Teachers Retirement System of The State of Kentucky reduced its position in shares of Extra Space Storage, Inc. (NYSE:EXR) by 8.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,950 shares of the real estate investment trust’s stock after selling 1,250 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Extra Space Storage were worth $1,122,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EXR. First Hawaiian Bank acquired a new stake in shares of Extra Space Storage in the third quarter valued at $120,000. Assetmark Inc. raised its stake in shares of Extra Space Storage by 7,612.5% in the second quarter. Assetmark Inc. now owns 1,234 shares of the real estate investment trust’s stock valued at $123,000 after acquiring an additional 1,218 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Extra Space Storage in the third quarter valued at $137,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Extra Space Storage in the second quarter valued at $143,000. Finally, Focused Wealth Management Inc acquired a new stake in shares of Extra Space Storage in the second quarter valued at $185,000.
Extra Space Storage stock opened at $95.98 on Friday. Extra Space Storage, Inc. has a 1-year low of $77.53 and a 1-year high of $101.96. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a market capitalization of $11.94 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 3.72 and a beta of 0.07.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Thursday, December 13th. Extra Space Storage’s dividend payout ratio is presently 78.54%.
In other Extra Space Storage news, EVP James Overturf sold 880 shares of the firm’s stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $86.24, for a total value of $75,891.20. Following the sale, the executive vice president now directly owns 72,097 shares in the company, valued at $6,217,645.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 2,640 shares of company stock worth $234,256. 3.52% of the stock is owned by insiders.
Several analysts have recently issued reports on the company. ValuEngine upgraded Extra Space Storage from a “hold” rating to a “buy” rating in a research note on Tuesday, November 20th. Citigroup reduced their price objective on Extra Space Storage from $103.00 to $92.00 and set a “hold” rating on the stock in a research note on Friday, October 5th. Finally, SunTrust Banks reiterated a “hold” rating and issued a $93.00 price objective on shares of Extra Space Storage in a research note on Wednesday, August 8th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Extra Space Storage has an average rating of “Hold” and a consensus price target of $96.40.
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 September 30, 2018, the Company owned and/or operated 1,606 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.1 million units and approximately 122 million square feet of rentable space.
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