Parametric Portfolio Associates LLC Has $31.27 Million Stock Holdings in Extra Space Storage, Inc. (NYSE:EXR)
Parametric Portfolio Associates LLC grew its stake in shares of Extra Space Storage, Inc. (NYSE:EXR) by 2.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 267,692 shares of the real estate investment trust’s stock after acquiring an additional 7,241 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.21% of Extra Space Storage worth $31,272,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC boosted its stake in Extra Space Storage by 116.7% in the second quarter. FinTrust Capital Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 126 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Extra Space Storage by 103.4% in the second quarter. Signaturefd LLC now owns 240 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 122 shares during the last quarter. Garrett Wealth Advisory Group LLC bought a new position in shares of Extra Space Storage in the third quarter worth about $34,000. CSat Investment Advisory L.P. boosted its stake in shares of Extra Space Storage by 68.5% in the 2nd quarter. CSat Investment Advisory L.P. now owns 406 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 165 shares in the last quarter. Finally, Advisory Services Network LLC boosted its stake in shares of Extra Space Storage by 87.1% in the 2nd quarter. Advisory Services Network LLC now owns 593 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 276 shares in the last quarter. Hedge funds and other institutional investors own 96.99% of the company’s stock.
In related news, insider Byambasaikhan Bayanjargal 5,000,000 shares of Extra Space Storage stock in a transaction on Monday, November 25th. Also, CMO James Overturf sold 440 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.78, for a total value of $51,383.20. Following the completion of the sale, the chief marketing officer now owns 65,209 shares in the company, valued at approximately $7,615,107.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,820 shares of company stock worth $434,481. 3.29% of the stock is owned by company insiders.
Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.83 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.24 by ($0.41). Extra Space Storage had a return on equity of 15.63% and a net margin of 34.38%. The business had revenue of $290.92 million for the quarter, compared to the consensus estimate of $285.72 million. During the same period in the previous year, the firm earned $1.19 earnings per share. The company’s revenue was up 9.1% compared to the same quarter last year. As a group, research analysts anticipate that Extra Space Storage, Inc. will post 4.86 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.39%. Extra Space Storage’s dividend payout ratio (DPR) is presently 77.09%.
A number of equities analysts recently issued reports on the stock. Morgan Stanley cut shares of Extra Space Storage from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $93.00 to $105.00 in a research report on Monday, September 16th. Robert W. Baird set a $121.00 target price on shares of Extra Space Storage and gave the company a “hold” rating in a research report on Wednesday, August 21st. Wells Fargo & Co boosted their target price on shares of Extra Space Storage from $114.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Stifel Nicolaus started coverage on shares of Extra Space Storage in a report on Monday, August 19th. They set a “buy” rating and a $131.00 price target for the company. Finally, Zacks Investment Research cut Extra Space Storage from a “buy” rating to a “hold” rating and set a $125.00 price target for the company. in a research note on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $115.53.
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 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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