Sand Hill Global Advisors LLC reduced its position in shares of Extra Space Storage Inc (NYSE:EXR) by 28.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,443 shares of the real estate investment trust’s stock after selling 2,555 shares during the quarter. Sand Hill Global Advisors LLC’s holdings in Extra Space Storage were worth $515,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC bought a new stake in Extra Space Storage during the 3rd quarter valued at about $131,000. Federated Investors Inc. PA bought a new stake in Extra Space Storage during the 2nd quarter valued at about $218,000. Donaldson Capital Management LLC bought a new stake in Extra Space Storage during the 2nd quarter valued at about $231,000. Mackenzie Financial Corp bought a new stake in Extra Space Storage during the 3rd quarter valued at about $237,000. Finally, Pacer Advisors Inc. increased its stake in Extra Space Storage by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 3,042 shares of the real estate investment trust’s stock valued at $237,000 after purchasing an additional 232 shares in the last quarter.
Extra Space Storage Inc (EXR) traded down $0.19 on Friday, hitting $85.25. 900,600 shares of the company were exchanged, compared to its average volume of 1,012,180. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $10,766.11, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 3.29 and a beta of 0.39. Extra Space Storage Inc has a one year low of $71.34 and a one year high of $88.05.
Extra Space Storage declared that its Board of Directors has authorized a stock repurchase plan on Monday, November 13th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date is Thursday, December 14th. Extra Space Storage’s payout ratio is 114.71%.
In other Extra Space Storage news, SVP Grace Kunde sold 350 shares of Extra Space Storage stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $87.65, for a total transaction of $30,677.50. Following the transaction, the senior vice president now owns 11,209 shares of the company’s stock, valued at $982,468.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Spencer Kirk sold 20,000 shares of Extra Space Storage stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $79.64, for a total transaction of $1,592,800.00. The disclosure for this sale can be found here. In the last three months, insiders sold 64,250 shares of company stock worth $5,276,770. 3.72% of the stock is currently owned by insiders.
A number of analysts have weighed in on the stock. Zacks Investment Research lowered shares of Extra Space Storage from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. BidaskClub lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. KeyCorp reaffirmed a “hold” rating on shares of Extra Space Storage in a report on Wednesday, October 11th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $77.00 price target on shares of Extra Space Storage in a report on Friday, September 1st. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $92.00 price target on shares of Extra Space Storage in a report on Wednesday, November 29th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Extra Space Storage presently has a consensus rating of “Hold” and a consensus price target of $86.73.
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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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