Skandinaviska Enskilda Banken AB publ lowered its stake in Extra Space Storage Inc (NYSE:EXR) by 0.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,161 shares of the real estate investment trust’s stock after selling 108 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Extra Space Storage were worth $1,202,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Achmea Investment Management B.V. bought a new position in Extra Space Storage during the first quarter valued at about $216,000. Ranger Global Real Estate Advisors LLC bought a new position in Extra Space Storage during the first quarter valued at about $12,023,000. Bank of Nova Scotia increased its position in Extra Space Storage by 951.9% in the first quarter. Bank of Nova Scotia now owns 28,822 shares of the real estate investment trust’s stock valued at $2,144,000 after buying an additional 26,082 shares during the last quarter. Colony Group LLC increased its position in Extra Space Storage by 5.3% in the first quarter. Colony Group LLC now owns 22,885 shares of the real estate investment trust’s stock valued at $1,702,000 after buying an additional 1,150 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in Extra Space Storage by 6.4% in the first quarter. HighTower Advisors LLC now owns 3,906 shares of the real estate investment trust’s stock valued at $288,000 after buying an additional 235 shares during the last quarter.
Shares of Extra Space Storage Inc (NYSE:EXR) opened at 76.53 on Monday. Extra Space Storage Inc has a 52 week low of $68.09 and a 52 week high of $94.49. The company has a market capitalization of $9.61 billion, a PE ratio of 26.49 and a beta of 0.35. The firm’s 50-day moving average is $76.45 and its 200 day moving average is $75.91.
Extra Space Storage (NYSE:EXR) last released its earnings results on Wednesday, April 26th. The real estate investment trust reported $1.03 EPS for the quarter, beating the consensus estimate of $0.98 by $0.05. Extra Space Storage had a net margin of 36.40% and a return on equity of 14.92%. The firm had revenue of $263 million for the quarter, compared to analyst estimates of $233.12 million. During the same period last year, the firm earned $0.86 EPS. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. On average, analysts anticipate that Extra Space Storage Inc will post $2.66 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend was Tuesday, June 13th. Extra Space Storage’s dividend payout ratio is currently 108.33%.
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Several research firms have recently issued reports on EXR. BidaskClub upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Cantor Fitzgerald reissued a “neutral” rating and issued a $77.00 target price on shares of Extra Space Storage in a research note on Monday, May 22nd. Goldman Sachs Group, Inc. (The) raised shares of Extra Space Storage from a “buy” rating to a “conviction-buy” rating and set a $95.00 target price on the stock in a research note on Monday, May 15th. Citigroup Inc. reissued a “neutral” rating on shares of Extra Space Storage in a research note on Thursday, May 11th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $80.00 target price on shares of Extra Space Storage in a research note on Thursday, April 27th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Extra Space Storage currently has an average rating of “Hold” and an average price target of $88.50.
In other Extra Space Storage news, Director Spencer Kirk sold 20,000 shares of the firm’s 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 transaction, the director now directly owns 664,430 shares of the company’s stock, valued at approximately $50,018,290.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP James Overturf sold 1,300 shares of the firm’s stock in a transaction dated Friday, April 21st. The shares were sold at an average price of $80.50, for a total transaction of $104,650.00. Following the completion of the transaction, the executive vice president now directly owns 91,475 shares in the company, valued at $7,363,737.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,900 shares of company stock worth $4,885,787. 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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