Extra Space Storage, Inc. (EXR) Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC trimmed its stake in shares of Extra Space Storage, Inc. (NYSE:EXR) by 9.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,492 shares of the real estate investment trust’s stock after selling 3,455 shares during the quarter. Rafferty Asset Management LLC’s holdings in Extra Space Storage were worth $2,902,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Extra Space Storage by 1.2% in the third quarter. BlackRock Inc. now owns 12,901,357 shares of the real estate investment trust’s stock valued at $1,117,776,000 after purchasing an additional 149,753 shares in the last quarter. Cbre Clarion Securities LLC raised its stake in Extra Space Storage by 20.6% in the second quarter. Cbre Clarion Securities LLC now owns 4,585,475 shares of the real estate investment trust’s stock valued at $457,676,000 after purchasing an additional 781,758 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Extra Space Storage by 17.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,409,972 shares of the real estate investment trust’s stock valued at $208,799,000 after acquiring an additional 350,276 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Extra Space Storage by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,936,374 shares of the real estate investment trust’s stock valued at $193,271,000 after acquiring an additional 21,389 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Extra Space Storage by 5.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,597,567 shares of the real estate investment trust’s stock valued at $159,454,000 after acquiring an additional 81,458 shares during the last quarter.

Shares of NYSE EXR opened at $93.09 on Monday. The stock has a market cap of $11.78 billion, a P/E ratio of 21.25, a PEG ratio of 3.66 and a beta of 0.07. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.53 and a current ratio of 0.53. Extra Space Storage, Inc. has a 1-year low of $77.53 and a 1-year high of $101.96.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.19 by ($0.17). The firm had revenue of $266.70 million for the quarter, compared to analysts’ expectations of $266.81 million. Extra Space Storage had a net margin of 47.29% and a return on equity of 20.11%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.13 earnings per share. As a group, equities analysts expect that Extra Space Storage, Inc. will post 4.64 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 14th will be issued a dividend of $0.86 per share. The ex-dividend date is Thursday, December 13th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.70%. Extra Space Storage’s dividend payout ratio is 78.54%.

EXR has been the subject of a number of research analyst reports. ValuEngine upgraded Extra Space Storage from a “hold” rating to a “buy” rating in a research report on Tuesday, October 30th. Citigroup decreased their price objective on Extra Space Storage from $103.00 to $92.00 and set a “hold” rating on the stock in a report on Friday, October 5th. BMO Capital Markets set a $93.00 price objective on Extra Space Storage and gave the company a “hold” rating in a report on Tuesday, July 31st. Finally, SunTrust Banks reissued a “hold” rating and set a $93.00 price objective on shares of Extra Space Storage in a report on Wednesday, August 8th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $96.40.

In related news, EVP James Overturf sold 880 shares of the firm’s stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $86.24, for a total transaction of $75,891.20. Following the transaction, the executive vice president now directly owns 72,097 shares of the company’s stock, valued at approximately $6,217,645.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.52% of the company’s stock.

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Extra Space Storage 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 June 30, 2018, the Company owned and/or operated 1,568 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1,090,000 units and approximately 119 million square feet of rentable space.

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

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