Renaissance Technologies LLC lessened its holdings in shares of Extra Space Storage, Inc. (NYSE:EXR) by 95.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,600 shares of the real estate investment trust’s stock after selling 235,900 shares during the period. Renaissance Technologies LLC’s holdings in Extra Space Storage were worth $1,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Korea Investment CORP raised its holdings in shares of Extra Space Storage by 10.4% during the second quarter. Korea Investment CORP now owns 75,291 shares of the real estate investment trust’s stock worth $7,515,000 after purchasing an additional 7,100 shares during the last quarter. Signet Financial Management LLC raised its holdings in shares of Extra Space Storage by 9.7% during the second quarter. Signet Financial Management LLC now owns 13,536 shares of the real estate investment trust’s stock worth $1,351,000 after purchasing an additional 1,198 shares during the last quarter. Federated Investors Inc. PA increased its holdings in Extra Space Storage by 369.4% in the second quarter. Federated Investors Inc. PA now owns 7,909 shares of the real estate investment trust’s stock valued at $789,000 after buying an additional 6,224 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in Extra Space Storage in the second quarter valued at $813,000. Finally, SG Americas Securities LLC increased its holdings in Extra Space Storage by 34.4% in the second quarter. SG Americas Securities LLC now owns 52,814 shares of the real estate investment trust’s stock valued at $5,271,000 after buying an additional 13,531 shares in the last quarter.
In other news, EVP James Overturf sold 880 shares of Extra Space Storage stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $94.58, for a total value of $83,230.40. Following the sale, the executive vice president now owns 73,857 shares in the company, valued at $6,985,395.06. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 2,640 shares of company stock worth $235,849. Company insiders own 3.52% of the company’s stock.
EXR has been the subject of a number of recent analyst reports. ValuEngine cut shares of Extra Space Storage from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Citigroup cut their price objective on shares of Extra Space Storage from $103.00 to $92.00 and set a “hold” rating for the company in a report on Friday, October 5th. Robert W. Baird cut shares of Extra Space Storage from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a report on Wednesday, July 18th. Goldman Sachs Group cut shares of Extra Space Storage from a “conviction-buy” rating to a “buy” rating in a report on Thursday, July 12th. Finally, BMO Capital Markets set a $93.00 price objective on shares of Extra Space Storage and gave the company a “hold” rating in a report on Tuesday, July 31st. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $95.27.
EXR opened at $90.38 on Friday. Extra Space Storage, Inc. has a fifty-two week low of $77.53 and a fifty-two 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. The firm has a market capitalization of $11.51 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 3.82 and a beta of 0.11.
Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, October 30th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.17). Extra Space Storage had a net margin of 47.29% and a return on equity of 20.20%. The company had revenue of $266.70 million during the quarter, compared to analyst estimates of $266.81 million. During the same quarter last year, the business earned $1.13 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities analysts anticipate that Extra Space Storage, Inc. will post 4.63 EPS for the current year.
Extra Space Storage 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.
Further Reading: Average Daily Trade Volume – ADTV
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