Chevy Chase Trust Holdings Inc. cut its stake in shares of Extra Space Storage, Inc. (NYSE:EXR) by 2.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 103,834 shares of the real estate investment trust’s stock after selling 2,240 shares during the period. Chevy Chase Trust Holdings Inc. owned about 0.08% of Extra Space Storage worth $8,996,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Assetmark Inc. lifted its stake in Extra Space Storage by 7,612.5% in the second quarter. Assetmark Inc. now owns 1,234 shares of the real estate investment trust’s stock valued at $123,000 after acquiring an additional 1,218 shares during the last quarter. First Hawaiian Bank acquired a new stake in Extra Space Storage in the third quarter valued at approximately $120,000. Piedmont Investment Advisors LLC acquired a new stake in Extra Space Storage in the second quarter valued at approximately $143,000. Focused Wealth Management Inc acquired a new stake in Extra Space Storage in the second quarter valued at approximately $185,000. Finally, Stanley Laman Group Ltd. acquired a new stake in Extra Space Storage in the second quarter valued at approximately $200,000.
NYSE EXR opened at $90.38 on Friday. 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 capitalization of $11.51 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 3.82 and a beta of 0.11. Extra Space Storage, Inc. has a 12-month low of $77.53 and a 12-month high of $101.96.
Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.19 by ($0.17). Extra Space Storage had a return on equity of 20.20% and a net margin of 47.29%. The firm had revenue of $266.70 million during the quarter, compared to analyst estimates of $266.81 million. During the same quarter in the previous year, the firm posted $1.13 earnings per share. Extra Space Storage’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, analysts anticipate that Extra Space Storage, Inc. will post 4.63 EPS for the current fiscal year.
In other news, EVP James Overturf sold 880 shares of the business’s stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $87.19, for a total value of $76,727.20. Following the completion of the sale, the executive vice president now directly owns 72,977 shares in the company, valued at $6,362,864.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 2,640 shares of company stock valued at $235,849 over the last 90 days. 3.52% of the stock is owned by corporate insiders.
A number of analysts have issued reports on the stock. ValuEngine upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating in a research note on Tuesday. Citigroup reduced 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 note on Friday, October 5th. SunTrust Banks reiterated a “hold” rating and issued a $93.00 target price on shares of Extra Space Storage in a research note on Wednesday, August 8th. BMO Capital Markets set a $93.00 target price on shares of Extra Space Storage and gave the company a “hold” rating in a research note on Tuesday, July 31st. Finally, Robert W. Baird cut shares of Extra Space Storage from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a research note on Wednesday, July 18th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target 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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