State of Alaska Department of Revenue raised its position in shares of Extra Space Storage, Inc. (NYSE:EXR) by 42.4% during the first quarter, Holdings Channel reports. The firm owned 40,151 shares of the real estate investment trust’s stock after buying an additional 11,961 shares during the period. State of Alaska Department of Revenue’s holdings in Extra Space Storage were worth $2,986,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Security Capital Research & Management Inc. acquired a new position in shares of Extra Space Storage during the third quarter worth about $84,210,000. Norges Bank acquired a new position in shares of Extra Space Storage during the fourth quarter worth about $55,141,000. FMR LLC increased its position in shares of Extra Space Storage by 5.2% in the fourth quarter. FMR LLC now owns 14,309,328 shares of the real estate investment trust’s stock worth $1,105,253,000 after buying an additional 713,606 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Extra Space Storage during the fourth quarter worth about $33,298,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Extra Space Storage by 67.0% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 476,578 shares of the real estate investment trust’s stock worth $37,845,000 after buying an additional 191,131 shares during the period. Hedge funds and other institutional investors own 99.92% of the company’s stock.
Extra Space Storage, Inc. (NYSE:EXR) traded up 0.02% on Friday, hitting $80.64. The stock had a trading volume of 713,848 shares. Extra Space Storage, Inc. has a 52 week low of $68.09 and a 52 week high of $94.81. The company has a market capitalization of $10.13 billion, a price-to-earnings ratio of 27.74 and a beta of 0.41. The firm has a 50-day moving average of $76.81 and a 200 day moving average of $74.91.
Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, February 21st. The real estate investment trust reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.48. The firm earned $229 million during the quarter, compared to analyst estimates of $227.18 million. Extra Space Storage had a return on equity of 14.98% and a net margin of 30.57%. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.87 earnings per share. On average, analysts predict that Extra Space Storage, Inc. will post $2.64 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend was Monday, March 13th. Extra Space Storage’s dividend payout ratio (DPR) is 134.48%.
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EXR has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Tuesday, January 10th. Evercore ISI downgraded Extra Space Storage from a “hold” rating to an “underperform” rating in a research note on Friday, March 3rd. Royal Bank of Canada downgraded Extra Space Storage from an “outperform” rating to a “sector perform” rating and set a $79.00 price objective for the company. in a research note on Tuesday, January 3rd. BMO Capital Markets restated a “hold” rating and issued a $80.00 price objective on shares of Extra Space Storage in a research note on Wednesday, March 22nd. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $76.00 price objective on shares of Extra Space Storage in a research note on Wednesday, February 22nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $87.56.
In related news, EVP James Overturf sold 1,300 shares of the stock in a transaction that occurred on Wednesday, February 8th. The stock was sold at an average price of $74.10, for a total transaction of $96,330.00. Following the completion of the transaction, the executive vice president now directly owns 91,457 shares of the company’s stock, valued at $6,776,963.70. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Spencer Kirk sold 20,000 shares of the stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $79.63, for a total value of $1,592,600.00. Following the transaction, the director now directly owns 664,430 shares of the company’s stock, valued at $52,908,560.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,200 shares of company stock valued at $4,771,541. Corporate insiders own 4.13% of the company’s stock.
About Extra Space Storage
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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