Extra Space Storage Inc. (EXR) Stake Raised by ING Groep NV
ING Groep NV increased its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 56.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,426 shares of the real estate investment trust’s stock after buying an additional 1,599 shares during the period. ING Groep NV’s holdings in Extra Space Storage were worth $410,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in EXR. Johanson Financial Advisors Inc. bought a new position in Extra Space Storage during the second quarter valued at about $208,000. Conning Inc. bought a new position in Extra Space Storage during the second quarter valued at about $229,000. Boothbay Fund Management LLC bought a new position in Extra Space Storage during the first quarter valued at about $240,000. Cleararc Capital Inc. bought a new position in Extra Space Storage during the first quarter valued at about $284,000. Finally, Fox Run Management L.L.C. bought a new position in Extra Space Storage during the second quarter valued at about $324,000. Institutional investors own 96.31% of the company’s stock.
Shares of Extra Space Storage Inc. (NYSE:EXR) traded down 0.90% during midday trading on Tuesday, reaching $74.92. 513,991 shares of the company were exchanged. The company’s 50-day moving average price is $79.19 and its 200 day moving average price is $87.00. Extra Space Storage Inc. has a 52-week low of $73.02 and a 52-week high of $94.81. The stock has a market capitalization of $9.42 billion, a price-to-earnings ratio of 38.07 and a beta of 0.64.
Extra Space Storage (NYSE:EXR) last released its earnings results on Wednesday, July 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. The company earned $244.30 million during the quarter, compared to the consensus estimate of $213.32 million. Extra Space Storage had a net margin of 27.43% and a return on equity of 13.27%. The company’s revenue was up 31.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.75 EPS. On average, equities analysts predict that Extra Space Storage Inc. will post $3.76 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 4.16%. The ex-dividend date was Tuesday, September 13th. Extra Space Storage’s payout ratio is currently 158.38%.
Several research firms have issued reports on EXR. DA Davidson upped their price objective on shares of Extra Space Storage from $90.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, July 29th. Zacks Investment Research upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and set a $104.00 target price for the company in a research note on Tuesday, July 5th. KeyCorp decreased their target price on shares of Extra Space Storage from $98.00 to $89.00 and set an “overweight” rating for the company in a research note on Monday, September 12th. Jefferies Group decreased their target price on shares of Extra Space Storage from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, August 10th. Finally, Cantor Fitzgerald reiterated a “hold” rating on shares of Extra Space Storage in a research note on Friday, August 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $92.96.
In other news, CEO Spencer Kirk sold 20,000 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $78.26, for a total value of $1,565,200.00. Following the completion of the sale, the chief executive officer now owns 734,430 shares of the company’s stock, valued at approximately $57,476,491.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.13% of the stock is currently owned by insiders.
About Extra Space Storage
Extra Space Storage Inc is a self-administered and self-managed real estate investment trust (REIT). The Company operates through three segments: rental operations; tenant reinsurance, and property management, acquisition and development. The Company owns, operates, manages, acquires, develops and redevelops self-storage properties (stores).
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