Extra Space Storage (NYSE:EXR) Hits New 52-Week High at $121.42

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Extra Space Storage, Inc. (NYSE:EXR) shares reached a new 52-week high during trading on Monday . The company traded as high as $121.42 and last traded at $121.24, with a volume of 19774 shares trading hands. The stock had previously closed at $120.62.

A number of research firms have recently commented on EXR. Stifel Nicolaus began coverage on Extra Space Storage in a research note on Monday. They issued a “buy” rating and a $131.00 target price for the company. Zacks Investment Research upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. Finally, BMO Capital Markets restated a “hold” rating and issued a $94.00 target price on shares of Extra Space Storage in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $105.25.

The stock has a 50 day moving average price of $113.47 and a 200 day moving average price of $105.31. The company has a market cap of $15.50 billion, a PE ratio of 25.86, a PEG ratio of 5.40 and a beta of 0.22. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 1.78.

In other Extra Space Storage news, CEO Joseph D. Margolis sold 2,500 shares of Extra Space Storage stock in a transaction on Monday, July 1st. The stock was sold at an average price of $105.01, for a total transaction of $262,525.00. Following the completion of the transaction, the chief executive officer now owns 111,232 shares in the company, valued at $11,680,472.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Spencer Kirk sold 248,103 shares of Extra Space Storage stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $121.33, for a total value of $30,102,336.99. Following the completion of the sale, the director now directly owns 153,069 shares of the company’s stock, valued at approximately $18,571,861.77. The disclosure for this sale can be found here. Insiders have sold 256,346 shares of company stock valued at $31,027,811 in the last quarter. 3.29% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of EXR. Vanguard Group Inc. grew its holdings in shares of Extra Space Storage by 0.4% in the second quarter. Vanguard Group Inc. now owns 20,911,092 shares of the real estate investment trust’s stock worth $2,218,667,000 after acquiring an additional 93,502 shares during the period. BlackRock Inc. grew its holdings in shares of Extra Space Storage by 6.1% in the second quarter. BlackRock Inc. now owns 14,115,936 shares of the real estate investment trust’s stock worth $1,497,702,000 after acquiring an additional 813,228 shares during the period. Cohen & Steers Inc. grew its holdings in shares of Extra Space Storage by 9.5% in the second quarter. Cohen & Steers Inc. now owns 10,717,434 shares of the real estate investment trust’s stock worth $1,137,120,000 after acquiring an additional 934,146 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Extra Space Storage by 8.8% in the first quarter. Principal Financial Group Inc. now owns 3,984,402 shares of the real estate investment trust’s stock worth $406,050,000 after acquiring an additional 321,688 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Extra Space Storage by 10.3% in the second quarter. Daiwa Securities Group Inc. now owns 3,734,660 shares of the real estate investment trust’s stock worth $396,247,000 after acquiring an additional 348,072 shares during the period. 98.59% of the stock is owned by institutional investors and hedge funds.

About Extra Space Storage (NYSE:EXR)

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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