Extra Space Storage, Inc. (NYSE:EXR) was the recipient of a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 5,170,700 shares, a decrease of 11.2% from the May 30th total of 5,820,300 shares. Based on an average trading volume of 847,800 shares, the short-interest ratio is currently 6.1 days. Currently, 4.2% of the company’s stock are sold short.
A number of analysts have recently commented on EXR shares. BMO Capital Markets reissued a “hold” rating and issued a $45.00 price target on shares of SAP in a research report on Wednesday, May 1st. Evercore ISI cut Essex Property Trust from an “outperform” rating to an “in-line” rating in a research report on Monday, April 1st. Zacks Investment Research cut Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Finally, Raymond James set a $28.00 price target on Wheaton Precious Metals and gave the stock a “buy” rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $98.16.
Shares of EXR traded up $0.26 during mid-day trading on Friday, reaching $110.86. The company had a trading volume of 327,630 shares, compared to its average volume of 850,844. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.47 and a quick ratio of 0.47. The stock’s 50-day moving average is $107.76. Extra Space Storage has a 52 week low of $83.70 and a 52 week high of $111.62. The stock has a market capitalization of $14.09 billion, a P/E ratio of 23.74, a price-to-earnings-growth ratio of 4.74 and a beta of 0.23.
Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.02. The business had revenue of $271.00 million for the quarter, compared to analysts’ expectations of $266.01 million. Extra Space Storage had a return on equity of 16.56% and a net margin of 37.12%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.09 EPS. On average, research analysts anticipate that Extra Space Storage will post 4.81 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $0.90 dividend. The ex-dividend date was Thursday, June 13th. This is a boost from Extra Space Storage’s previous quarterly dividend of $0.86. This represents a $3.60 annualized dividend and a yield of 3.25%. Extra Space Storage’s dividend payout ratio is 77.09%.
In other news, EVP James Overturf sold 880 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $108.87, for a total value of $95,805.60. Following the sale, the executive vice president now directly owns 67,849 shares of the company’s stock, valued at approximately $7,386,720.63. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP P Scott Stubbs sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $106.92, for a total value of $855,360.00. Following the completion of the sale, the vice president now directly owns 153,012 shares in the company, valued at $16,360,043.04. The disclosure for this sale can be found here. Insiders have sold a total of 22,805 shares of company stock worth $2,429,222 in the last quarter. Company insiders own 3.29% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC boosted its stake in Extra Space Storage by 12.9% in the second quarter. Nisa Investment Advisors LLC now owns 43,434 shares of the real estate investment trust’s stock valued at $4,608,000 after acquiring an additional 4,964 shares in the last quarter. Jackson Wealth Management LLC boosted its stake in Extra Space Storage by 1.1% in the second quarter. Jackson Wealth Management LLC now owns 23,197 shares of the real estate investment trust’s stock valued at $2,517,000 after acquiring an additional 260 shares in the last quarter. Xact Kapitalforvaltning AB boosted its stake in Extra Space Storage by 9.8% in the second quarter. Xact Kapitalforvaltning AB now owns 26,053 shares of the real estate investment trust’s stock valued at $2,764,000 after acquiring an additional 2,315 shares in the last quarter. Retirement Systems of Alabama boosted its stake in Extra Space Storage by 0.3% in the second quarter. Retirement Systems of Alabama now owns 59,439 shares of the real estate investment trust’s stock valued at $6,306,000 after acquiring an additional 164 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its stake in Extra Space Storage by 11.2% in the second quarter. WINTON GROUP Ltd now owns 59,016 shares of the real estate investment trust’s stock valued at $6,262,000 after acquiring an additional 5,950 shares in the last quarter. 99.90% of the stock is currently owned by institutional investors and hedge funds.
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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