Bank of New York Mellon Corp Increases Position in Extra Space Storage Inc (EXR)

Bank of New York Mellon Corp grew its holdings in shares of Extra Space Storage Inc (NYSE:EXR) by 8.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,385,835 shares of the real estate investment trust’s stock after purchasing an additional 111,581 shares during the period. Bank of New York Mellon Corp owned about 1.10% of Extra Space Storage worth $110,755,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Toronto Dominion Bank lifted its holdings in shares of Extra Space Storage by 12.0% during the 3rd quarter. Toronto Dominion Bank now owns 47,762 shares of the real estate investment trust’s stock worth $3,816,000 after acquiring an additional 5,108 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of Extra Space Storage by 0.9% during the 3rd quarter. New York State Common Retirement Fund now owns 268,900 shares of the real estate investment trust’s stock worth $21,490,000 after acquiring an additional 2,300 shares during the period. Sei Investments Co. lifted its holdings in shares of Extra Space Storage by 10.6% during the 3rd quarter. Sei Investments Co. now owns 285,693 shares of the real estate investment trust’s stock worth $22,833,000 after acquiring an additional 27,408 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of Extra Space Storage by 23.7% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 114,685 shares of the real estate investment trust’s stock worth $9,166,000 after acquiring an additional 21,942 shares during the period. Finally, FDx Advisors Inc. bought a new stake in shares of Extra Space Storage during the 3rd quarter worth approximately $440,000.

A number of analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Extra Space Storage from a “buy” rating to a “hold” rating in a report on Thursday. Royal Bank Of Canada upped their price target on shares of Extra Space Storage from $79.00 to $84.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 14th. Cantor Fitzgerald upped their price target on shares of Extra Space Storage from $77.00 to $81.00 and gave the stock a “neutral” rating in a report on Thursday, November 9th. Jefferies Group LLC reissued a “hold” rating and issued a $80.00 price objective on shares of Extra Space Storage in a research note on Tuesday, October 24th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $78.00 price objective on shares of Extra Space Storage in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $83.44.

In other news, SVP Grace Kunde sold 350 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $87.65, for a total transaction of $30,677.50. Following the completion of the transaction, the senior vice president now owns 11,209 shares of the company’s stock, valued at $982,468.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James Overturf sold 1,300 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $78.49, for a total transaction of $102,037.00. Following the transaction, the executive vice president now directly owns 84,975 shares of the company’s stock, valued at approximately $6,669,687.75. The disclosure for this sale can be found here. Insiders have sold 64,250 shares of company stock valued at $5,134,370 in the last ninety days. Insiders own 3.72% of the company’s stock.

Shares of Extra Space Storage Inc (EXR) traded down $0.24 during trading hours on Friday, reaching $87.42. 860,600 shares of the company traded hands, compared to its average volume of 1,011,580. The company has a market cap of $11,015.60, a P/E ratio of 20.42, a price-to-earnings-growth ratio of 3.38 and a beta of 0.38. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.75 and a current ratio of 0.75. Extra Space Storage Inc has a fifty-two week low of $68.61 and a fifty-two week high of $88.05.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $1.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.03. The business had revenue of $284.16 million during the quarter, compared to the consensus estimate of $246.85 million. Extra Space Storage had a net margin of 33.21% and a return on equity of 14.41%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.02 EPS. equities analysts predict that Extra Space Storage Inc will post 4.32 earnings per share for the current fiscal year.

Extra Space Storage announced that its board has authorized a stock buyback program on Monday, November 13th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the real estate investment trust to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Thursday, December 14th. Extra Space Storage’s payout ratio is currently 114.71%.

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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.

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

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