Extra Space Storage, Inc. (EXR) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its holdings in Extra Space Storage, Inc. (NYSE:EXR) by 2.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,341,197 shares of the real estate investment trust’s stock after buying an additional 34,402 shares during the quarter. Bank of New York Mellon Corp owned about 1.06% of Extra Space Storage worth $133,865,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in shares of Extra Space Storage by 1.6% in the second quarter. BlackRock Inc. now owns 12,751,604 shares of the real estate investment trust’s stock valued at $1,272,738,000 after buying an additional 200,476 shares during the last quarter. Cbre Clarion Securities LLC raised its holdings in shares of Extra Space Storage by 20.6% in the second quarter. Cbre Clarion Securities LLC now owns 4,585,475 shares of the real estate investment trust’s stock valued at $457,676,000 after buying an additional 781,758 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Extra Space Storage by 2.4% in the first quarter. Principal Financial Group Inc. now owns 2,847,149 shares of the real estate investment trust’s stock valued at $248,727,000 after buying an additional 66,223 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Extra Space Storage by 205.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,059,696 shares of the real estate investment trust’s stock valued at $205,577,000 after buying an additional 1,385,706 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Extra Space Storage by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,936,374 shares of the real estate investment trust’s stock valued at $193,271,000 after buying an additional 21,389 shares during the last quarter.

EXR has been the subject of a number of research analyst reports. 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 report on Friday, October 5th. SunTrust Banks reaffirmed a “hold” rating and issued a $93.00 price target on shares of Extra Space Storage in a report on Wednesday, August 8th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $104.00 price target on shares of Extra Space Storage in a report on Wednesday, July 18th. Bank of America lifted their price objective on Extra Space Storage from $107.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, July 16th. Finally, Goldman Sachs Group lowered Extra Space Storage from a “conviction-buy” rating to a “buy” rating in a research report on Thursday, July 12th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $95.27.

In related news, EVP James Overturf sold 880 shares of Extra Space Storage stock in a transaction dated Thursday, September 20th. The stock was 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 SEC, which is available through the SEC website. Over the last quarter, insiders sold 2,640 shares of company stock valued at $235,849. Corporate insiders own 3.52% of the company’s stock.

Shares of EXR stock opened at $88.87 on Tuesday. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.53 and a quick ratio of 0.64. The stock has a market capitalization of $11.03 billion, a P/E ratio of 20.29, a PEG ratio of 3.65 and a beta of 0.07. 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 announced its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $1.02 EPS for the quarter, missing the Zacks’ consensus estimate of $1.19 by ($0.17). The firm had revenue of $266.70 million during the quarter, compared to analyst estimates of $266.81 million. Extra Space Storage had a return on equity of 20.11% and a net margin of 47.29%. Extra Space Storage’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.13 earnings per share. Equities analysts anticipate that Extra Space Storage, Inc. will post 4.64 earnings per share for the current fiscal year.

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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: Float

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

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