DekaBank Deutsche Girozentrale lifted its stake in Extra Space Storage, Inc. (NYSE:EXR) by 590.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 46,311 shares of the real estate investment trust’s stock after purchasing an additional 39,600 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Extra Space Storage were worth $4,311,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Rehmann Capital Advisory Group increased its holdings in shares of Extra Space Storage by 22.5% in the fourth quarter. Rehmann Capital Advisory Group now owns 566 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 104 shares during the last quarter. Exane Derivatives increased its holdings in shares of Extra Space Storage by 3,831.0% in the first quarter. Exane Derivatives now owns 1,651 shares of the real estate investment trust’s stock valued at $168,000 after purchasing an additional 1,609 shares during the last quarter. Liberty Wealth Management LLC acquired a new stake in shares of Extra Space Storage in the fourth quarter valued at approximately $170,000. Raymond James Trust N.A. acquired a new stake in shares of Extra Space Storage in the first quarter valued at approximately $204,000. Finally, Carderock Capital Management Inc. acquired a new stake in shares of Extra Space Storage in the first quarter valued at approximately $211,000. 99.91% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO P Scott Stubbs sold 15,600 shares of Extra Space Storage stock in a transaction on Monday, March 11th. The stock was sold at an average price of $98.58, for a total value of $1,537,848.00. Following the completion of the sale, the chief financial officer now directly owns 160,612 shares of the company’s stock, valued at $15,833,130.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP James Overturf sold 880 shares of Extra Space Storage stock in a transaction on Friday, May 24th. The shares were sold at an average price of $106.85, for a total value of $94,028.00. Following the completion of the sale, the executive vice president now directly owns 68,729 shares of the company’s stock, valued at $7,343,693.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,578 shares of company stock valued at $4,464,002. 3.29% of the stock is owned by insiders.
Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.02. The company had revenue of $271.00 million during the quarter, compared to analysts’ expectations of $266.01 million. Extra Space Storage had a return on equity of 16.56% and a net margin of 37.12%. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 earnings per share. As a group, equities research analysts anticipate that Extra Space Storage, Inc. will post 4.81 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.90 per share. This is a boost from Extra Space Storage’s previous quarterly dividend of $0.86. The ex-dividend date is Thursday, June 13th. This represents a $3.60 annualized dividend and a yield of 3.38%. Extra Space Storage’s dividend payout ratio (DPR) is 73.66%.
Several equities research analysts recently commented on EXR shares. ValuEngine raised Extra Space Storage from a “hold” rating to a “buy” rating in a report on Wednesday, March 6th. BMO Capital Markets reaffirmed a “hold” rating and issued a $94.00 price target on shares of Extra Space Storage in a report on Wednesday, May 1st. Zacks Investment Research raised Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Raymond James cut Extra Space Storage from an “outperform” rating to a “market perform” rating and set a $99.27 target price for the company. in a research note on Thursday, March 21st. Finally, Evercore ISI cut 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $97.93.
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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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