Millennium Management LLC lowered its position in Extra Space Storage, Inc. (NYSE:EXR) by 85.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,760 shares of the real estate investment trust’s stock after selling 180,797 shares during the period. Millennium Management LLC’s holdings in Extra Space Storage were worth $2,603,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Conning Inc. acquired a new position in Extra Space Storage during the fourth quarter valued at approximately $202,000. Janney Montgomery Scott LLC acquired a new position in Extra Space Storage during the third quarter valued at approximately $200,000. Fox Run Management L.L.C. acquired a new position in Extra Space Storage during the fourth quarter valued at approximately $250,000. Everence Capital Management Inc. acquired a new position in Extra Space Storage during the fourth quarter valued at approximately $259,000. Finally, Cetera Advisors LLC acquired a new position in Extra Space Storage during the fourth quarter valued at approximately $274,000.
Several equities analysts have commented on EXR shares. SunTrust Banks reiterated a “hold” rating and set a $88.00 price target on shares of Extra Space Storage in a report on Friday, April 13th. 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. Zacks Investment Research raised Extra Space Storage from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a research report on Tuesday, March 6th. Cantor Fitzgerald set a $83.00 price objective on Extra Space Storage and gave the company a “hold” rating in a research report on Wednesday, February 21st. Finally, BMO Capital Markets set a $78.00 price objective on Extra Space Storage and gave the company a “hold” rating in a research report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $87.00.
In related news, VP P Scott Stubbs sold 9,250 shares of the firm’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $85.73, for a total value of $793,002.50. Following the completion of the transaction, the vice president now directly owns 144,973 shares of the company’s stock, valued at $12,428,535.29. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP James Overturf sold 880 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $81.62, for a total value of $71,825.60. Following the completion of the transaction, the executive vice president now directly owns 82,577 shares of the company’s stock, valued at $6,739,934.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,300 shares of company stock valued at $5,393,630. 3.52% of the stock is owned by company insiders.
EXR opened at $86.28 on Thursday. Extra Space Storage, Inc. has a 1-year low of $71.34 and a 1-year high of $89.62. 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 company has a market capitalization of $10,827.88, a PE ratio of 19.70, a price-to-earnings-growth ratio of 3.26 and a beta of 0.21.
Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, February 20th. The real estate investment trust reported $1.63 EPS for the quarter, topping the consensus estimate of $1.08 by $0.55. The firm 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 predict that Extra Space Storage, Inc. will post 4.59 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 15th were given a $0.78 dividend. The ex-dividend date of this dividend was 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 71.23%.
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About Extra Space Storage
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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