LMR Partners LLP decreased its stake in Extra Space Storage Inc. (NYSE:EXR) by 45.4% during the second quarter, Holdings Channel reports. The fund owned 14,005 shares of the real estate investment trust’s stock after selling 11,633 shares during the period. LMR Partners LLP’s holdings in Extra Space Storage were worth $1,296,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Oakbrook Investments LLC boosted its stake in Extra Space Storage by 7.7% in the second quarter. Oakbrook Investments LLC now owns 6,994 shares of the real estate investment trust’s stock valued at $647,000 after buying an additional 500 shares during the last quarter. Strs Ohio boosted its stake in Extra Space Storage by 0.3% in the second quarter. Strs Ohio now owns 188,165 shares of the real estate investment trust’s stock valued at $17,412,000 after buying an additional 598 shares during the last quarter. Creative Planning boosted its stake in Extra Space Storage by 4.8% in the second quarter. Creative Planning now owns 13,182 shares of the real estate investment trust’s stock valued at $1,220,000 after buying an additional 599 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in Extra Space Storage by 1.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 106,961 shares of the real estate investment trust’s stock valued at $9,898,000 after buying an additional 1,443 shares during the last quarter. Finally, ING Groep NV boosted its stake in 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. 96.31% of the stock is owned by institutional investors and hedge funds.
Shares of Extra Space Storage Inc. (NYSE:EXR) traded up 1.84% on Friday, hitting $75.47. The stock had a trading volume of 1,128,110 shares. Extra Space Storage Inc. has a 1-year low of $73.02 and a 1-year high of $94.81. The firm has a market capitalization of $9.49 billion, a price-to-earnings ratio of 38.35 and a beta of 0.64. The firm has a 50 day moving average of $79.33 and a 200-day moving average of $87.13.
Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Wednesday, July 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.01. Extra Space Storage had a return on equity of 13.27% and a net margin of 27.43%. The company had revenue of $244.30 million for the quarter, compared to the consensus estimate of $213.32 million. During the same quarter last year, the business posted $0.75 earnings per share. The firm’s revenue was up 31.4% compared to the same quarter last year. Equities analysts predict that Extra Space Storage Inc. will post $3.76 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors 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 dividend yield of 4.13%. Extra Space Storage’s dividend payout ratio (DPR) is presently 158.38%.
Several equities analysts have weighed in on EXR shares. Raymond James Financial Inc. cut Extra Space Storage from a “strong-buy” rating to an “outperform” rating and lifted their price objective for the company from $95.00 to $106.00 in a report on Friday, August 12th. Jefferies Group reaffirmed a “buy” rating on shares of Extra Space Storage in a report on Wednesday, July 6th. SunTrust Banks Inc. cut Extra Space Storage from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $107.00 to $100.00 in a report on Monday, July 25th. Cantor Fitzgerald reaffirmed a “hold” rating on shares of Extra Space Storage in a report on Friday, August 26th. Finally, Zacks Investment Research raised Extra Space Storage from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a report on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently 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 stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $80.66, for a total value of $1,613,200.00. Following the sale, the chief executive officer now owns 734,430 shares in the company, valued at $59,239,123.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.13% of the stock is owned by corporate insiders.
Extra Space Storage Company Profile
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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