LS Investment Advisors LLC increased its position in shares of Extra Space Storage Inc (NYSE:EXR) by 5.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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.
A number of other large investors also recently modified their holdings of EXR. BlackRock Inc. increased its stake in shares of Extra Space Storage by 2,356.1% in the first quarter. BlackRock Inc. now owns 11,742,847 shares of the real estate investment trust’s stock worth $873,550,000 after buying an additional 11,264,744 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Extra Space Storage by 11.2% in the first quarter. Daiwa Securities Group Inc. now owns 5,327,021 shares of the real estate investment trust’s stock worth $396,278,000 after buying an additional 536,392 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Extra Space Storage by 2.0% in the first quarter. Vanguard Group Inc. now owns 21,494,458 shares of the real estate investment trust’s stock worth $1,598,973,000 after buying an additional 411,415 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Extra Space Storage by 184.5% in the first quarter. American Century Companies Inc. now owns 297,545 shares of the real estate investment trust’s stock worth $22,134,000 after buying an additional 192,948 shares during the last quarter. Finally, Ranger Global Real Estate Advisors LLC bought a new stake in shares of Extra Space Storage during the first quarter worth $12,023,000.
Shares of Extra Space Storage Inc (NYSE:EXR) opened at 75.87 on Thursday. Extra Space Storage Inc has a 52-week low of $68.09 and a 52-week high of $82.83. The stock has a market capitalization of $9.56 billion, a PE ratio of 25.93 and a beta of 0.34. The stock has a 50 day moving average price of $77.38 and a 200-day moving average price of $76.50.
Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.04. Extra Space Storage had a return on equity of 15.20% and a net margin of 36.35%. The firm had revenue of $276 million during the quarter, compared to the consensus estimate of $239.89 million. During the same period last year, the business posted $0.94 EPS. Extra Space Storage’s quarterly revenue was up 13.0% on a year-over-year basis. On average, equities research analysts anticipate that Extra Space Storage Inc will post $2.69 EPS for the current fiscal year.
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Several equities research analysts have weighed in on the company. Citigroup Inc. reissued a “neutral” rating on shares of Extra Space Storage in a report on Thursday, May 11th. Cantor Fitzgerald reissued a “neutral” rating and issued a $77.00 price target on shares of Extra Space Storage in a report on Monday, May 22nd. BidaskClub downgraded Extra Space Storage from a “buy” rating to a “hold” rating in a report on Sunday, July 30th. Bank of America Corporation downgraded Extra Space Storage from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $83.00 to $81.00 in a report on Thursday, July 20th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $80.00 price target on shares of Extra Space Storage in a report on Thursday, April 27th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $83.13.
In other Extra Space Storage news, Director Spencer Kirk sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $79.09, for a total transaction of $1,581,800.00. Following the completion of the transaction, the director now owns 665,748 shares of the company’s stock, valued at $52,654,009.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Overturf sold 1,300 shares of the firm’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $77.27, for a total value of $100,451.00. Following the transaction, the executive vice president now directly owns 87,575 shares of the company’s stock, valued at approximately $6,766,920.25. The disclosure for this sale can be found here. Insiders have sold 62,600 shares of company stock valued at $4,860,821 in the last three months. 3.72% of the stock is currently owned by company insiders.
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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