Heitman Real Estate Securities LLC trimmed its holdings in Extra Space Storage, Inc. (NYSE:EXR) by 5.1% during the second quarter, Holdings Channel reports. The fund owned 472,774 shares of the real estate investment trust’s stock after selling 25,245 shares during the period. Extra Space Storage accounts for 2.4% of Heitman Real Estate Securities LLC’s investment portfolio, making the stock its 11th largest holding. Heitman Real Estate Securities LLC’s holdings in Extra Space Storage were worth $50,315,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. grew its stake in Extra Space Storage by 1.6% in the 2nd quarter. BlackRock Inc. now owns 12,751,604 shares of the real estate investment trust’s stock valued at $1,272,738,000 after acquiring an additional 200,476 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Extra Space Storage by 2.4% during 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 purchasing an additional 66,223 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Extra Space Storage by 205.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,059,696 shares of the real estate investment trust’s stock worth $205,577,000 after purchasing an additional 1,385,706 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Extra Space Storage by 3.7% during the 1st quarter. Northern Trust Corp now owns 2,055,920 shares of the real estate investment trust’s stock worth $179,605,000 after purchasing an additional 73,559 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Extra Space Storage by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,936,374 shares of the real estate investment trust’s stock worth $193,271,000 after purchasing an additional 21,389 shares during the last quarter.

Shares of EXR traded up $0.64 during mid-day trading on Friday, hitting $92.48. The company had a trading volume of 2,435 shares, compared to its average volume of 854,066. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.64 and a current ratio of 0.64. Extra Space Storage, Inc. has a 1-year low of $76.36 and a 1-year high of $101.96. The stock has a market capitalization of $11.69 billion, a PE ratio of 21.08, a P/E/G ratio of 3.86 and a beta of 0.19.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, July 31st. The real estate investment trust reported $1.15 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.15. Extra Space Storage had a net margin of 44.23% and a return on equity of 18.93%. The business had revenue of $258.13 million for the quarter, compared to analysts’ expectations of $257.14 million. During the same period last year, the company earned $1.09 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. sell-side analysts expect that Extra Space Storage, Inc. will post 4.63 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be given a $0.86 dividend. The ex-dividend date is Thursday, September 13th. This represents a $3.44 annualized dividend and a dividend yield of 3.72%. Extra Space Storage’s dividend payout ratio is presently 78.54%.

In related news, EVP James Overturf sold 880 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $94.58, for a total value of $83,230.40. Following the sale, the executive vice president now directly owns 73,857 shares of the company’s stock, valued at $6,985,395.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 2,640 shares of company stock worth $253,651 over the last three months. Corporate insiders own 3.52% of the company’s stock.

EXR has been the topic of several analyst reports. Zacks Investment Research cut shares of Extra Space Storage from a “buy” rating to a “hold” rating in a research note on Monday, May 7th. Bank of America raised shares of Extra Space Storage from a “neutral” rating to a “buy” rating and set a $105.00 price target on the stock in a research note on Tuesday, May 8th. Wells Fargo & Co set a $99.00 price target on shares of Extra Space Storage and gave the stock a “buy” rating in a research note on Tuesday, May 22nd. They noted that the move was a valuation call. Morgan Stanley raised their price target on shares of Extra Space Storage from $83.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 14th. Finally, Goldman Sachs Group cut shares of Extra Space Storage from a “conviction-buy” rating to a “buy” rating in a research note on Thursday, July 12th. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $94.92.

About Extra Space Storage

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 March 31, 2018, the Company owned and/or operated 1,523 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1,050,000 units and approximately 115 million square feet of rentable space.

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

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