Schroder Investment Management Group Has $17.87 Million Position in Extra Space Storage Inc (EXR)
Schroder Investment Management Group increased its position in Extra Space Storage Inc (NYSE:EXR) by 5.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 226,002 shares of the real estate investment trust’s stock after purchasing an additional 11,524 shares during the period. Schroder Investment Management Group owned approximately 0.18% of Extra Space Storage worth $17,872,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Penserra Capital Management LLC bought a new position in Extra Space Storage during the 3rd quarter valued at about $131,000. Federated Investors Inc. PA bought a new position in Extra Space Storage during the 2nd quarter valued at about $218,000. Donaldson Capital Management LLC bought a new position in Extra Space Storage during the 2nd quarter valued at about $231,000. Pacer Advisors Inc. lifted its stake in Extra Space Storage by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 3,042 shares of the real estate investment trust’s stock valued at $237,000 after acquiring an additional 232 shares during the period. Finally, Commonwealth Equity Services Inc bought a new position in Extra Space Storage during the 3rd quarter valued at about $245,000.
Several equities analysts have issued reports on the stock. BidaskClub cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. Wells Fargo & Company set a $93.00 target price on shares of Extra Space Storage and gave the company a “buy” rating in a research note on Thursday, November 30th. Jefferies Group restated a “hold” rating and set a $80.00 target price on shares of Extra Space Storage in a research note on Tuesday, October 24th. Cantor Fitzgerald restated a “hold” rating and set a $77.00 target price on shares of Extra Space Storage in a research note on Sunday, August 20th. Finally, Zacks Investment Research upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a research note on Monday, November 27th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $86.73.
In other news, SVP Grace Kunde sold 350 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $87.65, for a total value of $30,677.50. Following the transaction, the senior vice president now owns 11,209 shares in the company, valued at approximately $982,468.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Spencer Kirk sold 20,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $79.64, for a total transaction of $1,592,800.00. The disclosure for this sale can be found here. Insiders sold a total of 64,250 shares of company stock worth $5,276,770 in the last quarter. Company insiders own 3.72% of the company’s stock.
Shares of Extra Space Storage Inc (EXR) traded up $0.02 during trading hours on Wednesday, hitting $84.87. 682,800 shares of the stock traded hands, compared to its average volume of 1,013,177. Extra Space Storage Inc has a 52-week low of $69.81 and a 52-week high of $88.05. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.68. The company has a market cap of $10,691.76, a PE ratio of 19.83, a PEG ratio of 3.27 and a beta of 0.39.
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 for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.03. Extra Space Storage had a net margin of 33.21% and a return on equity of 14.41%. The firm had revenue of $284.16 million for the quarter, compared to analysts’ expectations of $246.85 million. During the same quarter in the prior year, the business earned $1.02 EPS. The business’s quarterly revenue was up 10.5% on a year-over-year basis. equities analysts forecast that Extra Space Storage Inc will post 4.34 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend is Thursday, December 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 114.71%.
Extra Space Storage announced that its board has initiated a stock buyback program on Monday, November 13th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is 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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