Centersquare Investment Management LLC grew its holdings in shares of Extra Space Storage, Inc. (NYSE:EXR) by 11.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,148,451 shares of the real estate investment trust’s stock after buying an additional 120,950 shares during the period. Extra Space Storage accounts for about 1.9% of Centersquare Investment Management LLC’s investment portfolio, making the stock its 18th biggest holding. Centersquare Investment Management LLC owned 0.90% of Extra Space Storage worth $121,851,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. FinTrust Capital Advisors LLC grew its holdings 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 in the last quarter. Signaturefd LLC grew its holdings in shares of Extra Space Storage by 103.4% during the 2nd quarter. Signaturefd LLC now owns 240 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 122 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Extra Space Storage by 2,577.8% during the 2nd quarter. Bessemer Group Inc. now owns 241 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 232 shares in the last quarter. Advisory Services Network LLC lifted its stake in shares of Extra Space Storage by 87.1% in the 2nd quarter. Advisory Services Network LLC now owns 593 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 276 shares during the last quarter. Finally, Ibex Wealth Advisors acquired a new stake in shares of Extra Space Storage in the 2nd quarter valued at $127,000. 97.28% of the stock is currently owned by institutional investors.
Several equities research analysts recently issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Extra Space Storage in a research note on Monday, August 19th. They issued a “buy” rating and a $131.00 price objective for the company. Zacks Investment Research lowered shares of Extra Space Storage from a “buy” rating to a “hold” rating and set a $125.00 target price for the company. in a research report on Tuesday. Robert W. Baird set a $121.00 target price on shares of Extra Space Storage and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Wells Fargo & Co boosted their target price on shares of Extra Space Storage from $114.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Finally, Citigroup boosted their target price on shares of Extra Space Storage from $103.00 to $119.00 and gave the stock a “neutral” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Extra Space Storage has a consensus rating of “Hold” and a consensus target price of $117.04.
NYSE EXR opened at $116.18 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 1.78. The stock has a market cap of $14.88 billion, a P/E ratio of 24.88, a PEG ratio of 4.98 and a beta of 0.19. Extra Space Storage, Inc. has a twelve month low of $83.70 and a twelve month high of $124.46. The company’s 50-day simple moving average is $118.11 and its 200 day simple moving average is $107.66.
The company also recently disclosed 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 of this dividend is Friday, September 13th. This represents a $3.60 annualized dividend and a yield of 3.10%. Extra Space Storage’s dividend payout ratio is 77.09%.
In related news, CEO Joseph D. Margolis sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $105.01, for a total value of $262,525.00. Following the sale, the chief executive officer now directly owns 111,232 shares of the company’s stock, valued at $11,680,472.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Overturf sold 880 shares of Extra Space Storage stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $111.78, for a total value of $98,366.40. Following the completion of the transaction, the executive vice president now directly owns 66,969 shares of the company’s stock, valued at approximately $7,485,794.82. The disclosure for this sale can be found here. Insiders have sold 265,524 shares of company stock worth $32,159,600 over the last ninety days. Insiders own 3.29% of the company’s stock.
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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