Extra Space Storage (EXR) Shares Sold by CIBC World Markets Inc.

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CIBC World Markets Inc. reduced its holdings in shares of Extra Space Storage (NYSE:EXR) by 12.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,957 shares of the real estate investment trust’s stock after selling 1,293 shares during the quarter. CIBC World Markets Inc.’s holdings in Extra Space Storage were worth $782,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Centersquare Investment Management LLC acquired a new stake in Extra Space Storage during the 1st quarter worth approximately $85,043,000. Daiwa Securities Group Inc. lifted its holdings in Extra Space Storage by 39.2% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,333,071 shares of the real estate investment trust’s stock worth $291,177,000 after purchasing an additional 938,851 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Extra Space Storage by 144.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 673,990 shares of the real estate investment trust’s stock worth $58,880,000 after purchasing an additional 398,022 shares during the last quarter. Millennium Management LLC lifted its holdings in Extra Space Storage by 1,286.2% during the 1st quarter. Millennium Management LLC now owns 412,538 shares of the real estate investment trust’s stock worth $36,039,000 after purchasing an additional 382,778 shares during the last quarter. Finally, Prudential Financial Inc. lifted its holdings in Extra Space Storage by 105.8% during the 1st quarter. Prudential Financial Inc. now owns 589,907 shares of the real estate investment trust’s stock worth $51,534,000 after purchasing an additional 303,268 shares during the last quarter.

Several analysts recently weighed in on EXR shares. Zacks Investment Research raised Extra Space Storage from a “hold” rating to a “buy” rating and set a $97.00 price target for the company in a report on Tuesday, March 6th. Jefferies Financial Group set a $92.00 price target on Extra Space Storage and gave the stock a “hold” rating in a report on Tuesday, March 6th. Cantor Fitzgerald set a $86.00 price target on Extra Space Storage and gave the stock a “hold” rating in a report on Thursday, March 8th. SunTrust Banks reissued a “hold” rating and set a $88.00 price target on shares of Extra Space Storage in a report on Friday, April 13th. Finally, ValuEngine raised Extra Space Storage from a “hold” rating to a “buy” rating in a report on Tuesday, May 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $91.33.

Shares of NYSE EXR opened at $98.85 on Tuesday. The firm has a market capitalization of $12.59 billion, a price-to-earnings ratio of 22.57, a P/E/G ratio of 4.33 and a beta of 0.22. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 1.66. Extra Space Storage has a fifty-two week low of $73.70 and a fifty-two week high of $101.96.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, May 1st. The real estate investment trust reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by ($0.39). The company had revenue of $247.88 million during the quarter, compared to analyst estimates of $248.26 million. Extra Space Storage had a net margin of 44.28% and a return on equity of 18.85%. Extra Space Storage’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 earnings per share. equities research analysts forecast that Extra Space Storage will post 4.62 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 29th. Shareholders of record on Friday, June 15th were issued a $0.86 dividend. The ex-dividend date of this dividend was Thursday, June 14th. This is a boost from Extra Space Storage’s previous quarterly dividend of $0.78. This represents a $3.44 annualized dividend and a yield of 3.48%. Extra Space Storage’s payout ratio is currently 78.54%.

In other Extra Space Storage news, CMO James Overturf sold 4,100 shares of Extra Space Storage stock in a transaction on Tuesday, May 8th. The stock was sold at an average price of $93.56, for a total value of $383,596.00. Following the completion of the transaction, the chief marketing officer now directly owns 80,737 shares of the company’s stock, valued at approximately $7,553,753.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO P Scott Stubbs sold 9,250 shares of Extra Space Storage stock in a transaction on Tuesday, May 8th. The shares were sold at an average price of $93.40, for a total value of $863,950.00. Following the completion of the transaction, the chief financial officer now directly owns 144,973 shares of the company’s stock, valued at $13,540,478.20. The disclosure for this sale can be found here. Insiders sold a total of 29,961 shares of company stock valued at $2,775,261 over the last ninety days. Insiders own 3.52% of the company’s stock.

Extra Space Storage Company Profile

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, 2017, the Company owned and/or operated 1,483 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1,020,000 units and approximately 112 million square feet of rentable space.

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

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