Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Extra Space Storage, Inc. (NYSE:EXR) by 106.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,475 shares of the real estate investment trust’s stock after buying an additional 34,850 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.05% of Extra Space Storage worth $5,846,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Assetmark Inc. grew its position in Extra Space Storage by 7,612.5% during the second quarter. Assetmark Inc. now owns 1,234 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 1,218 shares during the period. First Hawaiian Bank acquired a new position in Extra Space Storage during the third quarter worth about $120,000. Piedmont Investment Advisors LLC purchased a new stake in shares of Extra Space Storage in the second quarter valued at about $143,000. Atlas Capital Advisors LLC purchased a new stake in shares of Extra Space Storage in the third quarter valued at about $125,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Extra Space Storage in the third quarter valued at about $137,000.
Shares of NYSE EXR opened at $95.98 on Monday. Extra Space Storage, Inc. has a 12-month low of $77.53 and a 12-month high of $101.96. The stock has a market capitalization of $12.14 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 3.78 and a beta of 0.12. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.72.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 14th will be paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Thursday, December 13th. Extra Space Storage’s payout ratio is 78.54%.
Several analysts have issued reports on the stock. ValuEngine raised shares of Extra Space Storage from a “hold” rating to a “buy” rating in a report on Tuesday, November 20th. SunTrust Banks reaffirmed a “hold” rating and issued a $93.00 price target on shares of Extra Space Storage in a report on Wednesday, August 8th. Finally, Citigroup reduced their price target on shares of Extra Space Storage from $103.00 to $92.00 and set a “hold” rating on the stock in a report on Friday, October 5th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Extra Space Storage has an average rating of “Hold” and a consensus price target of $96.40.
In related news, EVP James Overturf sold 880 shares of the company’s stock in a transaction that occurred on Tuesday, October 16th. The shares were sold at an average price of $86.24, for a total transaction of $75,891.20. Following the transaction, the executive vice president now owns 72,097 shares of the company’s stock, valued at $6,217,645.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 2,640 shares of company stock worth $234,256 in the last three months. Insiders own 3.52% of the company’s stock.
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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.
Further Reading: What are Institutional Investors?
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