Gerber Kawasaki Wealth & Investment Management increased its stake in Extra Space Storage Inc. (NYSE:EXR) by 12.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 11,021 shares of the real estate investment trust’s stock after buying an additional 1,254 shares during the period. Gerber Kawasaki Wealth & Investment Management’s holdings in Extra Space Storage were worth $1,019,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of EXR. Cypress Capital Management LLC WY acquired a new position in shares of Extra Space Storage during the second quarter worth about $143,000. Johanson Financial Advisors Inc. acquired a new position in shares of Extra Space Storage during the second quarter worth about $208,000. Concert Wealth Management Inc. acquired a new position in shares of Extra Space Storage during the second quarter worth about $221,000. Conning Inc. acquired a new position in shares of Extra Space Storage during the second quarter worth about $229,000. Finally, Boothbay Fund Management LLC acquired a new position in shares of Extra Space Storage during the first quarter worth about $240,000. 96.30% of the stock is currently owned by institutional investors and hedge funds.
Extra Space Storage Inc. (NYSE:EXR) traded up 0.58% on Monday, reaching $76.37. 339,405 shares of the company’s stock traded hands. The firm has a market capitalization of $9.61 billion, a PE ratio of 38.81 and a beta of 0.64. The firm’s 50 day moving average price is $78.57 and its 200 day moving average price is $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 released its quarterly earnings results on Wednesday, July 27th. The real estate investment trust reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.01. The firm had revenue of $244.30 million for 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 for the quarter was up 31.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 earnings per share. On average, analysts predict that Extra Space Storage Inc. will post $3.76 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were given a $0.78 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $3.12 dividend on an annualized basis and a yield of 4.09%. Extra Space Storage’s dividend payout ratio (DPR) is presently 158.38%.
EXR has been the topic of a number of recent research reports. DA Davidson started coverage on shares of Extra Space Storage in a report on Friday, June 24th. They issued a “neutral” rating and a $95.00 target price on the stock. Zacks Investment Research upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and set a $104.00 price target on the stock in a research note on Tuesday, July 5th. Jefferies Group restated a “buy” rating on shares of Extra Space Storage in a research note on Wednesday, July 6th. SunTrust Banks Inc. lowered shares of Extra Space Storage from a “buy” rating to a “neutral” rating and dropped their price target for the company from $107.00 to $100.00 in a research note on Monday, July 25th. Finally, Raymond James Financial Inc. lowered shares of Extra Space Storage from a “strong-buy” rating to an “outperform” rating and raised their price target for the company from $95.00 to $106.00 in a research note on Friday, August 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. Extra Space Storage has a consensus rating of “Hold” and an average target price of $92.96.
In other Extra Space Storage news, CEO Spencer Kirk sold 20,000 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $78.26, for a total value of $1,565,200.00. Following the transaction, the chief executive officer now directly owns 734,430 shares in the company, valued at $57,476,491.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.13% of the stock is currently owned by company insiders.
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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