BNP Paribas Arbitrage SA Purchases 21,942 Shares of Extra Space Storage Inc (EXR)

BNP Paribas Arbitrage SA lifted its position in Extra Space Storage Inc (NYSE:EXR) by 23.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,685 shares of the real estate investment trust’s stock after acquiring an additional 21,942 shares during the quarter. BNP Paribas Arbitrage SA owned 0.09% of Extra Space Storage worth $9,166,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Extra Space Storage by 0.8% in the second quarter. Vanguard Group Inc. now owns 21,666,355 shares of the real estate investment trust’s stock valued at $1,689,976,000 after acquiring an additional 171,897 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Extra Space Storage by 3.0% in the second quarter. BlackRock Inc. now owns 12,091,401 shares of the real estate investment trust’s stock valued at $943,130,000 after acquiring an additional 348,554 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Extra Space Storage by 56.2% in the second quarter. Capital Research Global Investors now owns 5,161,305 shares of the real estate investment trust’s stock valued at $402,582,000 after acquiring an additional 1,857,594 shares in the last quarter. Cbre Clarion Securities LLC bought a new stake in shares of Extra Space Storage in the second quarter valued at about $304,239,000. Finally, Northern Trust Corp raised its holdings in shares of Extra Space Storage by 3.9% in the second quarter. Northern Trust Corp now owns 1,919,978 shares of the real estate investment trust’s stock valued at $149,759,000 after acquiring an additional 71,326 shares in the last quarter.

Several analysts recently weighed in on EXR shares. KeyCorp restated a “buy” rating and issued a $82.00 price objective on shares of Extra Space Storage in a report on Friday, August 25th. Zacks Investment Research upgraded Extra Space Storage from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a report on Wednesday, October 11th. BidaskClub upgraded Extra Space Storage from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Cantor Fitzgerald reiterated a “hold” rating and issued a $77.00 target price on shares of Extra Space Storage in a research note on Friday, September 1st. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $80.00 target price on shares of Extra Space Storage in a research note on Tuesday, October 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Extra Space Storage presently has an average rating of “Hold” and an average price target of $83.44.

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In other news, EVP James Overturf sold 1,300 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $75.50, for a total transaction of $98,150.00. Following the sale, the executive vice president now owns 86,275 shares in the company, valued at $6,513,762.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Spencer Kirk sold 20,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $79.64, for a total value of $1,592,800.00. The disclosure for this sale can be found here. Insiders have sold 65,200 shares of company stock worth $5,201,842 in the last 90 days. Insiders own 3.72% of the company’s stock.

Shares of Extra Space Storage Inc (EXR) opened at $85.67 on Thursday. Extra Space Storage Inc has a 52 week low of $68.09 and a 52 week high of $87.31. The firm has a market capitalization of $10,879.51, a PE ratio of 20.17, a PEG ratio of 3.33 and a beta of 0.38. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.68.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.03. Extra Space Storage had a return on equity of 14.41% and a net margin of 33.21%. The business had revenue of $284.16 million for the quarter, compared to analyst estimates of $246.85 million. During the same quarter in the previous year, the firm earned $1.02 earnings per share. The company’s revenue was up 10.5% on a year-over-year basis. research analysts forecast that Extra Space Storage Inc will post 4.33 EPS for the current fiscal year.

Extra Space Storage announced that its Board of Directors has authorized a share buyback program on Monday, November 13th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.78 per share. The ex-dividend date is Thursday, December 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.64%. Extra Space Storage’s payout ratio is 114.71%.

Extra Space Storage Profile

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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Institutional Ownership by Quarter for Extra Space Storage (NYSE:EXR)

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