opened at $86.16 on Thursday. Extra Space Storage has a 12-month low of $71.34 and a 12-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 0.93. The firm has a market capitalization of $11,079.96, a P/E ratio of 20.12, a PEG ratio of 3.34 and a beta of 0.25.
Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.55. The company had revenue of $281.84 million during the quarter, compared to analysts’ expectations of $283.74 million. Extra Space Storage had a return on equity of 18.87% and a net margin of 44.67%. sell-side analysts anticipate that Extra Space Storage will post 4.59 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be given a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $3.12 annualized dividend and a yield of 3.62%. Extra Space Storage’s dividend payout ratio (DPR) is currently 82.98%.
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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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