Northern Trust Corp lifted its stake in Extra Space Storage, Inc. (NYSE:EXR) by 2.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,881,234 shares of the real estate investment trust’s stock after buying an additional 40,540 shares during the period. Northern Trust Corp owned approximately 1.46% of Extra Space Storage worth $199,600,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. FinTrust Capital Advisors LLC lifted its position in shares of Extra Space Storage by 116.7% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 126 shares during the period. Signaturefd LLC lifted its position in Extra Space Storage by 103.4% during the second quarter. Signaturefd LLC now owns 240 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 122 shares during the period. Bessemer Group Inc. lifted its position in Extra Space Storage by 2,577.8% during the second quarter. Bessemer Group Inc. now owns 241 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 232 shares during the period. Advisory Services Network LLC grew its stake in Extra Space Storage by 87.1% during the second quarter. Advisory Services Network LLC now owns 593 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 276 shares in the last quarter. Finally, Ibex Wealth Advisors acquired a new stake in Extra Space Storage during the second quarter worth about $127,000. Institutional investors and hedge funds own 97.28% of the company’s stock.
EXR stock traded up $0.70 during trading on Wednesday, reaching $116.48. 25,458 shares of the company were exchanged, compared to its average volume of 802,052. The company has a market capitalization of $15.20 billion, a price-to-earnings ratio of 24.95, a P/E/G ratio of 5.09 and a beta of 0.19. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.48 and a quick ratio of 0.48. The company has a 50-day moving average of $117.97 and a two-hundred day moving average of $107.55. Extra Space Storage, Inc. has a twelve month low of $83.70 and a twelve month high of $124.46.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.90 per share. The ex-dividend date is Friday, September 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.09%. Extra Space Storage’s payout ratio is presently 77.09%.
In other news, Director Spencer Kirk sold 248,103 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $121.33, for a total value of $30,102,336.99. Following the completion of the transaction, the director now owns 153,069 shares of the company’s stock, valued at $18,571,861.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Grace Kunde sold 1,738 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $120.45, for a total value of $209,342.10. Following the completion of the transaction, the senior vice president now directly owns 7,202 shares of the company’s stock, valued at approximately $867,480.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 265,524 shares of company stock worth $32,159,600. Insiders own 3.29% of the company’s stock.
Several equities analysts have recently commented on EXR shares. Stifel Nicolaus assumed coverage on shares of Extra Space Storage in a research report on Monday, August 19th. They issued a “buy” rating and a $131.00 target price for the company. Robert W. Baird set a $121.00 price target on shares of Extra Space Storage and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Zacks Investment Research cut shares of Extra Space Storage from a “buy” rating to a “hold” rating and set a $125.00 price objective on the stock. in a research note on Tuesday. Citigroup boosted their price objective on shares of Extra Space Storage from $103.00 to $119.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Wells Fargo & Co upped their target price on Extra Space Storage from $114.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $117.04.
Extra Space Storage 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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