Campbell & CO Investment Adviser LLC increased its holdings in Extra Space Storage, Inc. (NYSE:EXR) by 35.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,436 shares of the real estate investment trust’s stock after buying an additional 900 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Extra Space Storage were worth $368,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Bessemer Group Inc. increased its stake in Extra Space Storage by 6,309.8% during the 2nd quarter. Bessemer Group Inc. now owns 11,730 shares of the real estate investment trust’s stock valued at $1,083,000 after buying an additional 11,547 shares during the period. Capital World Investors bought a new stake in Extra Space Storage during the first quarter worth approximately $106,201,000. The Manufacturers Life Insurance Company lifted its position in Extra Space Storage by 14.8% in the first quarter. The Manufacturers Life Insurance Company now owns 139,245 shares of the real estate investment trust’s stock worth $13,335,000 after purchasing an additional 17,932 shares during the period. US Bancorp DE boosted its stake in Extra Space Storage by 15.4% during the 2nd quarter. US Bancorp DE now owns 34,515 shares of the real estate investment trust’s stock valued at $3,189,000 after purchasing an additional 4,612 shares in the last quarter. Finally, Advisor Group Holdings Inc. bought a new position in Extra Space Storage during the 1st quarter valued at $3,381,000. Hedge funds and other institutional investors own 98.88% of the company’s stock.
Shares of NYSE:EXR opened at $114.63 on Friday. The firm has a 50 day simple moving average of $109.63 and a 200 day simple moving average of $99.39. Extra Space Storage, Inc. has a 52 week low of $72.70 and a 52 week high of $116.52. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market cap of $14.80 billion, a PE ratio of 34.53, a price-to-earnings-growth ratio of 19.38 and a beta of 0.23.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 3.14%. The ex-dividend date was Monday, September 14th. Extra Space Storage’s payout ratio is 73.77%.
In related news, EVP Gwyn Goodson Mcneal sold 2,400 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $107.72, for a total transaction of $258,528.00. Following the transaction, the executive vice president now directly owns 23,733 shares of the company’s stock, valued at $2,556,518.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO P Scott Stubbs sold 7,100 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $106.67, for a total transaction of $757,357.00. Following the completion of the transaction, the chief financial officer now owns 151,888 shares in the company, valued at approximately $16,201,892.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 108,505 shares of company stock valued at $11,743,887. Company insiders own 2.64% of the company’s stock.
Several brokerages recently weighed in on EXR. KeyCorp raised Extra Space Storage from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, September 1st. Citigroup lowered shares of Extra Space Storage from a “buy” rating to a “neutral” rating and raised their price objective for the company from $105.00 to $112.00 in a research report on Monday, September 21st. Goldman Sachs Group began coverage on shares of Extra Space Storage in a report on Friday, June 26th. They issued a “buy” rating and a $111.00 target price on the stock. Jefferies Financial Group raised shares of Extra Space Storage from a “hold” rating to a “buy” rating and increased their target price for the company from $121.00 to $135.00 in a research note on Tuesday, October 13th. Finally, Wells Fargo & Company decreased their price target on shares of Extra Space Storage from $101.00 to $100.00 and set an “overweight” rating on the stock in a research report on Monday, June 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $106.60.
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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