Two Sigma Securities LLC Buys New Stake in Extra Space Storage Inc (EXR)

Two Sigma Securities LLC bought a new position in shares of Extra Space Storage Inc (NYSE:EXR) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,682 shares of the real estate investment trust’s stock, valued at approximately $274,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EXR. Janney Montgomery Scott LLC purchased a new position in Extra Space Storage during the first quarter worth approximately $204,000. Pacer Advisors Inc. raised its stake 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 buying an additional 88 shares during the last quarter. Global X Management Co. LLC raised its stake 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 buying an additional 842 shares during the last quarter. Mackenzie Financial Corp bought a new stake in Extra Space Storage during the first quarter valued at $218,000. Finally, Cleararc Capital Inc. raised its stake in Extra Space Storage by 0.7% in the first quarter. Cleararc Capital Inc. now owns 3,095 shares of the real estate investment trust’s stock valued at $230,000 after buying an additional 22 shares during the last quarter.

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

Extra Space Storage Inc (EXR) traded down 0.34% during mid-day trading on Wednesday, reaching $78.02. The company’s stock had a trading volume of 416,460 shares. The firm’s 50 day moving average price is $75.47 and its 200 day moving average price is $75.70. The stock has a market cap of $9.80 billion, a price-to-earnings ratio of 27.01 and a beta of 0.38. Extra Space Storage Inc has a 12-month low of $68.09 and a 12-month high of $94.49.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Wednesday, April 26th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.05. The firm had revenue of $263 million for the quarter, compared to the consensus estimate of $233.12 million. Extra Space Storage had a return on equity of 14.92% and a net margin of 36.40%. The company’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 EPS. On average, equities analysts predict that Extra Space Storage Inc will post $2.66 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $3.12 annualized dividend and a dividend yield of 3.99%. Extra Space Storage’s dividend payout ratio is presently 108.33%.

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Several analysts recently weighed in on the company. BidaskClub upgraded Extra Space Storage from a “hold” rating to a “buy” rating in a report on Saturday. Cantor Fitzgerald restated a “neutral” rating and set a $76.00 price target on shares of Extra Space Storage in a report on Wednesday, February 22nd. Zacks Investment Research upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a report on Wednesday, February 22nd. Jefferies Group LLC restated a “hold” rating and set a $80.00 price target on shares of Extra Space Storage in a report on Monday, April 3rd. Finally, Goldman Sachs Group Inc upgraded Extra Space Storage from a “buy” rating to a “conviction-buy” rating and set a $95.00 price target on the stock in a report on Monday, May 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $88.50.

In related news, EVP James Overturf sold 1,300 shares of the business’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $74.59, for a total value of $96,967.00. Following the sale, the executive vice president now owns 89,475 shares in the company, valued at approximately $6,673,940.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Spencer Kirk sold 20,000 shares of the business’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $75.15, for a total value of $1,503,000.00. Following the completion of the sale, the director now owns 664,430 shares in the company, valued at approximately $49,931,914.50. The disclosure for this sale can be found here. Insiders sold a total of 63,900 shares of company stock worth $4,822,587 in the last quarter. Company insiders own 3.72% of the company’s stock.

About Extra Space Storage

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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