Dupont Capital Management Corp lowered its holdings in shares of Extra Space Storage, Inc. (NYSE:EXR) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,820 shares of the real estate investment trust’s stock after selling 2,061 shares during the period. Dupont Capital Management Corp’s holdings in Extra Space Storage were worth $10,391,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Fieldpoint Private Securities LLC acquired a new stake in Extra Space Storage during the third quarter worth $103,000. Penserra Capital Management LLC acquired a new stake in Extra Space Storage during the third quarter worth $131,000. Janney Montgomery Scott LLC acquired a new stake in Extra Space Storage during the third quarter worth $200,000. Conning Inc. acquired a new stake in Extra Space Storage during the fourth quarter worth $202,000. Finally, Mackenzie Financial Corp acquired a new stake in Extra Space Storage during the third quarter worth $237,000.
A number of research firms have weighed in on EXR. Wells Fargo & Co set a $93.00 price target on shares of Extra Space Storage and gave the stock a “buy” rating in a research note on Thursday, November 30th. Jefferies Group restated a “hold” rating and issued a $80.00 target price on shares of Extra Space Storage in a research note on Tuesday, October 24th. Cantor Fitzgerald restated a “hold” rating and issued a $77.00 target price on shares of Extra Space Storage in a research note on Wednesday, November 1st. Zacks Investment Research upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a research note on Monday, November 27th. Finally, Robert W. Baird restated a “buy” rating and issued a $92.00 target price on shares of Extra Space Storage in a research note on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $86.42.
Extra Space Storage (NYSE:EXR) last issued its earnings results on Wednesday, November 1st. The real estate investment trust reported $1.13 EPS for the quarter, beating the Thomson Reuters’ 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 company had revenue of $284.16 million for the quarter, compared to the consensus estimate of $246.85 million. During the same quarter in the previous year, the company earned $1.02 EPS. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. equities research analysts predict that Extra Space Storage, Inc. will post 4.34 earnings per share for the current fiscal year.
Extra Space Storage declared that its Board of Directors has initiated a stock buyback program on Monday, November 13th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
In related news, SVP Grace Kunde sold 350 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $87.65, for a total transaction of $30,677.50. Following the transaction, the senior vice president now owns 11,209 shares in the company, valued at approximately $982,468.85. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP James Overturf sold 1,300 shares of the company’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $86.55, for a total transaction of $112,515.00. Following the transaction, the executive vice president now owns 82,375 shares in the company, valued at approximately $7,129,556.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,830 shares of company stock worth $2,033,065. 3.72% of the stock is owned by corporate insiders.
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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