Westpac Banking Corp raised its holdings in Extra Space Storage Inc (NYSE:EXR) by 7.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 279,232 shares of the real estate investment trust’s stock after acquiring an additional 19,608 shares during the quarter. Westpac Banking Corp owned 0.22% of Extra Space Storage worth $22,316,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Penserra Capital Management LLC acquired a new stake in Extra Space Storage in the 3rd quarter valued at about $131,000. Atria Investments LLC acquired a new stake in Extra Space Storage in the 2nd quarter valued at about $213,000. Federated Investors Inc. PA acquired a new stake in Extra Space Storage in the 2nd quarter valued at about $218,000. Achmea Investment Management B.V. acquired a new stake in Extra Space Storage in the 1st quarter valued at about $216,000. Finally, Donaldson Capital Management LLC acquired a new stake in Extra Space Storage in the 2nd quarter valued at about $231,000.
A number of equities research analysts have weighed in on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $80.00 price target on shares of Extra Space Storage in a report on Tuesday, October 24th. BidaskClub downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Bank of America Corporation downgraded shares of Extra Space Storage from a “buy” rating to a “neutral” rating and cut their price target for the company from $83.00 to $81.00 in a report on Thursday, July 20th. Cantor Fitzgerald reissued a “hold” rating and issued a $77.00 price target on shares of Extra Space Storage in a report on Sunday, August 20th. Finally, KeyCorp reissued a “buy” rating and issued a $82.00 price target on shares of Extra Space Storage in a report on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Extra Space Storage currently has an average rating of “Hold” and an average price target of $82.56.
In other news, EVP James Overturf sold 1,300 shares of Extra Space Storage stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $75.50, for a total transaction of $98,150.00. Following the transaction, the executive vice president now owns 86,275 shares in the company, valued at approximately $6,513,762.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Spencer Kirk sold 20,000 shares of Extra Space Storage stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $79.64, for a total value of $1,592,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 43,900 shares of company stock worth $3,461,727 in the last quarter. 3.72% of the stock is currently owned by company insiders.
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Extra Space Storage Inc (NYSE:EXR) traded down 0.98% during mid-day trading on Wednesday, reaching $80.79. 252,558 shares of the company’s stock were exchanged. The stock has a market cap of $10.18 billion, a P/E ratio of 27.61 and a beta of 0.36. Extra Space Storage Inc has a 52 week low of $68.09 and a 52 week high of $83.23. The stock has a 50-day moving average price of $80.10 and a 200-day moving average price of $77.80.
Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.04. Extra Space Storage had a return on equity of 15.20% and a net margin of 36.35%. The business had revenue of $276.00 million for the quarter, compared to analysts’ expectations of $239.89 million. During the same quarter in the previous year, the business posted $0.94 EPS. Extra Space Storage’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, analysts forecast that Extra Space Storage Inc will post $2.76 earnings per share for the current year.
Extra Space Storage Company Profile
Extra Space Storage Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, manages, acquires, develops and redevelops self-storage properties located throughout the United States. The Company operates through three segments: rental operations; tenant reinsurance, and property management, acquisition and development.
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