Extra Space Storage Inc (EXR) Shares Bought by Capital Research Global Investors
Capital Research Global Investors grew its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 56.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,161,305 shares of the real estate investment trust’s stock after acquiring an additional 1,857,594 shares during the quarter. Capital Research Global Investors owned about 4.10% of Extra Space Storage worth $402,582,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in EXR. Pacer Advisors Inc. lifted its holdings in shares of Extra Space Storage by 3.2% during the 1st quarter. Pacer Advisors Inc. now owns 2,810 shares of the real estate investment trust’s stock valued at $209,000 after buying an additional 88 shares during the period. Global X Management Co. LLC lifted its position in Extra Space Storage by 42.4% during the first quarter. Global X Management Co. LLC now owns 2,830 shares of the real estate investment trust’s stock valued at $211,000 after purchasing an additional 842 shares in the last quarter. Atria Investments LLC purchased a new position in Extra Space Storage during the second quarter valued at $213,000. Achmea Investment Management B.V. purchased a new position in Extra Space Storage during the first quarter valued at $216,000. Finally, Mackenzie Financial Corp bought a new stake in Extra Space Storage during the first quarter valued at about $218,000.
Extra Space Storage Inc (NYSE EXR) traded down 0.272% on Wednesday, reaching $78.805. 77,987 shares of the company’s stock were exchanged. Extra Space Storage Inc has a 1-year low of $68.09 and a 1-year high of $83.23. The firm has a 50-day moving average price of $78.29 and a 200-day moving average price of $77.11. The company has a market capitalization of $9.93 billion, a P/E ratio of 26.933 and a beta of 0.36.
Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.04. The company had revenue of $276.00 million for the quarter, compared to the consensus estimate of $239.89 million. Extra Space Storage had a net margin of 36.35% and a return on equity of 15.20%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.94 earnings per share. Equities research analysts expect that Extra Space Storage Inc will post $2.76 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend was Thursday, September 14th. Extra Space Storage’s dividend payout ratio is currently 107.22%.
Several analysts have recently commented on the stock. BMO Capital Markets started coverage on shares of Extra Space Storage in a research note on Monday, September 11th. They set a “market perform” rating and a $78.00 target price on the stock. Bank of America Corporation downgraded Extra Space Storage from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $83.00 to $81.00 in a research report on Thursday, July 20th. BidaskClub upgraded Extra Space Storage from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Evercore ISI reiterated an “in-line” rating and set a $80.00 price objective (up previously from $78.00) on shares of Extra Space Storage in a research report on Thursday, September 14th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and issued a $77.00 price target on shares of Extra Space Storage in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Extra Space Storage presently has an average rating of “Hold” and an average target price of $81.78.
In other news, EVP James Overturf sold 1,300 shares of the firm’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $77.27, for a total value of $100,451.00. Following the transaction, the executive vice president now owns 87,575 shares of the company’s stock, valued at approximately $6,766,920.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Spencer Kirk sold 20,000 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $78.12, for a total transaction of $1,562,400.00. Following the completion of the transaction, the director now directly owns 665,748 shares in the company, valued at approximately $52,008,233.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,900 shares of company stock valued at $3,444,838. Company insiders own 3.72% of the company’s stock.
Extra Space Storage Company Profile
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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