United Services Automobile Association grew its stake in Extra Space Storage, Inc. (NYSE:EXR) by 36.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,613 shares of the real estate investment trust’s stock after acquiring an additional 14,200 shares during the quarter. United Services Automobile Association’s holdings in Extra Space Storage were worth $5,351,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Extra Space Storage by 1.6% in the 2nd quarter. BlackRock Inc. now owns 12,751,604 shares of the real estate investment trust’s stock valued at $1,272,738,000 after acquiring an additional 200,476 shares during the period. Cbre Clarion Securities LLC increased its holdings in shares of Extra Space Storage by 20.6% in the 2nd quarter. Cbre Clarion Securities LLC now owns 4,585,475 shares of the real estate investment trust’s stock valued at $457,676,000 after acquiring an additional 781,758 shares during the period. Principal Financial Group Inc. boosted its position in shares of Extra Space Storage by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 2,847,149 shares of the real estate investment trust’s stock worth $248,727,000 after purchasing an additional 66,223 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Extra Space Storage by 205.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,059,696 shares of the real estate investment trust’s stock worth $205,577,000 after purchasing an additional 1,385,706 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Extra Space Storage by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,936,374 shares of the real estate investment trust’s stock worth $193,271,000 after purchasing an additional 21,389 shares in the last quarter.
In other Extra Space Storage news, EVP James Overturf sold 880 shares of Extra Space Storage stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $94.58, for a total transaction of $83,230.40. Following the completion of the sale, the executive vice president now owns 73,857 shares of the company’s stock, valued at approximately $6,985,395.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 2,640 shares of company stock valued at $244,191. 3.52% of the stock is currently owned by insiders.
Shares of EXR opened at $84.86 on Friday. Extra Space Storage, Inc. has a one year low of $76.55 and a one year high of $101.96. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.76. The stock has a market cap of $10.96 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 3.62 and a beta of 0.11.
Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, July 31st. The real estate investment trust reported $1.15 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.15. Extra Space Storage had a return on equity of 18.93% and a net margin of 44.23%. The company had revenue of $258.13 million during the quarter, compared to analysts’ expectations of $257.14 million. During the same quarter in the previous year, the firm posted $1.09 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. As a group, equities research analysts expect that Extra Space Storage, Inc. will post 4.63 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were given a dividend of $0.86 per share. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $3.44 dividend on an annualized basis and a yield of 4.05%. Extra Space Storage’s dividend payout ratio is currently 78.54%.
A number of analysts have recently weighed in on the company. Citigroup lowered their price objective on Extra Space Storage from $103.00 to $92.00 and set a “hold” rating for the company in a research report on Friday, October 5th. SunTrust Banks reissued a “hold” rating and issued a $93.00 price objective on shares of Extra Space Storage in a research report on Wednesday, August 8th. BMO Capital Markets set a $93.00 price objective on Extra Space Storage and gave the stock a “hold” rating in a research report on Tuesday, July 31st. ValuEngine cut Extra Space Storage from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Finally, Robert W. Baird cut Extra Space Storage from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research report on Wednesday, July 18th. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $95.27.
Extra Space Storage Company Profile
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 June 30, 2018, the Company owned and/or operated 1,568 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1,090,000 units and approximately 119 million square feet of rentable space.
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