Capital Asset Advisory Services LLC Acquires Shares of 901 Extra Space Storage Inc. (NYSE:EXR)


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Capital Asset Advisory Services LLC acquired a new stake in Extra Space Storage Inc. (NYSE:EXR) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 901 shares of the real estate investment trust’s stock, valued at approximately $104,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EXR. Cetera Advisor Networks LLC grew its holdings in Extra Space Storage by 42.0% in the 3rd quarter. Cetera Advisor Networks LLC now owns 2,487 shares of the real estate investment trust’s stock valued at $266,000 after buying an additional 735 shares in the last quarter. Truist Financial Corp grew its holdings in Extra Space Storage by 3.6% in the 3rd quarter. Truist Financial Corp now owns 15,904 shares of the real estate investment trust’s stock valued at $1,702,000 after buying an additional 558 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of Extra Space Storage by 25.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 15,668 shares of the real estate investment trust’s stock valued at $1,676,000 after acquiring an additional 3,200 shares during the period. Weld Capital Management LLC bought a new stake in shares of Extra Space Storage during the 3rd quarter valued at $501,000. Finally, Peapack Gladstone Financial Corp lifted its position in shares of Extra Space Storage by 2.1% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 17,704 shares of the real estate investment trust’s stock valued at $1,894,000 after acquiring an additional 367 shares during the period. 96.89% of the stock is currently owned by hedge funds and other institutional investors.

EXR has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Extra Space Storage from a “buy” rating to a “hold” rating and set a $118.00 target price for the company. in a research report on Tuesday, January 12th. JPMorgan Chase & Co. upgraded Extra Space Storage from a “neutral” rating to an “overweight” rating and set a $124.00 target price for the company in a research report on Monday, December 21st. Wells Fargo & Company upped their target price on Extra Space Storage from $125.00 to $147.00 and gave the company an “overweight” rating in a research report on Monday, March 29th. Truist upped their target price on Extra Space Storage from $125.00 to $137.00 in a research report on Friday, March 5th. Finally, Raymond James upgraded Extra Space Storage from a “market perform” rating to an “outperform” rating and set a $125.00 price objective for the company in a research report on Thursday, February 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. Extra Space Storage currently has an average rating of “Buy” and an average price target of $126.08.

Extra Space Storage stock opened at $137.60 on Thursday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.91. The company has a market capitalization of $18.17 billion, a PE ratio of 40.83, a P/E/G ratio of 5.80 and a beta of 0.17. Extra Space Storage Inc. has a 12 month low of $80.86 and a 12 month high of $138.07. The stock has a 50-day moving average price of $128.15 and a two-hundred day moving average price of $117.11.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Sunday, February 21st. The real estate investment trust reported $1.19 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.16). The firm had revenue of $301.10 million during the quarter, compared to the consensus estimate of $293.09 million. Extra Space Storage had a net margin of 34.54% and a return on equity of 16.54%. Extra Space Storage’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.82 earnings per share. As a group, analysts predict that Extra Space Storage Inc. will post 5.12 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Monday, March 15th were given a $1.00 dividend. The ex-dividend date was Friday, March 12th. This is an increase from Extra Space Storage’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 2.91%. Extra Space Storage’s dividend payout ratio (DPR) is currently 81.97%.

In other Extra Space Storage news, CEO Joseph D. Margolis sold 3,750 shares of the stock in a transaction dated Thursday, April 1st. The stock was sold at an average price of $134.24, for a total value of $503,400.00. Following the completion of the transaction, the chief executive officer now directly owns 52,492 shares in the company, valued at $7,046,526.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph D. Margolis sold 56,000 shares of the stock in a transaction dated Monday, March 15th. The shares were sold at an average price of $132.69, for a total value of $7,430,640.00. Following the completion of the transaction, the chief executive officer now owns 102,492 shares of the company’s stock, valued at $13,599,663.48. The disclosure for this sale can be found here. 2.64% of the stock is currently owned by company insiders.

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 September 30, 2020, the Company owned and/or operated 1,906 self-storage stores in 40 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.4 million units and approximately 147.5 million square feet of rentable space.

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

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