Rakuten Investment Management Inc. Buys 3,370 Shares of Extra Space Storage Inc $EXR

Rakuten Investment Management Inc. boosted its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 9.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,920 shares of the real estate investment trust’s stock after buying an additional 3,370 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Extra Space Storage were worth $5,062,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EXR. Raiffeisen Bank International AG lifted its holdings in shares of Extra Space Storage by 82.4% in the 2nd quarter. Raiffeisen Bank International AG now owns 186 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 84 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in Extra Space Storage in the 1st quarter valued at approximately $30,000. Security National Bank of SO Dak acquired a new stake in Extra Space Storage in the 2nd quarter valued at approximately $34,000. CoreCap Advisors LLC raised its position in Extra Space Storage by 975.0% in the second quarter. CoreCap Advisors LLC now owns 258 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 234 shares during the period. Finally, Ancora Advisors LLC purchased a new stake in Extra Space Storage in the second quarter valued at approximately $43,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Stock Down 0.6%

Extra Space Storage stock traded down $0.95 during mid-day trading on Friday, reaching $159.16. 1,264,063 shares of the company’s stock were exchanged, compared to its average volume of 1,356,646. The company has a quick ratio of 1.56, a current ratio of 0.25 and a debt-to-equity ratio of 0.97. Extra Space Storage Inc has a twelve month low of $125.71 and a twelve month high of $163.18. The company has a market cap of $33.22 billion, a P/E ratio of 32.35, a P/E/G ratio of 4.56 and a beta of 1.07. The company has a fifty day moving average of $139.90 and a 200-day moving average of $142.68.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Tuesday, October 27th. The real estate investment trust reported $1.17 EPS for the quarter, missing the consensus estimate of $2.10 by ($0.93). Extra Space Storage had a return on equity of 7.36% and a net margin of 29.90%. The business had revenue of $889.79 million during the quarter, compared to analyst estimates of $886.61 million. During the same quarter last year, the firm earned $2.08 EPS. The business’s revenue was up 3.6% on a year-over-year basis. Sell-side analysts expect that Extra Space Storage Inc will post 8.46 EPS for the current year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Tuesday, December 15th. Extra Space Storage’s payout ratio is presently 131.71%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EXR. Weiss Ratings upgraded Extra Space Storage from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $160.00 price objective (up from $152.00) on shares of Extra Space Storage in a research note on Thursday, July 30th. Scotiabank increased their target price on Extra Space Storage from $157.00 to $158.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 18th. Wells Fargo & Company lowered their target price on Extra Space Storage from $158.00 to $157.00 and set an “overweight” rating for the company in a report on Tuesday, September 1st. Finally, Barclays lifted their target price on Extra Space Storage from $170.00 to $172.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Eight investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $156.75.

Extra Space Storage Company Profile