Enterprise Bank & Trust Co Purchases 250 Shares of Extra Space Storage Inc. (NYSE:EXR)

Enterprise Bank & Trust Co increased its position in Extra Space Storage Inc. (NYSE:EXR – Get Rating) by 6.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,160 shares of the real estate investment trust’s stock after purchasing an additional 250 shares during the period. Enterprise Bank & Trust Co’s holdings in Extra Space Storage were worth $612,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Massachusetts Financial Services Co. MA lifted its position in Extra Space Storage by 0.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,648,605 shares of the real estate investment trust’s stock valued at $630,149,000 after acquiring an additional 10,610 shares during the period. FMR LLC lifted its holdings in shares of Extra Space Storage by 4.3% during the second quarter. FMR LLC now owns 2,608,764 shares of the real estate investment trust’s stock valued at $443,803,000 after purchasing an additional 107,178 shares during the last quarter. Pictet Asset Management SA boosted its position in shares of Extra Space Storage by 7.5% in the 3rd quarter. Pictet Asset Management SA now owns 2,084,840 shares of the real estate investment trust’s stock worth $359,005,000 after purchasing an additional 145,688 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Extra Space Storage by 4.5% in the 2nd quarter. Legal & General Group Plc now owns 1,750,756 shares of the real estate investment trust’s stock worth $297,842,000 after purchasing an additional 75,582 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Extra Space Storage by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,312,164 shares of the real estate investment trust’s stock worth $269,781,000 after buying an additional 31,987 shares during the last quarter. Institutional investors own 95.32% of the company’s stock.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock traded down $0.44 during trading hours on Friday, reaching $159.52. 1,253,295 shares of the stock traded hands, compared to its average volume of 1,071,065. The company has a 50 day moving average price of $158.55 and a 200 day moving average price of $163.37. Extra Space Storage Inc. has a one year low of $139.97 and a one year high of $222.35. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $21.53 billion, a price-to-earnings ratio of 24.89, a P/E/G ratio of 6.17 and a beta of 0.54.

Extra Space Storage (NYSE:EXR – Get Rating) last announced its quarterly earnings data on Wednesday, February 22nd. The real estate investment trust reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.56). Extra Space Storage had a net margin of 45.52% and a return on equity of 22.01%. The company had revenue of $506.70 million for the quarter, compared to the consensus estimate of $433.39 million. During the same quarter last year, the firm posted $1.91 earnings per share. The company’s revenue was up 18.4% compared to the same quarter last year. On average, equities research analysts expect that Extra Space Storage Inc. will post 8.52 earnings per share for the current fiscal year.

Extra Space Storage Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.06%. This is an increase from Extra Space Storage’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, March 14th. Extra Space Storage’s payout ratio is presently 101.09%.

Insider Activity

In other news, CMO Samrat Sondhi sold 6,290 shares of the firm’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $161.88, for a total value of $1,018,225.20. Following the completion of the sale, the chief marketing officer now owns 82,653 shares in the company, valued at approximately $13,379,867.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CMO Samrat Sondhi sold 6,290 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $161.88, for a total transaction of $1,018,225.20. Following the transaction, the chief marketing officer now owns 82,653 shares of the company’s stock, valued at approximately $13,379,867.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Gwyn Goodson Mcneal sold 1,500 shares of Extra Space Storage stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $164.00, for a total value of $246,000.00. Following the completion of the sale, the executive vice president now owns 32,290 shares of the company’s stock, valued at $5,295,560. The disclosure for this sale can be found here. Insiders have sold a total of 8,440 shares of company stock worth $1,371,963 over the last quarter. Insiders own 1.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on EXR shares. KeyCorp dropped their target price on Extra Space Storage from $220.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, November 30th. Morgan Stanley reduced their price objective on shares of Extra Space Storage from $153.00 to $145.00 and set an “underweight” rating for the company in a research note on Wednesday, December 14th. JPMorgan Chase & Co. downgraded shares of Extra Space Storage from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $177.00 to $167.00 in a research note on Friday, December 16th. Evercore ISI downgraded shares of Extra Space Storage from an “in-line” rating to an “underperform” rating and reduced their price target for the company from $162.00 to $150.00 in a research report on Monday, November 21st. Finally, StockNews.com initiated coverage on Extra Space Storage in a research report on Thursday. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $170.89.

About Extra Space Storage

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Extra Space Storage, Inc is a real estate investment trust. It operates through the following segments: Self-Storage Operations and Tenant Reinsurance. The Self-Storage Operations segment includes rental operations of wholly-owned stores. The Tenant Reinsurance segment includes reinsurance of risks relating to the loss of goods stored by tenants in stores.