State Board of Administration of Florida Retirement System grew its holdings in shares of Extra Space Storage, Inc. (NYSE:EXR) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 180,875 shares of the real estate investment trust’s stock after buying an additional 1,460 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.14% of Extra Space Storage worth $15,671,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in EXR. First Hawaiian Bank purchased a new position in shares of Extra Space Storage during the 3rd quarter valued at approximately $120,000. Assetmark Inc. boosted its stake in shares of Extra Space Storage by 7,612.5% during 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 last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of Extra Space Storage during the 2nd quarter valued at approximately $143,000. Focused Wealth Management Inc purchased a new position in shares of Extra Space Storage during the 2nd quarter valued at approximately $185,000. Finally, Stanley Laman Group Ltd. purchased a new position in shares of Extra Space Storage during the 2nd quarter valued at approximately $200,000.
In related news, EVP James Overturf sold 880 shares of the firm’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $87.19, for a total transaction of $76,727.20. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 2,640 shares of company stock worth $235,849 over the last 90 days. 3.52% of the stock is currently owned by company insiders.
Shares of EXR opened at $90.75 on Friday. Extra Space Storage, Inc. has a 12-month low of $77.53 and a 12-month high of $101.96. The firm has a market cap of $11.42 billion, a P/E ratio of 20.72, a PEG ratio of 3.55 and a beta of 0.07. The company has a current ratio of 0.53, a quick ratio of 0.64 and a debt-to-equity ratio of 1.72.
Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data 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 return on equity of 20.11% and a net margin of 47.29%. The firm had revenue of $266.70 million for the quarter, compared to the consensus estimate of $266.81 million. During the same quarter last year, the business earned $1.13 earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, analysts predict that Extra Space Storage, Inc. will post 4.64 EPS for the current fiscal year.
Several equities analysts have recently commented on EXR shares. ValuEngine cut Extra Space Storage from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Citigroup reduced their target price 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. Robert W. Baird cut Extra Space Storage from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research note on Wednesday, July 18th. BMO Capital Markets set a $93.00 price objective on Extra Space Storage and gave the stock a “hold” rating in a research note on Tuesday, July 31st. Finally, Bank of America raised their price objective on Extra Space Storage from $107.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, July 16th. Ten 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 presently has an average rating of “Hold” and a consensus target price of $95.27.
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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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