California State Teachers Retirement System raised its stake in Extra Space Storage, Inc. (NYSE:EXR) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 195,685 shares of the real estate investment trust’s stock after acquiring an additional 1,981 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of Extra Space Storage worth $17,706,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Rehmann Capital Advisory Group lifted its holdings in shares of Extra Space Storage by 22.5% in the fourth quarter. Rehmann Capital Advisory Group now owns 566 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 104 shares during the last quarter. Atlas Capital Advisors LLC bought a new position in Extra Space Storage in the 3rd quarter valued at approximately $125,000. ING Groep NV bought a new position in Extra Space Storage in the 3rd quarter valued at approximately $208,000. Exane Asset Management bought a new position in Extra Space Storage in the 3rd quarter valued at approximately $258,000. Finally, Dynamic Technology Lab Private Ltd raised its holdings in Extra Space Storage by 24.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 3,352 shares of the real estate investment trust’s stock valued at $290,000 after buying an additional 652 shares during the last quarter. 98.55% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE EXR opened at $99.78 on Friday. The company has a market capitalization of $12.68 billion, a P/E ratio of 21.37, a price-to-earnings-growth ratio of 4.54 and a beta of 0.29. Extra Space Storage, Inc. has a 1 year low of $82.80 and a 1 year high of $101.96. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.72 and a quick ratio of 0.72.
Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.02. Extra Space Storage had a net margin of 37.36% and a return on equity of 16.40%. The firm had revenue of $266.60 million during the quarter, compared to analyst estimates of $265.39 million. During the same quarter last year, the business earned $1.17 EPS. The company’s revenue was up 8.2% compared to the same quarter last year. Analysts forecast that Extra Space Storage, Inc. will post 4.82 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be issued a dividend of $0.86 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $3.44 annualized dividend and a yield of 3.45%. Extra Space Storage’s payout ratio is 73.66%.
In other Extra Space Storage news, Director Spencer Kirk sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $93.12, for a total transaction of $4,190,400.00. Following the completion of the transaction, the director now owns 630,029 shares in the company, valued at approximately $58,668,300.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP James Overturf sold 5,173 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $100.03, for a total transaction of $517,455.19. Following the transaction, the executive vice president now owns 73,054 shares of the company’s stock, valued at approximately $7,307,591.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 126,874 shares of company stock valued at $12,139,229. Company insiders own 3.52% of the company’s stock.
A number of brokerages recently issued reports on EXR. Zacks Investment Research upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and set a $104.00 price objective for the company in a report on Tuesday, December 18th. ValuEngine upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating in a report on Wednesday, March 6th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $97.67.
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Extra Space Storage 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 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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