Geode Capital Management LLC Has $679.64 Million Stake in Extra Space Storage Inc. (NYSE:EXR)

Geode Capital Management LLC raised its holdings in Extra Space Storage Inc. (NYSE:EXRGet Rating) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,004,095 shares of the real estate investment trust’s stock after acquiring an additional 82,323 shares during the period. Geode Capital Management LLC owned about 2.24% of Extra Space Storage worth $679,643,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Pictet Asset Management SA increased its stake in shares of Extra Space Storage by 89.9% during the fourth quarter. Pictet Asset Management SA now owns 1,672,772 shares of the real estate investment trust’s stock worth $379,268,000 after purchasing an additional 791,859 shares during the period. Morgan Stanley boosted its holdings in shares of Extra Space Storage by 85.0% during the 3rd quarter. Morgan Stanley now owns 877,027 shares of the real estate investment trust’s stock valued at $147,333,000 after acquiring an additional 403,055 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Extra Space Storage by 19.3% during the 4th quarter. Northern Trust Corp now owns 2,342,391 shares of the real estate investment trust’s stock valued at $531,090,000 after acquiring an additional 378,523 shares in the last quarter. Renaissance Technologies LLC raised its position in Extra Space Storage by 2,332.5% during the 3rd quarter. Renaissance Technologies LLC now owns 367,300 shares of the real estate investment trust’s stock worth $61,703,000 after purchasing an additional 352,200 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its position in Extra Space Storage by 1,331.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 360,484 shares of the real estate investment trust’s stock worth $81,733,000 after purchasing an additional 335,307 shares during the last quarter. 95.44% of the stock is owned by institutional investors.

Shares of EXR stock opened at $171.38 on Monday. Extra Space Storage Inc. has a 52-week low of $145.14 and a 52-week high of $228.84. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a market capitalization of $23.01 billion, a P/E ratio of 27.82, a P/E/G ratio of 2.68 and a beta of 0.45. The stock has a 50 day moving average price of $197.26 and a 200 day moving average price of $200.88.

Extra Space Storage (NYSE:EXRGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported $1.51 EPS for the quarter, missing the consensus estimate of $1.86 by ($0.35). Extra Space Storage had a return on equity of 23.42% and a net margin of 50.76%. The firm had revenue of $379.81 million for the quarter, compared to analysts’ expectations of $368.88 million. During the same quarter in the previous year, the business earned $1.50 earnings per share. The company’s revenue for the quarter was up 25.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Extra Space Storage Inc. will post 8.27 EPS for the current year.

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Extra Space Storage from $220.00 to $224.00 and gave the stock a “neutral” rating in a research report on Monday, April 4th. Morgan Stanley cut their price target on Extra Space Storage from $175.00 to $172.00 and set an “underweight” rating for the company in a research note on Wednesday, March 2nd. Finally, StockNews.com upgraded Extra Space Storage from a “hold” rating to a “buy” rating in a research note on Monday, May 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Extra Space Storage currently has an average rating of “Buy” and an average price target of $201.93.

In related news, EVP Gwyn Goodson Mcneal sold 3,125 shares of the company’s stock in a transaction dated Wednesday, March 2nd. The stock was sold at an average price of $192.00, for a total value of $600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph D. Margolis sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $208.34, for a total value of $1,041,700.00. Following the sale, the chief executive officer now owns 62,035 shares of the company’s stock, valued at $12,924,371.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,625 shares of company stock valued at $2,314,085. 1.52% of the stock is currently owned by insiders.

Extra Space Storage Company Profile (Get Rating)

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, 2020, the Company owned and/or operated 1,906 self-storage stores in 40 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.4 million units and approximately 147.5 million square feet of rentable space.

See Also

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

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