LS Investment Advisors LLC raised its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 5.6% during the second quarter, Holdings Channel reports. The institutional investor owned 6,273 shares of the real estate investment trust’s stock after buying an additional 330 shares during the period. LS Investment Advisors LLC’s holdings in Extra Space Storage were worth $489,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of EXR. Mn Services Vermogensbeheer B.V. raised its position in shares of Extra Space Storage by 508.6% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 20,443 shares of the real estate investment trust’s stock valued at $1,595,000 after buying an additional 17,084 shares in the last quarter. State of Alaska Department of Revenue increased its position in Extra Space Storage by 92.4% in the second quarter. State of Alaska Department of Revenue now owns 77,241 shares of the real estate investment trust’s stock worth $6,023,000 after buying an additional 37,090 shares during the period. Creative Planning increased its position in Extra Space Storage by 1.1% in the second quarter. Creative Planning now owns 5,912 shares of the real estate investment trust’s stock worth $461,000 after buying an additional 62 shares during the period. Bank of Montreal Can increased its position in Extra Space Storage by 118.1% in the second quarter. Bank of Montreal Can now owns 188,069 shares of the real estate investment trust’s stock worth $14,668,000 after buying an additional 101,839 shares during the period. Finally, Kissinger Financial Services LLC increased its position in Extra Space Storage by 0.9% in the second quarter. Kissinger Financial Services LLC now owns 10,709 shares of the real estate investment trust’s stock worth $836,000 after buying an additional 100 shares during the period.
Shares of Extra Space Storage Inc (NYSE EXR) opened at 77.92 on Friday. Extra Space Storage Inc has a 12-month low of $68.09 and a 12-month high of $87.15. The stock has a 50 day moving average price of $77.30 and a 200 day moving average price of $76.17. The firm has a market cap of $9.79 billion, a P/E ratio of 26.97 and a beta of 0.35.
Extra Space Storage (NYSE:EXR) last issued its earnings results on Wednesday, April 26th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.05. The firm had revenue of $263 million for the quarter, compared to analyst estimates of $233.12 million. Extra Space Storage had a return on equity of 14.92% and a net margin of 36.40%. The business’s revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share. On average, equities analysts expect that Extra Space Storage Inc will post $2.66 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were paid a $0.78 dividend. The ex-dividend date was Tuesday, June 13th. This represents a $3.12 annualized dividend and a dividend yield of 4.00%. Extra Space Storage’s payout ratio is presently 108.33%.
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A number of equities analysts have weighed in on EXR shares. Goldman Sachs Group, Inc. (The) raised Extra Space Storage from a “buy” rating to a “conviction-buy” rating and set a $95.00 price target for the company in a research report on Monday, May 15th. BidaskClub raised Extra Space Storage from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $80.00 price target on shares of Extra Space Storage in a research report on Thursday, April 27th. Bank of America Corporation downgraded Extra Space Storage from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $83.00 to $81.00 in a research report on Thursday, July 20th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $80.00 price target on shares of Extra Space Storage in a research report on Monday, April 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $86.60.
In related news, Director Spencer Kirk sold 20,000 shares of the business’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $75.28, for a total transaction of $1,505,600.00. Following the sale, the director now directly owns 664,430 shares in the company, valued at approximately $50,018,290.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP James Overturf sold 1,300 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $74.90, for a total value of $97,370.00. Following the sale, the executive vice president now owns 88,875 shares in the company, valued at $6,656,737.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,900 shares of company stock worth $4,881,588. Corporate insiders own 3.72% of the company’s stock.
About Extra Space Storage
Extra Space Storage Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, manages, acquires, develops and redevelops self-storage properties located throughout the United States. The Company operates through three segments: rental operations; tenant reinsurance, and property management, acquisition and development.
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