State Treasurer State of Michigan increased its position in Extra Space Storage Inc. (NYSE:EXR) by 0.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,900 shares of the real estate investment trust’s stock after buying an additional 400 shares during the period. State Treasurer State of Michigan’s holdings in Extra Space Storage were worth $3,486,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Arizona State Retirement System increased its stake in Extra Space Storage by 0.8% in the third quarter. Arizona State Retirement System now owns 36,200 shares of the real estate investment trust’s stock worth $2,875,000 after buying an additional 300 shares during the last quarter. OLD National Bancorp IN acquired a new stake in Extra Space Storage during the third quarter worth approximately $7,825,000. Wade G W & Inc. increased its stake in Extra Space Storage by 7.1% in the third quarter. Wade G W & Inc. now owns 53,874 shares of the real estate investment trust’s stock worth $4,278,000 after buying an additional 3,552 shares during the last quarter. Mizuho Trust & Banking Co. Ltd. increased its stake in Extra Space Storage by 1.3% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 225,986 shares of the real estate investment trust’s stock worth $17,946,000 after buying an additional 2,887 shares during the last quarter. Finally, Manning & Napier Advisors LLC increased its stake in Extra Space Storage by 16.0% in the third quarter. Manning & Napier Advisors LLC now owns 70,140 shares of the real estate investment trust’s stock worth $5,569,000 after buying an additional 9,670 shares during the last quarter. Institutional investors own 98.86% of the company’s stock.

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

Extra Space Storage Inc. (NYSE:EXR) traded down 0.14% during mid-day trading on Tuesday, reaching $70.85. 756,175 shares of the company’s stock traded hands. The stock has a market cap of $8.91 billion, a P/E ratio of 30.59 and a beta of 0.46. The firm has a 50-day moving average price of $73.39 and a 200-day moving average price of $82.78. Extra Space Storage Inc. has a 1-year low of $68.09 and a 1-year high of $94.81.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Wednesday, October 26th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.03. Extra Space Storage had a return on equity of 14.98% and a net margin of 30.57%. The business earned $257.20 million during the quarter, compared to the consensus estimate of $218.17 million. During the same quarter last year, the firm posted $0.81 EPS. The company’s quarterly revenue was up 30.2% on a year-over-year basis. Equities research analysts anticipate that Extra Space Storage Inc. will post $3.80 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Extra Space Storage Inc. (EXR) Stake Boosted by State Treasurer State of Michigan” was posted by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are reading this story on another publication, it was illegally stolen and reposted in violation of United States & international copyright & trademark law. The original version of this story can be accessed at https://www.thecerbatgem.com/2016/11/29/extra-space-storage-inc-exr-stake-boosted-by-state-treasurer-state-of-michigan.html.

A number of analysts recently commented on the stock. Zacks Investment Research upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Monday, October 31st. BMO Capital Markets reissued a “hold” rating and issued a $80.00 target price on shares of Extra Space Storage in a research report on Wednesday, November 9th. KeyCorp dropped their target price on shares of Extra Space Storage from $98.00 to $89.00 and set an “overweight” rating on the stock in a research report on Monday, September 12th. Jefferies Group dropped their target price on shares of Extra Space Storage from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, August 10th. Finally, Cantor Fitzgerald reissued a “hold” rating on shares of Extra Space Storage in a research report on Friday, August 26th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Extra Space Storage currently has an average rating of “Hold” and a consensus target price of $91.73.

In other news, Director Dennis J. Letham bought 2,000 shares of the company’s stock in a transaction dated Friday, October 28th. The stock was bought at an average price of $71.76 per share, with a total value of $143,520.00. Following the completion of the acquisition, the director now owns 3,088 shares of the company’s stock, valued at $221,594.88. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Spencer Kirk sold 20,000 shares of Extra Space Storage stock in a transaction 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 disclosure for this sale can be found here. Company insiders own 4.13% of the company’s stock.

About Extra Space Storage

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

Receive News & Stock Ratings for Extra Space Storage Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Extra Space Storage Inc. and related stocks with our FREE daily email newsletter.