Geode Capital Management LLC Boosts Holdings in Extra Space Storage, Inc. (EXR)

Geode Capital Management LLC raised its holdings in shares of Extra Space Storage, Inc. (NYSE:EXR) by 8.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,950,053 shares of the real estate investment trust’s stock after purchasing an additional 149,614 shares during the period. Geode Capital Management LLC’s holdings in Extra Space Storage were worth $176,181,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Rehmann Capital Advisory Group boosted its holdings in shares of Extra Space Storage by 22.5% in the 4th quarter. Rehmann Capital Advisory Group now owns 566 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 104 shares in the last quarter. Advisor Partners LLC boosted its holdings in shares of Extra Space Storage by 8.1% in the 4th quarter. Advisor Partners LLC now owns 4,928 shares of the real estate investment trust’s stock valued at $446,000 after buying an additional 371 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Extra Space Storage by 23.2% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 4,997 shares of the real estate investment trust’s stock valued at $452,000 after buying an additional 942 shares in the last quarter. Campbell & CO Investment Adviser LLC boosted its holdings in shares of Extra Space Storage by 38.6% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 5,585 shares of the real estate investment trust’s stock valued at $560,000 after buying an additional 1,555 shares in the last quarter. Finally, BB&T Securities LLC boosted its holdings in shares of Extra Space Storage by 13.7% in the 4th quarter. BB&T Securities LLC now owns 5,649 shares of the real estate investment trust’s stock valued at $511,000 after buying an additional 681 shares in the last quarter. 98.23% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on EXR shares. Evercore ISI cut shares of Extra Space Storage from an “in-line” rating to an “underperform” rating in a report on Monday, April 1st. They noted that the move was a valuation call. Zacks Investment Research cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. ValuEngine cut shares of Extra Space Storage from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. Raymond James cut shares of Extra Space Storage from an “outperform” rating to a “market perform” rating and set a $99.27 price target on the stock. in a report on Thursday, March 21st. Finally, BMO Capital Markets restated a “hold” rating and issued a $94.00 price target on shares of Extra Space Storage in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $97.93.

EXR stock opened at $106.98 on Friday. The company has a market capitalization of $13.58 billion, a P/E ratio of 22.91, a P/E/G ratio of 4.69 and a beta of 0.30. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.80. Extra Space Storage, Inc. has a 52 week low of $83.70 and a 52 week high of $108.20.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.02. The company had revenue of $271.00 million during the quarter, compared to analysts’ expectations of $266.01 million. Extra Space Storage had a net margin of 37.12% and a return on equity of 16.56%. Extra Space Storage’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the business earned $1.09 EPS. As a group, equities research analysts forecast that Extra Space Storage, Inc. will post 4.81 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.90 dividend. The ex-dividend date is Thursday, June 13th. This is a boost from Extra Space Storage’s previous quarterly dividend of $0.86. This represents a $3.60 dividend on an annualized basis and a yield of 3.37%. Extra Space Storage’s dividend payout ratio (DPR) is 73.66%.

In related news, SVP Grace Kunde sold 623 shares of Extra Space Storage stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $106.23, for a total value of $66,181.29. Following the completion of the sale, the senior vice president now directly owns 8,940 shares in the company, valued at approximately $949,696.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Samrat Sondhi sold 4,480 shares of Extra Space Storage stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $106.99, for a total transaction of $479,315.20. Following the completion of the sale, the chief operating officer now owns 76,879 shares of the company’s stock, valued at $8,225,284.21. The disclosure for this sale can be found here. Insiders sold a total of 147,479 shares of company stock valued at $14,326,199 over the last quarter. 3.29% of the stock is owned by company insiders.

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Extra Space Storage Company 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 December 31, 2018, the Company owned and/or operated 1,647 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.2 million units and approximately 125.7 million square feet of rentable space.

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

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