Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Extra Space Storage, Inc. (NYSE:EXR) by 7.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,126 shares of the real estate investment trust’s stock after acquiring an additional 3,899 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Extra Space Storage were worth $5,461,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Perella Weinberg Partners Capital Management LP grew its stake in shares of Extra Space Storage by 5.4% during the second quarter. Perella Weinberg Partners Capital Management LP now owns 18,317 shares of the real estate investment trust’s stock valued at $1,692,000 after acquiring an additional 946 shares in the last quarter. Jackson Wealth Management LLC grew its stake in Extra Space Storage by 6.2% in the second quarter. Jackson Wealth Management LLC now owns 22,307 shares of the real estate investment trust’s stock worth $2,061,000 after purchasing an additional 1,304 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its stake in Extra Space Storage by 13.3% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 23,946 shares of the real estate investment trust’s stock worth $2,212,000 after purchasing an additional 2,808 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Extra Space Storage by 2.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 823,357 shares of the real estate investment trust’s stock worth $76,053,000 after purchasing an additional 18,890 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new position in Extra Space Storage in the second quarter worth about $14,852,000. Institutional investors own 98.28% of the company’s stock.
In related news, CFO P Scott Stubbs sold 8,085 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $105.58, for a total transaction of $853,614.30. Following the sale, the chief financial officer now owns 152,873 shares of the company’s stock, valued at $16,140,331.34. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gwyn Goodson Mcneal sold 5,525 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $104.59, for a total value of $577,859.75. Following the sale, the executive vice president now directly owns 29,033 shares in the company, valued at approximately $3,036,561.47. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,776 shares of company stock worth $1,826,976. Corporate insiders own 2.64% of the company’s stock.
EXR has been the subject of a number of research reports. Wells Fargo & Co decreased their price target on Extra Space Storage from $101.00 to $100.00 and set an “overweight” rating for the company in a research note on Monday, June 22nd. BMO Capital Markets initiated coverage on Extra Space Storage in a research note on Tuesday, July 21st. They issued a “hold” rating and a $106.00 price target for the company. Morgan Stanley lifted their price target on Extra Space Storage from $68.00 to $83.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 8th. Citigroup lifted their price target on Extra Space Storage from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Finally, Raymond James downgraded Extra Space Storage from a “market perform” rating to an “underperform” rating in a research note on Sunday, April 19th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. Extra Space Storage currently has an average rating of “Hold” and an average target price of $104.82.
EXR opened at $103.34 on Friday. The business’s 50 day moving average is $95.78 and its 200-day moving average is $98.28. The stock has a market cap of $13.10 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 15.14 and a beta of 0.18. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.85. Extra Space Storage, Inc. has a twelve month low of $72.70 and a twelve month high of $124.46.
Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.83 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.20 by ($0.37). The business had revenue of $286.70 million for the quarter, compared to the consensus estimate of $284.34 million. Extra Space Storage had a net margin of 34.99% and a return on equity of 16.27%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm posted $1.16 EPS. As a group, analysts forecast that Extra Space Storage, Inc. will post 4.82 EPS for the current year.
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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