Stifel Financial Corp Buys 13 Shares of Extra Space Storage Inc (EXR)
Stifel Financial Corp grew its stake in Extra Space Storage Inc (NYSE:EXR) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,416 shares of the real estate investment trust’s stock after purchasing an additional 13 shares during the quarter. Stifel Financial Corp’s holdings in Extra Space Storage were worth $502,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Extra Space Storage by 0.8% in the second quarter. Vanguard Group Inc. now owns 21,666,355 shares of the real estate investment trust’s stock valued at $1,689,976,000 after purchasing an additional 171,897 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Extra Space Storage by 3.0% in the second quarter. BlackRock Inc. now owns 12,091,401 shares of the real estate investment trust’s stock valued at $943,130,000 after purchasing an additional 348,554 shares in the last quarter. Cbre Clarion Securities LLC bought a new position in shares of Extra Space Storage in the second quarter valued at approximately $304,239,000. Northern Trust Corp lifted its holdings in shares of Extra Space Storage by 3.9% in the second quarter. Northern Trust Corp now owns 1,919,978 shares of the real estate investment trust’s stock valued at $149,759,000 after purchasing an additional 71,326 shares in the last quarter. Finally, PGGM Investments lifted its holdings in shares of Extra Space Storage by 2.4% in the second quarter. PGGM Investments now owns 1,890,000 shares of the real estate investment trust’s stock valued at $147,420,000 after purchasing an additional 45,000 shares in the last quarter.
Shares of Extra Space Storage Inc (NYSE EXR) opened at 81.09 on Tuesday. The company has a market capitalization of $10.22 billion, a price-to-earnings ratio of 27.71 and a beta of 0.36. Extra Space Storage Inc has a one year low of $68.09 and a one year high of $83.23. The company’s 50-day moving average price is $80.04 and its 200-day moving average price is $77.78.
Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.04. The business had revenue of $276.00 million for the quarter, compared to analysts’ expectations of $239.89 million. Extra Space Storage had a return on equity of 15.20% and a net margin of 36.35%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 EPS. On average, equities research analysts predict that Extra Space Storage Inc will post $2.76 earnings per share for the current year.
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In other news, EVP James Overturf sold 1,300 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $75.50, for a total transaction of $98,150.00. Following the transaction, the executive vice president now directly owns 86,275 shares of the company’s stock, valued at approximately $6,513,762.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Spencer Kirk sold 20,000 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $78.12, for a total value of $1,562,400.00. Following the transaction, the director now directly owns 665,748 shares in the company, valued at $52,008,233.76. The disclosure for this sale can be found here. Insiders sold a total of 43,900 shares of company stock worth $3,461,727 over the last ninety days. 3.72% of the stock is currently owned by insiders.
A number of research firms have recently weighed in on EXR. Jefferies Group LLC restated a “hold” rating and issued a $80.00 target price on shares of Extra Space Storage in a report on Tuesday, October 24th. KeyCorp reiterated a “hold” rating on shares of Extra Space Storage in a report on Wednesday, October 11th. Zacks Investment Research upgraded Extra Space Storage from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Wednesday, October 11th. BMO Capital Markets started coverage on Extra Space Storage in a report on Monday, September 11th. They set a “market perform” rating and a $78.00 price target on the stock. Finally, Bank of America Corporation lowered Extra Space Storage from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $83.00 to $81.00 in a report on Thursday, July 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $82.56.
Extra Space Storage 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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