United Services Automobile Association grew its stake in Extra Space Storage, Inc. (NYSE:EXR) by 36.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 53,613 shares of the real estate investment trust’s stock after purchasing an additional 14,200 shares during the period. United Services Automobile Association’s holdings in Extra Space Storage were worth $5,351,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of EXR. Assetmark Inc. lifted its holdings in shares of Extra Space Storage by 7,612.5% in the 2nd quarter. Assetmark Inc. now owns 1,234 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 1,218 shares during the period. Piedmont Investment Advisors LLC purchased a new position in shares of Extra Space Storage in the 2nd quarter valued at about $143,000. Focused Wealth Management Inc purchased a new position in shares of Extra Space Storage in the 2nd quarter valued at about $185,000. Stanley Laman Group Ltd. purchased a new position in shares of Extra Space Storage in the 2nd quarter valued at about $200,000. Finally, Bbva Compass Bancshares Inc. purchased a new position in shares of Extra Space Storage in the 2nd quarter valued at about $220,000.
In other Extra Space Storage news, EVP James Overturf sold 880 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $94.58, for a total transaction of $83,230.40. Following the completion of the sale, the executive vice president now directly owns 73,857 shares in the company, valued at approximately $6,985,395.06. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last quarter, insiders have sold 2,640 shares of company stock valued at $244,191. 3.52% of the stock is owned by company insiders.
NYSE:EXR opened at $84.86 on Friday. Extra Space Storage, Inc. has a 12 month low of $76.55 and a 12 month high of $101.96. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.76. The company has a market cap of $10.96 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 3.62 and a beta of 0.11.
Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, July 31st. The real estate investment trust reported $1.15 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.15. Extra Space Storage had a return on equity of 18.93% and a net margin of 44.23%. The company had revenue of $258.13 million during the quarter, compared to analyst estimates of $257.14 million. During the same period in the previous year, the business earned $1.09 EPS. Extra Space Storage’s quarterly revenue was up 7.2% on a year-over-year basis. Equities research analysts forecast that Extra Space Storage, Inc. will post 4.63 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were paid a dividend of $0.86 per share. The ex-dividend date was Thursday, September 13th. This represents a $3.44 annualized dividend and a yield of 4.05%. Extra Space Storage’s dividend payout ratio (DPR) is currently 78.54%.
EXR has been the subject of several recent analyst reports. Bank of America lifted their price target on Extra Space Storage from $107.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, July 16th. Zacks Investment Research upgraded Extra Space Storage from a “hold” rating to a “buy” rating and set a $109.00 price target for the company in a research note on Wednesday, June 20th. Goldman Sachs Group lowered Extra Space Storage from a “conviction-buy” rating to a “buy” rating in a research note on Thursday, July 12th. Citigroup cut their price target on Extra Space Storage from $103.00 to $92.00 and set a “hold” rating for the company in a research note on Friday, October 5th. Finally, SunTrust Banks restated a “hold” rating and issued a $93.00 price target on shares of Extra Space Storage in a research note on Wednesday, August 8th. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $95.27.
Extra Space Storage Company Profile
Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of June 30, 2018, the Company owned and/or operated 1,568 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1,090,000 units and approximately 119 million square feet of rentable space.
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