Taylor Frigon Capital Management LLC reduced its position in shares of Extra Space Storage, Inc. (NYSE:EXR) by 5.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,480 shares of the real estate investment trust’s stock after selling 546 shares during the period. Taylor Frigon Capital Management LLC’s holdings in Extra Space Storage were worth $1,111,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Xact Kapitalforvaltning AB raised its position in Extra Space Storage by 9.8% during the second quarter. Xact Kapitalforvaltning AB now owns 26,053 shares of the real estate investment trust’s stock valued at $2,764,000 after purchasing an additional 2,315 shares in the last quarter. Norges Bank acquired a new position in Extra Space Storage during the fourth quarter valued at approximately $98,655,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Extra Space Storage by 7.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,442 shares of the real estate investment trust’s stock valued at $758,000 after purchasing an additional 540 shares in the last quarter. Toronto Dominion Bank raised its position in Extra Space Storage by 48.2% during the first quarter. Toronto Dominion Bank now owns 119,997 shares of the real estate investment trust’s stock valued at $12,226,000 after purchasing an additional 39,054 shares in the last quarter. Finally, Andra AP fonden acquired a new position in Extra Space Storage during the first quarter valued at approximately $6,583,000. Institutional investors and hedge funds own 99.70% of the company’s stock.
Shares of NYSE EXR traded up $0.15 during midday trading on Friday, reaching $110.10. 9,306 shares of the company were exchanged, compared to its average volume of 601,163. The company’s 50-day moving average price is $108.72. The stock has a market capitalization of $13.99 billion, a PE ratio of 23.55, a P/E/G ratio of 5.16 and a beta of 0.23. Extra Space Storage, Inc. has a one year low of $83.70 and a one year high of $112.62. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.80.
Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.02. The firm had revenue of $271.00 million for the quarter, compared to analysts’ expectations of $266.01 million. Extra Space Storage had a net margin of 37.12% and a return on equity of 16.56%. The company’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.09 earnings per share. Analysts forecast that Extra Space Storage, Inc. will post 4.82 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend was Thursday, June 13th. This is a boost from Extra Space Storage’s previous quarterly dividend of $0.86. Extra Space Storage’s payout ratio is presently 77.09%.
In related news, EVP James Overturf sold 880 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $111.78, for a total value of $98,366.40. Following the sale, the executive vice president now owns 66,969 shares of the company’s stock, valued at $7,485,794.82. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP P Scott Stubbs sold 8,000 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $106.92, for a total transaction of $855,360.00. Following the completion of the sale, the vice president now directly owns 153,012 shares in the company, valued at approximately $16,360,043.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,805 shares of company stock worth $2,438,849. Insiders own 3.29% of the company’s stock.
Several brokerages have commented on EXR. Zacks Investment Research downgraded shares of Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. BMO Capital Markets restated a “hold” rating and set a $45.00 price objective on shares of SAP in a research report on Wednesday, May 1st. Finally, Evercore ISI cut shares of Essex Property Trust from an “outperform” rating to an “in-line” rating in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $97.65.
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 December 31, 2018, the Company owned and/or operated 1,647 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.2 million units and approximately 125.7 million square feet of rentable space.
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