First Trust Advisors LP increased its holdings in Extra Space Storage, Inc. (NYSE:EXR) by 261.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 108,324 shares of the real estate investment trust’s stock after purchasing an additional 78,376 shares during the period. First Trust Advisors LP owned approximately 0.08% of Extra Space Storage worth $10,006,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Guggenheim Capital LLC increased its stake in shares of Extra Space Storage by 10.8% in the 4th quarter. Guggenheim Capital LLC now owns 118,394 shares of the real estate investment trust’s stock worth $12,505,000 after acquiring an additional 11,524 shares in the last quarter. Pearl River Capital LLC increased its stake in shares of Extra Space Storage by 25.6% in the 4th quarter. Pearl River Capital LLC now owns 2,690 shares of the real estate investment trust’s stock worth $284,000 after acquiring an additional 549 shares in the last quarter. Verus Capital Partners LLC bought a new position in shares of Extra Space Storage in the 4th quarter worth about $74,000. Norges Bank bought a new position in shares of Extra Space Storage in the 4th quarter worth about $122,069,000. Finally, Franklin Resources Inc. bought a new position in shares of Extra Space Storage in the 4th quarter worth about $31,767,000. 98.28% of the stock is owned by institutional investors.

Shares of NYSE EXR opened at $103.34 on Friday. The firm’s 50-day moving average price is $95.78 and its 200-day moving average price is $98.28. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.85. The company has a market cap of $13.34 billion, a PE ratio of 31.03, a PEG ratio of 15.05 and a beta of 0.18. Extra Space Storage, Inc. has a 52-week low of $72.70 and a 52-week high of $124.46.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.37). The company had revenue of $286.70 million for the quarter, compared to analysts’ expectations of $284.34 million. Extra Space Storage had a net margin of 34.99% and a return on equity of 16.27%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.16 EPS. As a group, equities research analysts anticipate that Extra Space Storage, Inc. will post 4.82 EPS for the current fiscal year.

EXR has been the subject of several research reports. BMO Capital Markets initiated coverage on shares of Extra Space Storage in a research note on Tuesday, July 21st. They issued a “hold” rating and a $106.00 price target for the company. Raymond James lowered shares of Extra Space Storage from a “market perform” rating to an “underperform” rating in a research note on Sunday, April 19th. Stifel Nicolaus increased their price target on shares of Extra Space Storage from $94.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. SunTrust Banks reduced their price objective on shares of Extra Space Storage from $114.00 to $102.00 and set a “hold” rating for the company in a research note on Friday, April 17th. Finally, KeyCorp lowered shares of Extra Space Storage from a “sector weight” rating to an “underweight” rating and set a $82.00 price objective for the company. in a research note on Friday, April 17th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Extra Space Storage currently has a consensus rating of “Hold” and an average price target of $104.82.

In related news, CFO P Scott Stubbs sold 8,085 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $105.58, for a total value of $853,614.30. Following the transaction, the chief financial officer now owns 152,873 shares of the company’s stock, valued at $16,140,331.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gwyn Goodson Mcneal sold 5,525 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $104.59, for a total transaction of $577,859.75. Following the completion of the transaction, the executive vice president now directly owns 29,033 shares in the company, valued at approximately $3,036,561.47. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,776 shares of company stock worth $1,826,976. Insiders own 2.64% of the company’s stock.

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.

Further Reading: Price to Earnings Ratio (PE)

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

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