Jupiter Asset Management Ltd. lifted its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 6.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,596 shares of the real estate investment trust’s stock after acquiring an additional 587 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Extra Space Storage were worth $1,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ossiam acquired a new stake in Extra Space Storage during the second quarter worth approximately $6,536,000. CIBC World Markets Inc. grew its stake in Extra Space Storage by 207.0% during the second quarter. CIBC World Markets Inc. now owns 37,734 shares of the real estate investment trust’s stock worth $6,182,000 after purchasing an additional 25,443 shares during the period. Kentucky Retirement Systems acquired a new stake in Extra Space Storage during the second quarter worth approximately $1,276,000. Duality Advisers LP acquired a new stake in Extra Space Storage during the third quarter worth approximately $6,755,000. Finally, Teacher Retirement System of Texas grew its stake in Extra Space Storage by 180.7% during the third quarter. Teacher Retirement System of Texas now owns 235,779 shares of the real estate investment trust’s stock worth $39,609,000 after purchasing an additional 151,783 shares during the period. 93.14% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently commented on the company. Morgan Stanley raised their target price on Extra Space Storage from $160.00 to $175.00 and gave the stock an “underweight” rating in a research note on Monday, November 29th. The Goldman Sachs Group reissued a “buy” rating and issued a $237.00 price objective on shares of Extra Space Storage in a research note on Monday, November 1st. Evercore ISI reissued a “hold” rating and issued a $196.00 price objective on shares of Extra Space Storage in a research note on Friday, October 22nd. Jefferies Financial Group cut Extra Space Storage from a “buy” rating to a “hold” rating and reduced their price objective for the company from $229.00 to $223.00 in a research note on Monday, January 10th. Finally, Truist raised their price objective on Extra Space Storage from $188.00 to $213.00 and gave the company a “buy” rating in a research note on Thursday, December 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $195.12.
Shares of Extra Space Storage stock opened at $203.61 on Friday. The firm has a market capitalization of $27.26 billion, a P/E ratio of 37.92, a price-to-earnings-growth ratio of 2.19 and a beta of 0.33. The business’s fifty day simple moving average is $208.80 and its 200 day simple moving average is $188.86. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.65. Extra Space Storage Inc. has a 12 month low of $109.86 and a 12 month high of $228.84.
Extra Space Storage (NYSE:EXR) last issued its earnings results on Wednesday, October 27th. The real estate investment trust reported $1.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.71 by ($0.31). The firm had revenue of $351.36 million during the quarter, compared to the consensus estimate of $338.35 million. Extra Space Storage had a net margin of 49.09% and a return on equity of 22.72%. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.31 earnings per share. Analysts predict that Extra Space Storage Inc. will post 6.86 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 31st. Shareholders of record on Wednesday, December 15th were paid a $1.25 dividend. The ex-dividend date was Tuesday, December 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.46%. Extra Space Storage’s payout ratio is presently 93.11%.
Extra Space Storage Company Profile
Extra Space Storage, Inc is a real estate investment trust. It operates through the following segments: Self-Storage Operations and Tenant Reinsurance. The Self-Storage Operations segment includes rental operations of wholly-owned stores. The Tenant Reinsurance segment includes reinsurance of risks relating to the loss of goods stored by tenants in stores.
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