State of Tennessee Treasury Department lowered its stake in Extra Space Storage, Inc. (NYSE:EXR) by 1.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,449 shares of the real estate investment trust’s stock after selling 405 shares during the quarter. State of Tennessee Treasury Department’s holdings in Extra Space Storage were worth $2,916,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Extra Space Storage by 1.3% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,340 shares of the real estate investment trust’s stock valued at $881,000 after purchasing an additional 105 shares during the period. Mutual of America Capital Management LLC raised its holdings in Extra Space Storage by 0.6% during the first quarter. Mutual of America Capital Management LLC now owns 17,650 shares of the real estate investment trust’s stock worth $1,690,000 after purchasing an additional 112 shares in the last quarter. CSat Investment Advisory L.P. raised its holdings in Extra Space Storage by 33.8% during the fourth quarter. CSat Investment Advisory L.P. now owns 519 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 131 shares in the last quarter. Colony Group LLC increased its holdings in shares of Extra Space Storage by 0.6% in the 4th quarter. Colony Group LLC now owns 23,557 shares of the real estate investment trust’s stock valued at $2,488,000 after acquiring an additional 145 shares during the period. Finally, Cigna Investments Inc. New increased its stake in Extra Space Storage by 4.3% in the 1st quarter. Cigna Investments Inc. New now owns 3,623 shares of the real estate investment trust’s stock valued at $347,000 after buying an additional 150 shares during the period. Institutional investors own 98.40% of the company’s stock.

Several research firms recently commented on EXR. Morgan Stanley decreased their price objective on shares of Extra Space Storage from $94.00 to $68.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 28th. Stifel Nicolaus upped their target price on shares of Extra Space Storage from $94.00 to $113.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Raymond James downgraded shares of Extra Space Storage from a “market perform” rating to an “underperform” rating in a research note on Sunday, April 19th. JPMorgan Chase & Co. dropped their price objective on shares of Extra Space Storage from $115.00 to $105.00 and set a “neutral” rating for the company in a research note on Tuesday, March 31st. Finally, Wells Fargo & Co dropped their price objective on shares of Extra Space Storage from $101.00 to $100.00 and set an “overweight” rating for the company in a research note on Monday, June 22nd. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $104.73.

In other news, CFO P Scott Stubbs sold 8,085 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $105.58, for a total transaction of $853,614.30. Following the transaction, the chief financial officer now owns 152,873 shares in the company, valued at $16,140,331.34. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO James Overturf sold 833 shares of the stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $97.66, for a total value of $81,350.78. Following the transaction, the chief marketing officer now owns 59,612 shares in the company, valued at approximately $5,821,707.92. The disclosure for this sale can be found here. Insiders sold 18,609 shares of company stock worth $1,908,327 in the last 90 days. Corporate insiders own 2.64% of the company’s stock.

Shares of EXR stock opened at $91.83 on Tuesday. Extra Space Storage, Inc. has a twelve month low of $72.70 and a twelve month high of $124.46. The company has a market capitalization of $11.75 billion, a price-to-earnings ratio of 27.58, a PEG ratio of 10.36 and a beta of 0.20. The stock’s 50 day simple moving average is $93.32 and its 200 day simple moving average is $99.54. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.84 and a current ratio of 0.84.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.37). The company had revenue of $286.70 million during the quarter, compared to the consensus estimate of $284.34 million. Extra Space Storage had a net margin of 34.99% and a return on equity of 16.27%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.16 EPS. On average, analysts forecast that Extra Space Storage, Inc. will post 4.85 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $3.60 annualized dividend and a yield of 3.92%. Extra Space Storage’s dividend payout ratio is 73.77%.

Extra Space Storage Profile

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

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