IFM Investors Pty Ltd boosted its holdings in shares of Extra Space Storage, Inc. (NYSE:EXR) by 18.6% during the first quarter, HoldingsChannel reports. The firm owned 9,372 shares of the real estate investment trust’s stock after acquiring an additional 1,467 shares during the period. IFM Investors Pty Ltd’s holdings in Extra Space Storage were worth $955,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Extra Space Storage by 0.9% during the third quarter. Vanguard Group Inc. now owns 20,515,679 shares of the real estate investment trust’s stock valued at $1,777,479,000 after purchasing an additional 175,852 shares in the last quarter. Vanguard Group Inc raised its stake in Extra Space Storage by 0.9% during the third quarter. Vanguard Group Inc now owns 20,515,679 shares of the real estate investment trust’s stock valued at $1,777,479,000 after purchasing an additional 175,852 shares in the last quarter. BlackRock Inc. raised its stake in Extra Space Storage by 2.1% during the fourth quarter. BlackRock Inc. now owns 13,166,837 shares of the real estate investment trust’s stock valued at $1,191,335,000 after purchasing an additional 265,480 shares in the last quarter. Cohen & Steers Inc. raised its stake in Extra Space Storage by 2.3% during the fourth quarter. Cohen & Steers Inc. now owns 8,158,274 shares of the real estate investment trust’s stock valued at $738,161,000 after purchasing an additional 185,762 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Extra Space Storage by 18.5% during the fourth quarter. Principal Financial Group Inc. now owns 3,662,714 shares of the real estate investment trust’s stock valued at $331,403,000 after purchasing an additional 571,706 shares in the last quarter. 98.79% of the stock is currently owned by institutional investors.
Shares of EXR opened at $99.24 on Tuesday. Extra Space Storage, Inc. has a twelve month low of $83.70 and a twelve month high of $102.78. The firm has a market capitalization of $12.62 billion, a PE ratio of 21.25, a PEG ratio of 4.32 and a beta of 0.30. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.73.
Extra Space Storage (NYSE:EXR) last announced its earnings results on Wednesday, February 20th. The real estate investment trust reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.02. Extra Space Storage had a net margin of 37.36% and a return on equity of 16.40%. The business had revenue of $266.60 million for the quarter, compared to the consensus estimate of $265.39 million. During the same quarter in the prior year, the firm posted $1.17 earnings per share. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities research analysts predict that Extra Space Storage, Inc. will post 4.8 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 3.47%. The ex-dividend date was Thursday, March 14th. Extra Space Storage’s dividend payout ratio is currently 73.66%.
A number of research firms recently issued reports on EXR. Zacks Investment Research raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Evercore ISI downgraded shares of Extra Space Storage from an “in-line” rating to an “underperform” rating in a research note on Monday, April 1st. They noted that the move was a valuation call. Raymond James downgraded shares of Extra Space Storage from an “outperform” rating to a “market perform” rating and set a $99.27 target price on the stock. in a research note on Thursday, March 21st. Finally, ValuEngine raised shares of Extra Space Storage from a “hold” rating to a “buy” rating in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $97.83.
In other news, EVP James Overturf sold 880 shares of the company’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $99.12, for a total value of $87,225.60. Following the transaction, the executive vice president now directly owns 68,577 shares in the company, valued at $6,797,352.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Joseph D. Margolis sold 2,500 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $100.05, for a total transaction of $250,125.00. Following the completion of the transaction, the chief executive officer now owns 113,732 shares in the company, valued at $11,378,886.60. The disclosure for this sale can be found here. In the last three months, insiders sold 130,694 shares of company stock worth $12,525,301. Insiders own 3.52% of the company’s stock.
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Extra Space Storage Company Profile
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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