Sawtooth Solutions LLC acquired a new position in shares of Extra Space Storage, Inc. (NYSE:EXR) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,341 shares of the real estate investment trust’s stock, valued at approximately $239,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in EXR. Rehmann Capital Advisory Group raised its holdings in shares of Extra Space Storage by 22.5% in the 4th quarter. Rehmann Capital Advisory Group now owns 566 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 104 shares in the last quarter. Exane Derivatives raised its stake in Extra Space Storage by 3,831.0% during the 1st quarter. Exane Derivatives now owns 1,651 shares of the real estate investment trust’s stock worth $168,000 after acquiring an additional 1,609 shares in the last quarter. Liberty Wealth Management LLC acquired a new stake in Extra Space Storage during the 4th quarter worth $170,000. Raymond James Trust N.A. acquired a new stake in Extra Space Storage during the 1st quarter worth $204,000. Finally, Carderock Capital Management Inc. acquired a new stake in Extra Space Storage during the 1st quarter worth $211,000. Institutional investors and hedge funds own 99.91% of the company’s stock.
Several brokerages recently commented on EXR. Zacks Investment Research lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Wednesday, March 27th. Raymond James lowered shares of Extra Space Storage from an “outperform” rating to a “market perform” rating and set a $99.27 price target on the stock. in a research note on Thursday, March 21st. BMO Capital Markets reiterated a “hold” rating and set a $94.00 price target on shares of Extra Space Storage in a research note on Wednesday, May 1st. Evercore ISI lowered shares of Extra Space Storage from an “in-line” rating to an “underperform” rating in a research note on Monday, April 1st. They noted that the move was a valuation call. Finally, ValuEngine lowered shares of Extra Space Storage from a “buy” rating to a “hold” rating in a research note on Friday, February 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. Extra Space Storage has a consensus rating of “Hold” and an average target price of $97.93.
Extra Space Storage stock traded up $0.15 during midday trading on Wednesday, hitting $109.26. 3,465 shares of the company’s stock were exchanged, compared to its average volume of 857,965. Extra Space Storage, Inc. has a 12-month low of $83.70 and a 12-month high of $110.79. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $13.91 billion, a P/E ratio of 23.42, a PEG ratio of 4.69 and a beta of 0.26.
Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.02. Extra Space Storage had a net margin of 37.12% and a return on equity of 16.56%. The company had revenue of $271.00 million for the quarter, compared to the consensus estimate of $266.01 million. During the same period last year, the firm posted $1.09 EPS. Extra Space Storage’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, equities analysts expect that Extra Space Storage, Inc. will post 4.81 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.90 per share. This is an increase from Extra Space Storage’s previous quarterly dividend of $0.86. This represents a $3.60 annualized dividend and a yield of 3.29%. The ex-dividend date is Thursday, June 13th. Extra Space Storage’s dividend payout ratio (DPR) is presently 73.66%.
In other Extra Space Storage news, CEO Joseph D. Margolis sold 2,500 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $100.05, for a total transaction of $250,125.00. Following the transaction, the chief executive officer now directly owns 113,732 shares of the company’s stock, valued at approximately $11,378,886.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Overturf sold 5,173 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $100.03, for a total transaction of $517,455.19. Following the transaction, the executive vice president now directly owns 73,054 shares in the company, valued at $7,307,591.62. The disclosure for this sale can be found here. Insiders have sold a total of 27,978 shares of company stock worth $2,926,154 over the last three months. 3.29% of the stock is currently owned by insiders.
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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 December 31, 2018, the Company owned and/or operated 1,647 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.2 million units and approximately 125.7 million square feet of rentable space.
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