Mizuho Asset Management Co. Ltd. bought a new position in Extra Space Storage Inc. (NYSE:EXR) during the second quarter, Holdings Channel reports. The fund bought 1,794 shares of the real estate investment trust’s stock, valued at approximately $166,000.
Several other institutional investors also recently made changes to their positions in the company. Cypress Capital Management LLC WY bought a new position in shares of Extra Space Storage during the second quarter worth approximately $143,000. Johanson Financial Advisors Inc. bought a new position in shares of Extra Space Storage during the second quarter worth approximately $208,000. Victory Capital Management Inc. boosted its position in shares of Extra Space Storage by 41.9% in the second quarter. Victory Capital Management Inc. now owns 2,298 shares of the real estate investment trust’s stock worth $213,000 after buying an additional 678 shares during the period. Concert Wealth Management Inc. bought a new position in shares of Extra Space Storage during the second quarter worth approximately $221,000. Finally, Conning Inc. bought a new position in shares of Extra Space Storage during the second quarter worth approximately $229,000. Hedge funds and other institutional investors own 96.31% of the company’s stock.
Extra Space Storage Inc. (NYSE:EXR) opened at 79.025 on Friday. The stock has a 50 day moving average price of $80.71 and a 200 day moving average price of $87.82. The company has a market capitalization of $9.94 billion, a price-to-earnings ratio of 40.155 and a beta of 0.76. Extra Space Storage Inc. has a 52-week low of $74.77 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 EPS for the quarter, beating the 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 firm earned $244.30 million during the quarter, compared to analysts’ expectations of $213.32 million. During the same quarter last year, the firm earned $0.75 earnings per share. The business’s revenue for the quarter was up 31.4% on a year-over-year basis. On average, equities analysts expect that Extra Space Storage Inc. will post $3.76 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be paid a dividend of $0.78 per share. The ex-dividend date is Tuesday, September 13th. This represents a $3.12 annualized dividend and a yield of 3.93%. Extra Space Storage’s dividend payout ratio (DPR) is 158.38%.
A number of equities analysts have recently commented on the company. Jefferies Group lifted their target price on Extra Space Storage from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, May 31st. Zacks Investment Research upgraded Extra Space Storage from a “hold” rating to a “buy” rating and set a $104.00 target price for the company in a report on Tuesday, July 5th. DA Davidson lifted their target price on Extra Space Storage from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, July 29th. KeyCorp dropped their target price on Extra Space Storage from $98.00 to $89.00 and set an “overweight” rating for the company in a report on Monday, September 12th. Finally, Cantor Fitzgerald reiterated a “hold” rating on shares of Extra Space Storage in a report on Friday, August 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. Extra Space Storage presently has an average rating of “Hold” and an average target price of $91.96.
In other Extra Space Storage news, CEO Spencer Kirk sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $80.66, for a total transaction of $1,613,200.00. Following the completion of the sale, the chief executive officer now owns 734,430 shares of the company’s stock, valued at $59,239,123.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company 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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