Sii Investments Inc. WI increased its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 26.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,328 shares of the real estate investment trust’s stock after buying an additional 1,320 shares during the period. Sii Investments Inc. WI’s holdings in Extra Space Storage were worth $473,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. Creative Planning raised its stake in shares of Extra Space Storage by 13.5% in the first quarter. Creative Planning now owns 5,850 shares of the real estate investment trust’s stock valued at $435,000 after buying an additional 697 shares during the period. Chevy Chase Trust Holdings Inc. raised its stake in shares of Extra Space Storage by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 108,544 shares of the real estate investment trust’s stock valued at $8,074,000 after buying an additional 3,416 shares during the period. State of Wisconsin Investment Board raised its stake in shares of Extra Space Storage by 14.8% in the first quarter. State of Wisconsin Investment Board now owns 122,734 shares of the real estate investment trust’s stock valued at $9,130,000 after buying an additional 15,867 shares during the period. Gulf International Bank UK Ltd raised its stake in shares of Extra Space Storage by 1.7% in the first quarter. Gulf International Bank UK Ltd now owns 38,185 shares of the real estate investment trust’s stock valued at $2,840,000 after buying an additional 625 shares during the period. Finally, Advisor Partners LLC bought a new stake in shares of Extra Space Storage during the first quarter valued at about $235,000.
Extra Space Storage Inc (NYSE EXR) traded up 2.23% during trading on Friday, reaching $78.50. The company’s stock had a trading volume of 1,533,831 shares. The company’s 50-day moving average is $75.25 and its 200-day moving average is $75.45. Extra Space Storage Inc has a 1-year low of $68.09 and a 1-year high of $94.49. The company has a market capitalization of $9.86 billion, a P/E ratio of 27.17 and a beta of 0.38.
Extra Space Storage (NYSE:EXR) last posted its earnings results on Wednesday, April 26th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. Extra Space Storage had a return on equity of 14.92% and a net margin of 36.40%. The business had revenue of $263 million during the quarter, compared to analyst estimates of $233.12 million. During the same quarter last year, the firm earned $0.86 earnings per share. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. Equities analysts anticipate that Extra Space Storage Inc will post $2.66 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be paid a $0.78 dividend. The ex-dividend date is Tuesday, June 13th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.97%. Extra Space Storage’s dividend payout ratio (DPR) is currently 108.33%.
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EXR has been the topic of several research analyst reports. Evercore ISI lowered shares of Extra Space Storage from a “hold” rating to an “underperform” rating in a report on Friday, March 3rd. Zacks Investment Research upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Wednesday, February 22nd. Cantor Fitzgerald restated a “neutral” rating and issued a $76.00 price objective on shares of Extra Space Storage in a report on Wednesday, February 22nd. BMO Capital Markets restated a “hold” rating and issued a $80.00 price objective on shares of Extra Space Storage in a report on Wednesday, March 22nd. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of Extra Space Storage from a “buy” rating to a “conviction-buy” rating and set a $95.00 price objective on the stock in a report on Monday, May 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $88.50.
In other news, EVP James Overturf sold 1,300 shares of the stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $74.90, for a total value of $97,370.00. Following the completion of the sale, the executive vice president now owns 88,875 shares in the company, valued at $6,656,737.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Spencer Kirk sold 20,000 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $75.28, for a total value of $1,505,600.00. Following the completion of the sale, the director now owns 664,430 shares of the company’s stock, valued at approximately $50,018,290.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,900 shares of company stock valued at $4,822,587. Insiders own 3.72% of the company’s stock.
Extra Space Storage Company Profile
Extra Space Storage Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, manages, acquires, develops and redevelops self-storage properties located throughout the United States. The Company operates through three segments: rental operations; tenant reinsurance, and property management, acquisition and development.
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