Dana Investment Advisors Inc. reduced its stake in shares of Extra Space Storage, Inc. (NYSE:EXR) by 8.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,824 shares of the real estate investment trust’s stock after selling 1,613 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Extra Space Storage were worth $1,613,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LMR Partners LLP bought a new position in Extra Space Storage in the fourth quarter valued at about $1,563,000. Castle Hook Partners LP bought a new position in Extra Space Storage in the fourth quarter valued at about $3,326,000. Cohen & Steers Inc. raised its position in Extra Space Storage by 2.3% in the fourth quarter. Cohen & Steers Inc. now owns 8,158,274 shares of the real estate investment trust’s stock valued at $738,161,000 after purchasing an additional 185,762 shares during the last quarter. American International Group Inc. raised its position in Extra Space Storage by 0.5% in the fourth quarter. American International Group Inc. now owns 48,672 shares of the real estate investment trust’s stock valued at $4,404,000 after purchasing an additional 258 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Extra Space Storage by 8.3% in the fourth quarter. Geode Capital Management LLC now owns 1,950,053 shares of the real estate investment trust’s stock valued at $176,181,000 after purchasing an additional 149,614 shares during the last quarter. 98.55% of the stock is currently owned by institutional investors.
In other news, CFO P Scott Stubbs sold 15,600 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $98.58, for a total transaction of $1,537,848.00. Following the completion of the transaction, the chief financial officer now directly owns 160,612 shares in the company, valued at $15,833,130.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Spencer Kirk sold 45,000 shares of the firm’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $93.12, for a total value of $4,190,400.00. Following the transaction, the director now owns 630,029 shares of the company’s stock, valued at $58,668,300.48. The disclosure for this sale can be found here. Insiders have sold 126,874 shares of company stock valued at $12,139,229 over the last 90 days. 3.52% of the stock is owned by corporate insiders.
Shares of EXR opened at $99.78 on Friday. Extra Space Storage, Inc. has a 1 year low of $82.80 and a 1 year high of $101.96. 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 stock has a market cap of $12.68 billion, a PE ratio of 21.37, a P/E/G ratio of 4.54 and a beta of 0.29.
Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Wednesday, February 20th. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 company had revenue of $266.60 million during the quarter, compared to the consensus estimate of $265.39 million. During the same period last year, the company earned $1.17 earnings per share. The firm’s revenue was up 8.2% compared to the same quarter last year. On average, research analysts anticipate that Extra Space Storage, Inc. will post 4.82 EPS for the current fiscal 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 given a dividend of $0.86 per share. The ex-dividend date is Thursday, March 14th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.45%. Extra Space Storage’s dividend payout ratio (DPR) is 73.66%.
Several equities analysts have commented on the company. ValuEngine upgraded Extra Space Storage from a “hold” rating to a “buy” rating in a research report on Wednesday, March 6th. Zacks Investment Research downgraded Extra Space Storage from a “buy” rating to a “hold” rating in a research report on Tuesday, February 12th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Extra Space Storage currently has an average rating of “Hold” and a consensus target price of $97.67.
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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