Spirit of America Management Corp NY trimmed its position in shares of Extra Space Storage, Inc. (NYSE:EXR) by 16.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,050 shares of the real estate investment trust’s stock after selling 3,450 shares during the period. Spirit of America Management Corp NY’s holdings in Extra Space Storage were worth $1,491,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada grew its stake in Extra Space Storage by 39.8% during the second quarter. Royal Bank of Canada now owns 153,736 shares of the real estate investment trust’s stock worth $11,992,000 after buying an additional 43,793 shares in the last quarter. Santa Barbara Asset Management LLC grew its stake in Extra Space Storage by 2.2% during the third quarter. Santa Barbara Asset Management LLC now owns 1,145,411 shares of the real estate investment trust’s stock worth $91,541,000 after buying an additional 24,250 shares in the last quarter. Cbre Clarion Securities LLC acquired a new stake in Extra Space Storage during the second quarter worth about $304,239,000. QS Investors LLC boosted its stake in shares of Extra Space Storage by 42.7% in the 2nd quarter. QS Investors LLC now owns 10,690 shares of the real estate investment trust’s stock valued at $834,000 after purchasing an additional 3,200 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Extra Space Storage by 13.3% in the 3rd quarter. Janus Henderson Group PLC now owns 46,544 shares of the real estate investment trust’s stock valued at $3,720,000 after purchasing an additional 5,461 shares in the last quarter.

A number of research firms have recently weighed in on EXR. Morgan Stanley upgraded shares of Extra Space Storage from an “underweight” rating to an “equal weight” rating and set a $83.00 price target on the stock in a research note on Wednesday, December 13th. Zacks Investment Research downgraded shares of Extra Space Storage from a “buy” rating to a “hold” rating in a research note on Thursday, November 23rd. Royal Bank of Canada raised their price target on shares of Extra Space Storage from $79.00 to $84.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 14th. Jefferies Group set a $90.00 price target on shares of Extra Space Storage and gave the company a “hold” rating in a research note on Tuesday, November 28th. Finally, Cantor Fitzgerald raised their price target on shares of Extra Space Storage from $77.00 to $81.00 and gave the company a “neutral” rating in a research note on Thursday, November 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $86.42.

In related news, Director Spencer Kirk sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $81.38, for a total value of $1,627,600.00. Following the completion of the transaction, the director now owns 665,748 shares in the company, valued at approximately $54,178,572.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP James Overturf sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $86.26, for a total transaction of $112,138.00. Following the completion of the transaction, the executive vice president now owns 81,075 shares of the company’s stock, valued at approximately $6,993,529.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,250 shares of company stock valued at $3,694,071. 3.72% of the stock is owned by company insiders.

Shares of Extra Space Storage, Inc. (NYSE EXR) traded up $0.46 during midday trading on Wednesday, reaching $82.71. 882,700 shares of the company were exchanged, compared to its average volume of 915,420. The company has a market cap of $10,530.00, a price-to-earnings ratio of 30.41, a PEG ratio of 3.08 and a beta of 0.39. Extra Space Storage, Inc. has a 1-year low of $71.34 and a 1-year high of $88.56. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.68.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. The business had revenue of $284.16 million during the quarter, compared to analyst estimates of $246.85 million. Extra Space Storage had a net margin of 33.21% and a return on equity of 14.41%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the business earned $1.02 EPS. analysts predict that Extra Space Storage, Inc. will post 4.35 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a $0.78 dividend. The ex-dividend date was Thursday, December 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.77%. Extra Space Storage’s dividend payout ratio (DPR) is presently 114.71%.

Extra Space Storage declared that its Board of Directors has initiated a share repurchase plan on Monday, November 13th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

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Extra Space Storage Company Profile

Extra Space Storage Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, manages, acquires, develops and redevelops self-storage properties located throughout the United States. The Company operates through three segments: rental operations; tenant reinsurance, and property management, acquisition and development.

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

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