Schroder Investment Management Group Reduces Position in Extra Space Storage, Inc. (EXR)

Schroder Investment Management Group lessened its holdings in Extra Space Storage, Inc. (NYSE:EXR) by 70.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,307 shares of the real estate investment trust’s stock after selling 122,643 shares during the quarter. Schroder Investment Management Group’s holdings in Extra Space Storage were worth $5,235,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brown Advisory Inc. increased its position in Extra Space Storage by 13.6% during the 1st quarter. Brown Advisory Inc. now owns 4,473 shares of the real estate investment trust’s stock valued at $391,000 after purchasing an additional 534 shares during the period. Commonwealth Equity Services LLC increased its position in Extra Space Storage by 13.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 4,756 shares of the real estate investment trust’s stock valued at $475,000 after purchasing an additional 564 shares during the period. Cubist Systematic Strategies LLC increased its position in Extra Space Storage by 7.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 9,228 shares of the real estate investment trust’s stock valued at $921,000 after purchasing an additional 664 shares during the period. Nissay Asset Management Corp Japan ADV increased its position in Extra Space Storage by 4.4% during the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 17,813 shares of the real estate investment trust’s stock valued at $1,778,000 after purchasing an additional 749 shares during the period. Finally, IFP Advisors Inc increased its position in Extra Space Storage by 16.5% during the 2nd quarter. IFP Advisors Inc now owns 5,329 shares of the real estate investment trust’s stock valued at $532,000 after purchasing an additional 754 shares during the period.

In related news, EVP James Overturf sold 880 shares of the stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $87.19, for a total value of $76,727.20. Following the transaction, the executive vice president now directly owns 72,977 shares in the company, valued at approximately $6,362,864.63. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders have sold 2,640 shares of company stock valued at $235,849. Insiders own 3.52% of the company’s stock.

Shares of EXR stock opened at $86.37 on Friday. The company has a market cap of $10.89 billion, a PE ratio of 19.17, a P/E/G ratio of 3.61 and a beta of 0.11. Extra Space Storage, Inc. has a 52 week low of $76.55 and a 52 week high of $101.96. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.64 and a quick ratio of 0.64.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, July 31st. The real estate investment trust reported $1.15 EPS for the quarter, hitting the consensus estimate of $1.15. The company had revenue of $258.13 million during the quarter, compared to the consensus estimate of $257.14 million. Extra Space Storage had a net margin of 44.23% and a return on equity of 18.93%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 EPS. On average, sell-side analysts expect that Extra Space Storage, Inc. will post 4.63 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend was Thursday, September 13th. Extra Space Storage’s dividend payout ratio (DPR) is 78.54%.

A number of analysts have weighed in on EXR shares. Citigroup decreased their target price on shares of Extra Space Storage from $103.00 to $92.00 and set a “hold” rating for the company in a research report on Friday, October 5th. SunTrust Banks reaffirmed a “hold” rating and set a $93.00 price objective on shares of Extra Space Storage in a research report on Wednesday, August 8th. Jefferies Financial Group reaffirmed a “hold” rating and set a $104.00 price objective on shares of Extra Space Storage in a research report on Wednesday, July 18th. Zacks Investment Research downgraded shares of Extra Space Storage from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Finally, Bank of America raised their price objective on shares of Extra Space Storage from $107.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, July 16th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Extra Space Storage currently has an average rating of “Hold” and an average target price of $95.27.

About Extra Space Storage

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.

Further Reading: What is the balance sheet?

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Institutional Ownership by Quarter for Extra Space Storage (NYSE:EXR)

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