CAPROCK Group Inc. purchased a new stake in shares of Extra Space Storage Inc. (NYSE:EXR – Get Rating) in Q1, according to its latest disclosure to the Securities and Exchange Commission. The fund bought 1,392 shares of the real estate investment trust, valued at around $286,000.
Several other large investors have also recently bought and sold shares of the company. NuWave Investment Management LLC bought a new position in shares of Extra Space Storage during Q1 worth approximately $117,000. CHURCHILL MANAGEMENT Corp increased its stake in Extra Space Storage by 0.5% in the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 56,304 shares of the real estate investment trust worth $11,576,000 after acquiring 258 additional shares during the period. Heartland Bank & Trust Co acquired a new stake in Extra Space Storage in Q1 worth $447,000. Veriti Management LLC acquired a new stake in Extra Space Storage in Q1 valued at $265,000. Finally, Strategy Asset Managers LLC increased its stake in Extra Space Storage by 36.8% in the 1st quarter. Strategy Asset Managers LLC now owns 5,374 shares of the real estate investment trust valued at $1,105,000 after acquiring an additional 1,446 shares during the period. 95.44% of the shares are held by hedge funds and other institutional investors.
EXR shares opened at $172.37 on Friday. The company’s 50-day moving average price is $180.64 and its 200-day moving average price is $195.49. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt ratio of 1.55. The stock has a market capitalization of $23.15 billion, a price/earnings ratio of 27.98, a PEG ratio of 2.65 and a beta of 0.46. Extra Space Storage Inc. has a 12-month low of $156.70 and a 12-month high of $228.84.
Extra Space Storage (NYSE:EXR – Get Rating) last released its quarterly earnings data on Tuesday, May 3. The real estate investment trust reported earnings per share (EPS) of $1.51 for the quarter, missing the consensus estimate of $1.86 per ($0.35). The company posted revenue of $379.81 million in the quarter, compared to $368.88 million expected by analysts. Extra Space Storage achieved a net margin of 50.76% and a return on equity of 23.42%. The company’s quarterly revenue increased 25.1% year over year. In the same quarter last year, the company posted earnings per share of $1.50. As a group, equity research analysts expect Extra Space Storage Inc. to post EPS of 8.25 for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30. Investors of record on Wednesday, June 15 will receive a dividend of $1.50. The ex-dividend date is Tuesday, June 14. This represents an annualized dividend of $6.00 and a yield of 3.48%. Extra Space Storage’s dividend payout ratio (DPR) is currently 97.40%.
Several brokerages have published reports on EXR. KeyCorp lowered its target price on Extra Space Storage shares from $224.00 to $200.00 and set an “overweight” rating on the stock in a Thursday, June 16 research note. StockNews.com reduced shares of Extra Space Storage from a “buy” rating to a “hold” rating in a Wednesday, June 15 research note. Morgan Stanley lowered its price target on shares of Extra Space Storage from $172.00 to $156.00 and set an “underweight” rating on the stock in a Wednesday May 25 research note. Evercore ISI set a target price of $198.00 on shares of Extra Space Storage in a Monday, June 20 research note. Finally, Truist Financial lowered its price target on Extra Space Storage shares from $225.00 to $200.00 and set a “buy” rating on the stock in a Wednesday, June 1 research report. One research analyst rated the stock with a sell rating, five gave the stock a hold rating, and six gave the stock a buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $201.00.
Separately, CEO Joseph D. Margolis sold 5,000 shares of the company in a transaction dated Friday, April 1. The shares were sold at an average price of $208.34, for a total value of $1,041,700.00. As a result of the sale, the CEO now directly owns 62,035 shares of the company, valued at approximately $12,924,371.90. The sale was disclosed in a legal filing with the SEC, accessible via this link. 1.52% of the shares are currently held by insiders.
About additional space storage (Get an assessment)
Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and member of the S&P 500. As of September 30, 2020, the Company owned and/or operated 1,906 storage stores self service. 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 leasable space.
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