Kentucky Retirement Systems Acquires Shares of 5,503 Extra Space Storage, Inc. (EXR)
Kentucky Retirement Systems acquired a new position in shares of Extra Space Storage, Inc. (NYSE:EXR) during the 4th quarter, Holdings Channel reports. The fund acquired 5,503 shares of the real estate investment trust’s stock, valued at approximately $498,000.
Several other large investors also recently bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Extra Space Storage during the 4th quarter worth about $226,000. UBS Oconnor LLC bought a new position in shares of Extra Space Storage during the 4th quarter worth about $4,352,000. HRT Financial LLC bought a new position in shares of Extra Space Storage during the 4th quarter worth about $473,000. Macquarie Group Ltd. increased its holdings in shares of Extra Space Storage by 6.1% during the 4th quarter. Macquarie Group Ltd. now owns 204,482 shares of the real estate investment trust’s stock worth $18,501,000 after purchasing an additional 11,718 shares during the period. Finally, National Pension Service boosted its position in shares of Extra Space Storage by 7.6% during the 4th quarter. National Pension Service now owns 164,122 shares of the real estate investment trust’s stock valued at $16,245,000 after acquiring an additional 11,586 shares in the last quarter. Institutional investors own 98.80% of the company’s stock.
Several analysts have recently weighed in on the stock. Evercore ISI lowered shares of Extra Space Storage from an “in-line” rating to an “underperform” rating in a research report on Monday. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Wednesday, March 27th. Raymond James lowered shares of Extra Space Storage from an “outperform” rating to a “market perform” rating and set a $99.27 target price on the stock. in a research report on Thursday, March 21st. Finally, ValuEngine upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating in a research report on Wednesday, March 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $97.83.
Shares of Extra Space Storage stock opened at $101.18 on Tuesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.73. Extra Space Storage, Inc. has a twelve month low of $83.70 and a twelve month high of $102.78. The stock has a market cap of $12.97 billion, a PE ratio of 21.67, a price-to-earnings-growth ratio of 5.00 and a beta of 0.30.
Extra Space Storage (NYSE:EXR) last issued its earnings results on Wednesday, February 20th. The real estate investment trust reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.02. Extra Space Storage had a net margin of 37.36% and a return on equity of 16.40%. The business had revenue of $266.60 million for the quarter, compared to analyst estimates of $265.39 million. During the same period in the previous year, the business earned $1.17 EPS. The firm’s revenue was up 8.2% on a year-over-year basis. Research analysts forecast that Extra Space Storage, Inc. will post 4.81 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.86 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.44 dividend on an annualized basis and a yield of 3.40%. Extra Space Storage’s dividend payout ratio (DPR) is presently 73.66%.
About Extra Space Storage
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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