Retirement Systems of Alabama reduced its position in shares of Extra Space Storage, Inc. (NYSE:EXR) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 58,338 shares of the real estate investment trust’s stock after selling 842 shares during the quarter. Retirement Systems of Alabama’s holdings in Extra Space Storage were worth $5,054,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. increased its stake in shares of Extra Space Storage by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 2,847,149 shares of the real estate investment trust’s stock worth $248,727,000 after acquiring an additional 66,223 shares in the last quarter. Brown Advisory Inc. increased its stake in shares of Extra Space Storage by 13.6% in the 1st quarter. Brown Advisory Inc. now owns 4,473 shares of the real estate investment trust’s stock worth $391,000 after acquiring an additional 534 shares in the last quarter. DnB Asset Management AS increased its stake in shares of Extra Space Storage by 7.0% in the 2nd quarter. DnB Asset Management AS now owns 13,700 shares of the real estate investment trust’s stock worth $1,367,000 after acquiring an additional 900 shares in the last quarter. IFM Investors Pty Ltd increased its stake in shares of Extra Space Storage by 36.7% in the 2nd quarter. IFM Investors Pty Ltd now owns 6,337 shares of the real estate investment trust’s stock worth $632,000 after acquiring an additional 1,700 shares in the last quarter. Finally, Xact Kapitalforvaltning AB increased its stake in Extra Space Storage by 8.3% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 28,223 shares of the real estate investment trust’s stock valued at $2,817,000 after purchasing an additional 2,169 shares in the last quarter.
NYSE:EXR opened at $88.87 on Tuesday. The stock has a market cap of $11.03 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 3.65 and a beta of 0.07. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.53 and a quick ratio of 0.64. Extra Space Storage, Inc. has a fifty-two week low of $77.53 and a fifty-two week high of $101.96.
Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.17). The company had revenue of $266.70 million for the quarter, compared to analysts’ expectations of $266.81 million. Extra Space Storage had a net margin of 47.29% and a return on equity of 20.11%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.13 EPS. Equities research analysts expect that Extra Space Storage, Inc. will post 4.64 earnings per share for the current year.
EXR has been the subject of a number of analyst reports. ValuEngine lowered shares of Extra Space Storage from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Citigroup reduced their price objective on shares of Extra Space Storage from $103.00 to $92.00 and set a “hold” rating for the company in a research note on Friday, October 5th. Robert W. Baird lowered shares of Extra Space Storage from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research note on Wednesday, July 18th. Goldman Sachs Group lowered shares of Extra Space Storage from a “conviction-buy” rating to a “buy” rating in a research note on Thursday, July 12th. Finally, BMO Capital Markets set a $93.00 price objective on shares of Extra Space Storage and gave the company a “hold” rating in a research note on Tuesday, July 31st. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Extra Space Storage currently has a consensus rating of “Hold” and an average target price of $95.27.
In other news, EVP James Overturf sold 880 shares of the firm’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $87.19, for a total transaction of $76,727.20. Following the sale, the executive vice president now owns 72,977 shares of the company’s stock, valued at approximately $6,362,864.63. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 2,640 shares of company stock worth $235,849. Insiders own 3.52% of the company’s stock.
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Extra Space Storage 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 June 30, 2018, the Company owned and/or operated 1,568 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1,090,000 units and approximately 119 million square feet of rentable space.
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