Duality Advisers LP bought a new position in shares of Extra Space Storage, Inc. (NYSE:EXR) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 20,462 shares of the real estate investment trust’s stock, valued at approximately $1,890,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. acquired a new stake in Extra Space Storage during the 2nd quarter worth $1,012,000. Campbell & CO Investment Adviser LLC acquired a new stake in Extra Space Storage in the 2nd quarter valued at $234,000. CIBC Asset Management Inc lifted its position in shares of Extra Space Storage by 1.6% during the second quarter. CIBC Asset Management Inc now owns 11,114 shares of the real estate investment trust’s stock worth $1,027,000 after purchasing an additional 172 shares during the last quarter. Raymond James & Associates lifted its holdings in Extra Space Storage by 5.0% during the 2nd quarter. Raymond James & Associates now owns 29,042 shares of the real estate investment trust’s stock worth $2,683,000 after buying an additional 1,385 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Extra Space Storage by 7.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 59,126 shares of the real estate investment trust’s stock valued at $5,461,000 after acquiring an additional 3,899 shares during the last quarter. 98.28% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Joseph D. Margolis sold 2,500 shares of the business’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $93.24, for a total transaction of $233,100.00. Following the completion of the transaction, the chief executive officer now owns 120,300 shares of the company’s stock, valued at approximately $11,216,772. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO P Scott Stubbs sold 8,085 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $105.58, for a total value of $853,614.30. Following the transaction, the chief financial officer now directly owns 152,873 shares of the company’s stock, valued at approximately $16,140,331.34. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,776 shares of company stock worth $1,826,976. Insiders own 2.64% of the company’s stock.
Extra Space Storage (NYSE:EXR) last issued its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.83 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.37). Extra Space Storage had a net margin of 34.99% and a return on equity of 16.27%. The business had revenue of $286.70 million for the quarter, compared to the consensus estimate of $284.34 million. During the same quarter in the previous year, the firm posted $1.16 EPS. The business’s revenue was up 5.8% on a year-over-year basis. On average, equities analysts expect that Extra Space Storage, Inc. will post 4.82 earnings per share for the current year.
Several brokerages have recently weighed in on EXR. Goldman Sachs Group assumed coverage on Extra Space Storage in a report on Friday, June 26th. They issued a “buy” rating and a $111.00 price objective for the company. Citigroup upped their target price on Extra Space Storage from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Raymond James cut shares of Extra Space Storage from a “market perform” rating to an “underperform” rating in a research note on Sunday, April 19th. Stifel Nicolaus boosted their price objective on shares of Extra Space Storage from $94.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Finally, SunTrust Banks cut their target price on shares of Extra Space Storage from $114.00 to $102.00 and set a “hold” rating for the company in a research note on Friday, April 17th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $104.82.
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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