Natixis Advisors L.P. increased its holdings in shares of Extra Space Storage, Inc. (NYSE:EXR) by 16.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 13,184 shares of the real estate investment trust’s stock after acquiring an additional 1,849 shares during the period. Natixis Advisors L.P.’s holdings in Extra Space Storage were worth $1,193,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of EXR. Vanguard Group Inc grew its stake in Extra Space Storage by 0.9% during the 3rd quarter. Vanguard Group Inc now owns 20,515,679 shares of the real estate investment trust’s stock worth $1,777,479,000 after buying an additional 175,852 shares during the last quarter. Great Lakes Advisors LLC purchased a new position in Extra Space Storage during the 3rd quarter worth $378,000. Allianz Asset Management GmbH grew its stake in Extra Space Storage by 50.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 234,119 shares of the real estate investment trust’s stock worth $20,284,000 after buying an additional 78,381 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in Extra Space Storage during the 4th quarter worth $838,000. Finally, Morgan Stanley grew its stake in Extra Space Storage by 7.0% during the 3rd quarter. Morgan Stanley now owns 526,492 shares of the real estate investment trust’s stock worth $45,615,000 after buying an additional 34,310 shares during the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have commented on EXR shares. Zacks Investment Research cut Extra Space Storage from a “buy” rating to a “hold” rating in a research report on Tuesday, February 12th. ValuEngine raised Extra Space Storage from a “hold” rating to a “buy” rating in a research report on Wednesday, March 6th. Finally, Raymond James cut Extra Space Storage from an “outperform” rating to a “market perform” rating and set a $99.27 price objective for the company. in a report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $97.83.
In other Extra Space Storage news, Director Kenneth M. Woolley sold 14,781 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $98.06, for a total transaction of $1,449,424.86. Following the transaction, the director now owns 802,942 shares of the company’s stock, valued at $78,736,492.52. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO James Overturf sold 440 shares of the firm’s stock in a transaction dated Wednesday, January 16th. The stock was sold at an average price of $91.99, for a total value of $40,475.60. Following the transaction, the chief marketing officer now directly owns 69,457 shares in the company, valued at approximately $6,389,349.43. The disclosure for this sale can be found here. Over the last quarter, insiders sold 127,754 shares of company stock worth $12,226,912. Insiders own 3.52% of the company’s stock.
NYSE:EXR opened at $100.61 on Monday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.73. The company has a market cap of $12.81 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 4.93 and a beta of 0.29. Extra Space Storage, Inc. has a 12 month low of $82.80 and a 12 month high of $102.29.
Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Wednesday, February 20th. The real estate investment trust reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.02. Extra Space Storage had a return on equity of 16.40% and a net margin of 37.36%. The firm had revenue of $266.60 million for the quarter, compared to analysts’ expectations of $265.39 million. During the same period in the prior year, the firm posted $1.17 earnings per share. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. Equities research analysts forecast that Extra Space Storage, Inc. will post 4.82 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be paid a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Thursday, March 14th. Extra Space Storage’s payout ratio is currently 73.66%.
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About Extra Space Storage
Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2018, the Company owned and/or operated 1,647 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.2 million units and approximately 125.7 million square feet of rentable space.
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