Echo Street Capital Management LLC purchased a new position in shares of Extra Space Storage Inc (NYSE:EXR) during the third quarter, Holdings Channel reports. The firm purchased 45,201 shares of the real estate investment trust’s stock, valued at approximately $3,589,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC raised its position in Extra Space Storage by 12.4% in the second quarter. FMR LLC now owns 10,301,036 shares of the real estate investment trust’s stock worth $953,258,000 after buying an additional 1,138,379 shares during the period. Cohen & Steers Inc. raised its position in Extra Space Storage by 34.6% in the second quarter. Cohen & Steers Inc. now owns 7,957,561 shares of the real estate investment trust’s stock worth $736,393,000 after buying an additional 2,044,686 shares during the period. Daiwa Securities Group Inc. raised its position in Extra Space Storage by 3.0% in the third quarter. Daiwa Securities Group Inc. now owns 4,226,251 shares of the real estate investment trust’s stock worth $335,606,000 after buying an additional 122,583 shares during the period. BlackRock Fund Advisors raised its position in Extra Space Storage by 3.8% in the third quarter. BlackRock Fund Advisors now owns 4,186,619 shares of the real estate investment trust’s stock worth $332,459,000 after buying an additional 153,654 shares during the period. Finally, Shinko Asset Management Co. Ltd. raised its position in Extra Space Storage by 169.3% in the third quarter. Shinko Asset Management Co. Ltd. now owns 2,834,168 shares of the real estate investment trust’s stock worth $225,061,000 after buying an additional 1,781,763 shares during the period. Hedge funds and other institutional investors own 98.96% of the company’s stock.

Institutional Ownership by Quarter for Extra Space Storage (NYSE:EXR)

Extra Space Storage Inc (NYSE:EXR) traded down 1.25% during mid-day trading on Friday, reaching $72.89. 409,663 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $74.15 and its 200 day moving average price is $79.28. Extra Space Storage Inc has a one year low of $68.09 and a one year high of $94.81. The firm has a market cap of $9.17 billion, a price-to-earnings ratio of 31.47 and a beta of 0.45.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Wednesday, October 26th. The real estate investment trust reported $1.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.03. The firm had revenue of $257.20 million for the quarter, compared to the consensus estimate of $218.17 million. Extra Space Storage had a net margin of 30.57% and a return on equity of 14.98%. The company’s revenue was up 30.2% on a year-over-year basis. During the same period last year, the firm earned $0.81 EPS. On average, equities analysts forecast that Extra Space Storage Inc will post $2.54 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Monday, December 19th were given a dividend of $0.78 per share. The ex-dividend date was Thursday, December 15th. This represents a $3.12 annualized dividend and a dividend yield of 4.23%. Extra Space Storage’s payout ratio is 134.48%.

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EXR has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Tuesday. Jefferies Group lowered shares of Extra Space Storage from a “buy” rating to a “hold” rating and set a $80.00 target price for the company. in a research report on Tuesday, December 20th. Morgan Stanley lowered shares of Extra Space Storage from an “equal weight” rating to an “underweight” rating in a research report on Monday, December 12th. BMO Capital Markets reiterated a “hold” rating and issued a $80.00 target price on shares of Extra Space Storage in a research report on Wednesday, November 9th. Finally, RBC Capital Markets lowered shares of Extra Space Storage from an “outperform” rating to a “sector perform” rating and set a $79.00 target price for the company. in a research report on Tuesday, January 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $88.36.

In other news, Director Dennis J. Letham acquired 2,000 shares of the firm’s stock in a transaction dated Friday, October 28th. The shares were purchased at an average cost of $71.76 per share, for a total transaction of $143,520.00. Following the transaction, the director now directly owns 3,088 shares of the company’s stock, valued at $221,594.88. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Spencer Kirk sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $72.29, for a total transaction of $1,445,800.00. Following the sale, the chief executive officer now owns 734,430 shares in the company, valued at $53,091,944.70. The disclosure for this sale can be found here. Insiders own 4.13% of the company’s stock.

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).

5 Day Chart for NYSE:EXR

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