Rational Advisors LLC Makes New Investment in Extra Space Storage, Inc. (NYSE:EXR)

Rational Advisors LLC bought a new stake in Extra Space Storage, Inc. (NYSE:EXR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,184 shares of the real estate investment trust’s stock, valued at approximately $442,000.

Other large investors have also bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Extra Space Storage by 6.1% in the second quarter. BlackRock Inc. now owns 14,115,936 shares of the real estate investment trust’s stock worth $1,497,702,000 after acquiring an additional 813,228 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Extra Space Storage by 50.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,444,197 shares of the real estate investment trust’s stock worth $363,776,000 after buying an additional 1,156,042 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Extra Space Storage by 3.9% during the fourth quarter. Principal Financial Group Inc. now owns 3,232,808 shares of the real estate investment trust’s stock worth $341,449,000 after buying an additional 121,544 shares in the last quarter. PGGM Investments grew its holdings in shares of Extra Space Storage by 32.6% during the fourth quarter. PGGM Investments now owns 2,621,007 shares of the real estate investment trust’s stock worth $276,831,000 after buying an additional 645,073 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Extra Space Storage by 72.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,650,190 shares of the real estate investment trust’s stock worth $192,775,000 after buying an additional 691,527 shares in the last quarter. 97.53% of the stock is owned by hedge funds and other institutional investors.

In other Extra Space Storage news, COO Samrat Sondhi sold 10,144 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $107.33, for a total value of $1,088,755.52. Following the completion of the transaction, the chief operating officer now directly owns 76,143 shares in the company, valued at $8,172,428.19. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO James Overturf sold 833 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $111.52, for a total value of $92,896.16. Following the transaction, the chief marketing officer now directly owns 59,630 shares in the company, valued at approximately $6,649,937.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,190 shares of company stock worth $1,627,338. 3.29% of the stock is owned by company insiders.

Several equities research analysts have commented on the company. JPMorgan Chase & Co. began coverage on Extra Space Storage in a research note on Wednesday, January 22nd. They issued a “neutral” rating and a $115.00 target price on the stock. Wells Fargo & Co decreased their price target on shares of Extra Space Storage from $130.00 to $117.00 and set an “overweight” rating for the company in a research note on Wednesday, December 18th. Finally, Morgan Stanley decreased their price target on shares of Extra Space Storage from $105.00 to $94.00 and set an “underweight” rating for the company in a research note on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Extra Space Storage has an average rating of “Hold” and a consensus target price of $112.81.

Shares of Extra Space Storage stock traded up $2.39 during trading hours on Friday, reaching $115.43. 665,208 shares of the company’s stock were exchanged, compared to its average volume of 777,315. The stock has a market cap of $14.80 billion, a P/E ratio of 36.30, a P/E/G ratio of 4.48 and a beta of 0.17. The company has a 50 day moving average of $108.91 and a two-hundred day moving average of $112.02. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.65. Extra Space Storage, Inc. has a fifty-two week low of $91.00 and a fifty-two week high of $124.46.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.12%. Extra Space Storage’s dividend payout ratio is currently 77.09%.

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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