Duff & Phelps Investment Management Co. reduced its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 1.7% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 646,773 shares of the real estate investment trust’s stock after selling 11,050 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.52% of Extra Space Storage worth $59,852,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of EXR. Cleararc Capital Inc. bought a new position in shares of Extra Space Storage during the first quarter valued at about $284,000. Riverhead Capital Management LLC boosted its position in shares of Extra Space Storage by 200.4% in the first quarter. Riverhead Capital Management LLC now owns 70,285 shares of the real estate investment trust’s stock valued at $6,568,000 after buying an additional 46,885 shares during the last quarter. Forward Management LLC boosted its position in shares of Extra Space Storage by 427.9% in the first quarter. Forward Management LLC now owns 17,272 shares of the real estate investment trust’s stock valued at $1,614,000 after buying an additional 14,000 shares during the last quarter. UBS Group AG boosted its position in shares of Extra Space Storage by 106.3% in the first quarter. UBS Group AG now owns 186,293 shares of the real estate investment trust’s stock valued at $17,411,000 after buying an additional 96,001 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Extra Space Storage by 24.5% in the first quarter. Lazard Asset Management LLC now owns 245,272 shares of the real estate investment trust’s stock valued at $22,923,000 after buying an additional 48,271 shares during the last quarter. Institutional investors and hedge funds own 96.30% of the company’s stock.

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

Shares of Extra Space Storage Inc. (NYSE:EXR) traded up 0.13% during trading on Wednesday, hitting $76.29. 701,912 shares of the stock were exchanged. The stock has a 50-day moving average of $78.35 and a 200 day moving average of $86.31. The stock has a market cap of $9.60 billion, a P/E ratio of 38.77 and a beta of 0.64. Extra Space Storage Inc. has a 12-month low of $73.02 and a 12-month high of $94.81.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Wednesday, July 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.01. The business had revenue of $244.30 million for the quarter, compared to analysts’ expectations of $213.32 million. Extra Space Storage had a return on equity of 13.27% and a net margin of 27.43%. The business’s revenue was up 31.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 EPS. Equities analysts predict that Extra Space Storage Inc. will post $3.76 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were given a $0.78 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.09%. Extra Space Storage’s dividend payout ratio is currently 158.38%.

Several research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Extra Space Storage from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. SunTrust Banks Inc. cut shares of Extra Space Storage from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $107.00 to $100.00 in a research note on Monday, July 25th. Jefferies Group reiterated a “buy” rating on shares of Extra Space Storage in a research note on Wednesday, July 6th. DA Davidson assumed coverage on shares of Extra Space Storage in a research note on Friday, June 24th. They set a “neutral” rating and a $95.00 price target for the company. Finally, Raymond James Financial Inc. cut shares of Extra Space Storage from a “strong-buy” rating to an “outperform” rating and increased their price target for the stock from $95.00 to $106.00 in a research note on Friday, August 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Extra Space Storage presently has a consensus rating of “Hold” and a consensus target price of $92.96.

In other news, CEO Spencer Kirk sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $80.66, for a total value of $1,613,200.00. Following the sale, the chief executive officer now directly owns 734,430 shares of the company’s stock, valued at approximately $59,239,123.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.13% of the stock is owned by insiders.

Extra Space Storage Company Profile

Extra Space Storage Inc is a self-administered and self-managed real estate investment trust (REIT). The Company operates through three segments: rental operations; tenant reinsurance, and property management, acquisition and development. The Company owns, operates, manages, acquires, develops and redevelops self-storage properties (stores).

5 Day Chart for NYSE:EXR

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