Extra Space Storage Inc (EXR) Position Lifted by Advisors Asset Management Inc.

Advisors Asset Management Inc. lifted its position in shares of Extra Space Storage Inc (NYSE:EXR) by 11.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,621 shares of the real estate investment trust’s stock after purchasing an additional 589 shares during the period. Advisors Asset Management Inc.’s holdings in Extra Space Storage were worth $449,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EXR. Cbre Clarion Securities LLC bought a new position in shares of Extra Space Storage during the second quarter valued at about $304,239,000. Capital Research Global Investors increased its holdings in Extra Space Storage by 56.2% during the second quarter. Capital Research Global Investors now owns 5,161,305 shares of the real estate investment trust’s stock worth $402,582,000 after buying an additional 1,857,594 shares during the last quarter. APG Asset Management N.V. increased its holdings in Extra Space Storage by 2,889.7% during the third quarter. APG Asset Management N.V. now owns 1,035,556 shares of the real estate investment trust’s stock worth $82,762,000 after buying an additional 1,000,919 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Extra Space Storage by 161.6% during the second quarter. JPMorgan Chase & Co. now owns 1,319,479 shares of the real estate investment trust’s stock worth $102,921,000 after buying an additional 815,051 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in Extra Space Storage by 3.0% during the second quarter. BlackRock Inc. now owns 12,091,401 shares of the real estate investment trust’s stock worth $943,130,000 after buying an additional 348,554 shares during the last quarter.

In other Extra Space Storage news, Director Spencer Kirk sold 20,000 shares of Extra Space Storage stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $79.64, for a total transaction of $1,592,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James Overturf sold 1,300 shares of Extra Space Storage stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $78.49, for a total transaction of $102,037.00. Following the sale, the executive vice president now owns 84,975 shares of the company’s stock, valued at $6,669,687.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,250 shares of company stock valued at $5,276,770. 3.72% of the stock is currently owned by company insiders.

A number of analysts recently issued reports on the stock. Jefferies Group set a $90.00 price objective on shares of Extra Space Storage and gave the stock a “hold” rating in a report on Tuesday, November 28th. Wells Fargo & Company set a $93.00 target price on shares of Extra Space Storage and gave the stock a “buy” rating in a research note on Thursday, November 30th. Robert W. Baird reiterated a “buy” rating and issued a $92.00 target price on shares of Extra Space Storage in a research note on Wednesday, November 29th. Zacks Investment Research downgraded shares of Extra Space Storage from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $77.00 target price on shares of Extra Space Storage in a research note on Sunday, August 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Extra Space Storage has a consensus rating of “Hold” and an average price target of $86.73.

Shares of Extra Space Storage Inc (NYSE EXR) traded up $0.02 during trading on Wednesday, reaching $84.87. 682,800 shares of the company’s stock traded hands, compared to its average volume of 1,013,177. Extra Space Storage Inc has a twelve month low of $69.81 and a twelve month high of $88.05. The company has a market capitalization of $10,691.76, a price-to-earnings ratio of 19.83, a PEG ratio of 3.27 and a beta of 0.39. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.68.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Wednesday, November 1st. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.03. Extra Space Storage had a net margin of 33.21% and a return on equity of 14.41%. The business had revenue of $284.16 million during the quarter, compared to analyst estimates of $246.85 million. During the same period in the previous year, the business posted $1.02 earnings per share. Extra Space Storage’s revenue for the quarter was up 10.5% on a year-over-year basis. analysts anticipate that Extra Space Storage Inc will post 4.34 EPS for the current year.

Extra Space Storage announced that its Board of Directors has initiated a stock repurchase plan on Monday, November 13th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $3.12 annualized dividend and a yield of 3.68%. Extra Space Storage’s payout ratio is presently 114.71%.

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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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Institutional Ownership by Quarter for Extra Space Storage (NYSE:EXR)

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