Balyasny Asset Management LLC raised its holdings in Extra Space Storage Inc (NYSE:EXR) by 404.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,188 shares of the real estate investment trust’s stock after acquiring an additional 24,199 shares during the quarter. Balyasny Asset Management LLC’s holdings in Extra Space Storage were worth $2,355,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its holdings in Extra Space Storage by 3.2% in the first quarter. Pacer Advisors Inc. now owns 2,810 shares of the real estate investment trust’s stock valued at $209,000 after acquiring an additional 88 shares during the period. Global X Management Co. LLC lifted its holdings in Extra Space Storage by 42.4% in the first quarter. Global X Management Co. LLC now owns 2,830 shares of the real estate investment trust’s stock valued at $211,000 after acquiring an additional 842 shares during the period. Atria Investments LLC acquired a new stake in Extra Space Storage in the second quarter valued at $213,000. Achmea Investment Management B.V. acquired a new stake in Extra Space Storage in the first quarter valued at $216,000. Finally, Mackenzie Financial Corp acquired a new stake in Extra Space Storage in the first quarter valued at $218,000.
EXR has been the subject of a number of recent analyst reports. Cantor Fitzgerald reissued a “hold” rating and issued a $77.00 target price on shares of Extra Space Storage in a report on Friday, September 1st. Evercore ISI restated an “in-line” rating and issued a $80.00 price target (up previously from $78.00) on shares of Extra Space Storage in a research report on Thursday, September 14th. BMO Capital Markets started coverage on Extra Space Storage in a research report on Monday, September 11th. They issued a “market perform” rating and a $78.00 price target for the company. BidaskClub cut Extra Space Storage from a “buy” rating to a “hold” rating in a research report on Sunday, July 30th. Finally, KeyCorp restated a “buy” rating and issued a $82.00 price target on shares of Extra Space Storage in a research report on Friday, August 25th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $82.56.
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In other news, Director Spencer Kirk sold 20,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $79.09, for a total transaction of $1,581,800.00. Following the completion of the sale, the director now directly owns 665,748 shares of the company’s stock, valued at $52,654,009.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP James Overturf sold 1,300 shares of the company’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $77.27, for a total value of $100,451.00. Following the sale, the executive vice president now directly owns 87,575 shares of the company’s stock, valued at $6,766,920.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,900 shares of company stock valued at $5,037,638. 3.72% of the stock is currently owned by company insiders.
Extra Space Storage Inc (NYSE:EXR) opened at 80.57 on Thursday. Extra Space Storage Inc has a 12 month low of $68.09 and a 12 month high of $83.23. The stock has a 50 day moving average price of $79.04 and a 200-day moving average price of $77.31. The stock has a market cap of $10.15 billion, a PE ratio of 27.54 and a beta of 0.36.
Extra Space Storage (NYSE:EXR) last announced 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 during the quarter, compared to analyst estimates of $239.89 million. Extra Space Storage had a return on equity of 15.20% and a net margin of 36.35%. The company’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 earnings per share. On average, analysts expect that Extra Space Storage Inc will post $2.76 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend was Thursday, September 14th. Extra Space Storage’s dividend payout ratio is 107.22%.
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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