State of Alaska Department of Revenue Boosts Stake in Extra Space Storage, Inc. (NYSE:EXR)

State of Alaska Department of Revenue lifted its stake in Extra Space Storage, Inc. (NYSE:EXR) by 12.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,626 shares of the real estate investment trust’s stock after buying an additional 7,611 shares during the period. State of Alaska Department of Revenue owned approximately 0.05% of Extra Space Storage worth $7,386,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. 6 Meridian boosted its position in shares of Extra Space Storage by 1.8% in the second quarter. 6 Meridian now owns 5,250 shares of the real estate investment trust’s stock worth $557,000 after buying an additional 94 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of Extra Space Storage by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 6,700 shares of the real estate investment trust’s stock worth $683,000 after buying an additional 100 shares during the period. Stifel Financial Corp boosted its position in shares of Extra Space Storage by 1.0% in the fourth quarter. Stifel Financial Corp now owns 15,356 shares of the real estate investment trust’s stock worth $1,393,000 after buying an additional 152 shares during the period. Avitas Wealth Management LLC boosted its position in shares of Extra Space Storage by 1.1% in the first quarter. Avitas Wealth Management LLC now owns 14,723 shares of the real estate investment trust’s stock worth $1,500,000 after buying an additional 158 shares during the period. Finally, Wealthfront Advisers LLC boosted its position in shares of Extra Space Storage by 0.9% in the first quarter. Wealthfront Advisers LLC now owns 17,768 shares of the real estate investment trust’s stock worth $1,811,000 after buying an additional 163 shares during the period. 99.68% of the stock is owned by institutional investors.

In other Extra Space Storage news, EVP James Overturf sold 4,562 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $106.81, for a total transaction of $487,267.22. Following the sale, the executive vice president now owns 70,306 shares in the company, valued at $7,509,383.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Grace Kunde sold 623 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $106.23, for a total value of $66,181.29. Following the sale, the senior vice president now owns 8,940 shares in the company, valued at approximately $949,696.20. The disclosure for this sale can be found here. Insiders have sold 22,805 shares of company stock worth $2,438,849 in the last 90 days. 3.29% of the stock is currently owned by insiders.

EXR has been the subject of several analyst reports. BMO Capital Markets reaffirmed a “hold” rating and issued a $94.00 target price on shares of Extra Space Storage in a research report on Wednesday, May 1st. Zacks Investment Research upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Extra Space Storage has a consensus rating of “Hold” and a consensus target price of $97.65.

Shares of NYSE:EXR traded up $0.79 during trading on Wednesday, hitting $112.69. The company’s stock had a trading volume of 46,222 shares, compared to its average volume of 559,405. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.80. Extra Space Storage, Inc. has a fifty-two week low of $83.70 and a fifty-two week high of $112.82. The firm’s 50-day simple moving average is $108.84. The stock has a market capitalization of $14.45 billion, a P/E ratio of 24.13, a PEG ratio of 5.18 and a beta of 0.23.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.02. Extra Space Storage had a return on equity of 16.56% and a net margin of 37.12%. The business had revenue of $271.00 million for the quarter, compared to analysts’ expectations of $266.01 million. During the same quarter in the previous year, the firm posted $1.09 earnings per share. The company’s revenue was up 9.3% compared to the same quarter last year. Equities research analysts forecast that Extra Space Storage, Inc. will post 4.82 EPS for the current year.

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

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