Henderson Group PLC boosted its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,517 shares of the real estate investment trust’s stock after buying an additional 3,217 shares during the period. Henderson Group PLC’s holdings in Extra Space Storage were worth $9,116,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in EXR. Concert Wealth Management Inc. purchased a new position in shares of Extra Space Storage during the second quarter valued at approximately $221,000. Cypress Capital Management LLC WY purchased a new position in shares of Extra Space Storage during the second quarter valued at approximately $143,000. Standard Life Investments LTD purchased a new position in shares of Extra Space Storage during the second quarter valued at approximately $5,624,000. ING Groep NV increased its position in shares of Extra Space Storage by 56.6% in the second quarter. ING Groep NV now owns 4,426 shares of the real estate investment trust’s stock valued at $410,000 after buying an additional 1,599 shares during the last quarter. Finally, Capital Fund Management S.A. increased its position in shares of Extra Space Storage by 168.9% in the second quarter. Capital Fund Management S.A. now owns 10,552 shares of the real estate investment trust’s stock valued at $976,000 after buying an additional 6,628 shares during the last quarter. 96.30% of the stock is owned by hedge funds and other institutional investors.
Extra Space Storage Inc. (NYSE:EXR) traded up 0.47% during trading on Monday, hitting $76.29. 456,126 shares of the company’s stock were exchanged. The company has a market cap of $9.60 billion, a price-to-earnings ratio of 38.77 and a beta of 0.64. The firm has a 50 day moving average price of $78.57 and a 200 day moving average price of $86.65. Extra Space Storage Inc. has a 52-week low of $73.02 and a 52-week high of $94.81.
Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Wednesday, July 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.01. The business earned $244.30 million during the quarter, compared to analyst estimates of $213.32 million. Extra Space Storage had a net margin of 27.43% and a return on equity of 13.27%. The company’s revenue was up 31.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. On average, equities research analysts predict that Extra Space Storage Inc. will post $3.76 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were given a dividend of $0.78 per share. The ex-dividend date was Tuesday, September 13th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.09%. Extra Space Storage’s dividend payout ratio is 158.38%.
Several analysts have recently weighed in on the stock. KeyCorp lowered their price objective on shares of Extra Space Storage from $98.00 to $89.00 and set an “overweight” rating on the stock in a research report on Monday, September 12th. Cantor Fitzgerald restated a “hold” rating on shares of Extra Space Storage in a research report on Friday, August 26th. Raymond James Financial Inc. cut shares of Extra Space Storage from a “strong-buy” rating to an “outperform” rating and raised their price objective for the company from $95.00 to $106.00 in a research report on Friday, August 12th. Jefferies Group lowered their price objective on shares of Extra Space Storage from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, August 10th. Finally, Zacks Investment Research cut shares of Extra Space Storage from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Extra Space Storage has a consensus rating of “Hold” and a consensus target price of $92.96.
In related news, CEO Spencer Kirk sold 20,000 shares of the company’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $78.26, for a total transaction of $1,565,200.00. Following the completion of the transaction, the chief executive officer now owns 734,430 shares in the company, valued at $57,476,491.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 operates through three segments: rental operations; tenant reinsurance, and property management, acquisition and development. The Company owns, operates, manages, acquires, develops and redevelops self-storage properties (stores).
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