120,900 Shares in Extra Space Storage Inc (EXR) Purchased by Timbercreek Asset Management Ltd.
Timbercreek Asset Management Ltd. purchased a new stake in Extra Space Storage Inc (NYSE:EXR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 120,900 shares of the real estate investment trust’s stock, valued at approximately $9,430,000. Extra Space Storage comprises approximately 2.9% of Timbercreek Asset Management Ltd.’s holdings, making the stock its 16th largest position. Timbercreek Asset Management Ltd. owned about 0.10% of Extra Space Storage as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Atria Investments LLC bought a new stake in shares of Extra Space Storage during the 2nd quarter valued at about $213,000. Janney Montgomery Scott LLC bought a new stake in shares of Extra Space Storage during the 1st quarter valued at about $204,000. Federated Investors Inc. PA bought a new stake in shares of Extra Space Storage during the 2nd quarter valued at about $218,000. Pacer Advisors Inc. boosted its position in shares of Extra Space Storage by 3.2% during the 1st quarter. Pacer Advisors Inc. now owns 2,810 shares of the real estate investment trust’s stock valued at $209,000 after purchasing an additional 88 shares in the last quarter. Finally, Global X Management Co. LLC boosted its position in shares of Extra Space Storage by 42.4% during the 1st quarter. Global X Management Co. LLC now owns 2,830 shares of the real estate investment trust’s stock valued at $211,000 after purchasing an additional 842 shares in the last quarter.
Shares of Extra Space Storage Inc (NYSE:EXR) traded up 0.39% on Thursday, reaching $79.77. The company’s stock had a trading volume of 93,491 shares. Extra Space Storage Inc has a 12-month low of $68.09 and a 12-month high of $83.23. The company’s 50 day moving average price is $77.77 and its 200 day moving average price is $76.89. The company has a market cap of $10.05 billion, a P/E ratio of 27.26 and a beta of 0.35.
Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.04. The business had revenue of $276.00 million for the quarter, compared to analysts’ expectations of $239.89 million. Extra Space Storage had a return on equity of 15.20% and a net margin of 36.35%. The business’s revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.94 EPS. Analysts forecast that Extra Space Storage Inc will post $2.76 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.78 per share. The ex-dividend date is Thursday, September 14th. This represents a $3.12 annualized dividend and a yield of 3.93%. Extra Space Storage’s payout ratio is 107.22%.
In other Extra Space Storage news, Director Spencer Kirk sold 20,000 shares of Extra Space Storage stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $78.31, for a total transaction of $1,566,200.00. Following the sale, the director now directly owns 665,748 shares of the company’s stock, valued at approximately $52,134,725.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP James Overturf sold 1,300 shares of Extra Space Storage stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $75.50, for a total value of $98,150.00. Following the sale, the executive vice president now directly owns 86,275 shares in the company, valued at $6,513,762.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,900 shares of company stock worth $5,011,038. Insiders own 3.72% of the company’s stock.
Several equities research analysts recently commented on EXR shares. BidaskClub upgraded Extra Space Storage from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Bank of America Corporation lowered Extra Space Storage from a “buy” rating to a “neutral” rating and cut their target price for the company from $83.00 to $81.00 in a research report on Thursday, July 20th. Cantor Fitzgerald restated a “hold” rating and set a $77.00 target price on shares of Extra Space Storage in a research report on Sunday, August 20th. KeyCorp restated a “buy” rating and set a $82.00 target price on shares of Extra Space Storage in a research report on Friday, August 25th. Finally, BMO Capital Markets started coverage on Extra Space Storage in a research report on Monday, September 11th. They set a “market perform” rating and a $78.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $81.78.
Extra Space Storage Profile
Extra Space Storage Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, manages, acquires, develops and redevelops self-storage properties located throughout the United States. The Company operates through three segments: rental operations; tenant reinsurance, and property management, acquisition and development.
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