DekaBank Deutsche Girozentrale increased its stake in Extra Space Storage Inc. (NYSE:EXR – Get Rating) by 36.6% in the fourth quarter, according to its latest filing with the SEC. The institutional investor owned 103,983 shares of Real Estate Investment Trust after purchasing an additional 27,888 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.08% of Extra Space Storage worth $23,391,000 at the end of the last reporting period.
Other institutional investors and hedge funds have also recently changed their positions in the company. Profund Advisors LLC increased its position in Extra Space Storage by 148.1% in the third quarter. Profund Advisors LLC now owns 14,156 shares of the Real Estate Investment Trust worth $2,378,000 after purchasing an additional 8,450 shares last quarter. Trek Financial LLC acquired a new interest in Extra Space Storage for approximately $357,000 during the fourth quarter. Duality Advisers LP acquired a new interest in Extra Space Storage valued at approximately $6,755,000 during the third quarter. Teacher Retirement System of Texas increased its position in Extra Space Storage by 180.7% in the third quarter. Teacher Retirement System of Texas now owns 235,779 shares of the Real Estate Investment Trust valued at $39,609,000 after purchasing an additional 151,783 shares last quarter. Finally, AE Wealth Management LLC increased its position in Extra Space Storage by 4.9% in the third quarter. AE Wealth Management LLC now owns 9,315 shares of the Real Estate Investment Trust worth $1,565,000 after purchasing an additional 437 shares last quarter. 93.87% of the shares are currently owned by hedge funds and other institutional investors.
EXR has been the subject of several recent research reports. JPMorgan Chase & Co. increased its price target on Extra Space Storage shares to $224.00 from $220.00 and gave the stock a “neutral” rating in a research report on Monday, April 4. KeyCorp increased its price target for Extra Space Storage shares to $224.00 from $209.00 and gave the stock an overweight rating in a research report on Monday, December. They determined that the move was an evaluation call. Morgan Stanley has lowered its target price on Extra Space Storage shares to $172.00 from $175.00 and gave the company an underweight rating in a research note on Wednesday, March 2nd. Jefferies Financial Group downgraded the shares of Extra Space Storage from a “buy” rating to a “hold” rating in a research note on Monday, January 10, raising its price target on the stock from $229.00 $223.00 lowered. Finally, on Thursday, March 31st, StockNews.com began coverage of Extra Space Storage shares in a research note. They gave the company a “hold” rating. One equities research analyst has assigned a sell rating to the stock, eight has given a hold rating and eight has given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target of $199.13.
Extra Space Storage stock rose $0.35 on Friday to hit $213.71. The company’s shares had a trading volume of 447,492 shares compared to an average volume of 738,463. The company has a market cap of $28.69 billion, a P/E of 34.58, a price-to-earnings-to-growth ratio of 3.71 and a beta of 0.41. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt to equity ratio of 1.57. The company has a 50-day moving average price of $197.72 and a 200-day moving average price of $198.11. Extra Space Storage Inc. has a yearly low of $137.31 and a yearly high of $228.84.
Extra Space Storage (NYSE:EXR – Get Rating) last announced its earnings results on Wednesday, February 23rd. Real Estate Investment Trust reported earnings per share of $1.91 for the quarter, beating Thomson Reuters consensus estimate of $1.40 by $0.51. Extra Space Storage had a net margin of 54.24% and a return on equity of 24.72%. The company had revenue of $364.50 million for the quarter, compared to analyst estimates of $360.16 million. In the same quarter last year, the company earned $1.48 per share. The company’s quarterly revenue increased 21.1% compared to the same quarter last year. Analysts expect Extra Space Storage Inc. to post 7.92 EPS for the year to date.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 31st. A dividend of $1.50 was paid to shareholders of record on Tuesday, March 15th. This is a positive change from Extra Space Storage’s previous quarterly dividend of $1.25. The ex-dividend date was Monday March 14th. This equates to an annualized dividend of $6.00 and a dividend yield of 2.81%. Extra Space Storage’s payout ratio is currently 97.09%.
In other Extra Space Storage news, CEO Joseph D. Margolis sold 5,000 shares of the stock in a transaction on Friday, April 1st. The shares were sold at an average price of $208.34 for a total transaction of $1,041,700.00. The sale was disclosed in a document filed with the SEC, which can be accessed at this link. In addition, EVP Gwyn Goodson Mcneal sold 3,125 shares of the company’s shares in a transaction on Wednesday, March 2nd. The shares sold at an average price of $192.00 for a total transaction of $600,000.00. The disclosure for this sale can be found here. Over the past ninety days, insiders sold 11,625 shares of the company’s stock valued at $2,314,085. 2.64% of the shares are owned by insiders.
About additional storage space (received rating)
Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-governed and self-administered REIT and a member of the S&P 500. As of September 30, 2020, the Company owned and/or operated 1,906 self-storage stores in 40 states, Washington, DC and Puerto Rico. The Company’s stores have approximately 1.4 million units and approximately 147.5 million leasable square feet.
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