California Public Employees Retirement System Boosts Stake in Extra Space Storage, Inc. (NYSE:EXR)

California Public Employees Retirement System raised its position in Extra Space Storage, Inc. (NYSE:EXR) by 4.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 280,870 shares of the real estate investment trust’s stock after purchasing an additional 10,813 shares during the quarter. California Public Employees Retirement System owned 0.22% of Extra Space Storage worth $22,447,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Global X Management Co. LLC increased its position in shares of Extra Space Storage by 15.6% during the second quarter. Global X Management Co. LLC now owns 3,272 shares of the real estate investment trust’s stock worth $255,000 after acquiring an additional 442 shares during the period. Advisors Asset Management Inc. increased its position in shares of Extra Space Storage by 13.3% during the second quarter. Advisors Asset Management Inc. now owns 5,032 shares of the real estate investment trust’s stock worth $392,000 after acquiring an additional 590 shares during the period. State of Wisconsin Investment Board increased its position in shares of Extra Space Storage by 31.4% during the second quarter. State of Wisconsin Investment Board now owns 161,299 shares of the real estate investment trust’s stock worth $12,581,000 after acquiring an additional 38,565 shares during the period. SG Americas Securities LLC increased its position in shares of Extra Space Storage by 156.4% during the second quarter. SG Americas Securities LLC now owns 36,988 shares of the real estate investment trust’s stock worth $2,885,000 after acquiring an additional 22,564 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Extra Space Storage by 6.1% during the second quarter. Legal & General Group Plc now owns 837,539 shares of the real estate investment trust’s stock worth $65,326,000 after acquiring an additional 48,377 shares during the period.

EXR has been the topic of a number of research reports. Zacks Investment Research raised shares of Extra Space Storage from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research report on Wednesday, October 11th. Wells Fargo & Co set a $93.00 target price on shares of Extra Space Storage and gave the stock a “buy” rating in a research report on Thursday, November 30th. Robert W. Baird reaffirmed a “buy” rating and set a $92.00 target price on shares of Extra Space Storage in a research report on Wednesday, November 29th. Morgan Stanley raised shares of Extra Space Storage from an “underweight” rating to an “equal weight” rating and set a $83.00 target price on the stock in a research report on Wednesday, December 13th. Finally, Jefferies Group set a $90.00 target price on shares of Extra Space Storage and gave the stock a “hold” rating in a research report on Tuesday, November 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Extra Space Storage has an average rating of “Hold” and an average target price of $86.42.

In other Extra Space Storage news, Director Spencer Kirk sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $81.38, for a total value of $1,627,600.00. Following the completion of the sale, the director now directly owns 665,748 shares in the company, valued at $54,178,572.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP James Overturf sold 1,300 shares of the firm’s stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $81.80, for a total transaction of $106,340.00. Following the completion of the sale, the executive vice president now owns 83,675 shares of the company’s stock, valued at $6,844,615. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,250 shares of company stock worth $3,694,071. 3.72% of the stock is currently owned by corporate insiders.

Shares of Extra Space Storage, Inc. (EXR) remained flat at $$82.25 during mid-day trading on Friday. 822,266 shares of the company were exchanged, compared to its average volume of 919,056. The company has a market capitalization of $10,360.00, a PE ratio of 30.24, a price-to-earnings-growth ratio of 3.15 and a beta of 0.39. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.75 and a quick ratio of 0.75. Extra Space Storage, Inc. has a fifty-two week low of $71.34 and a fifty-two week high of $88.56.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.03. The company had revenue of $284.16 million for the quarter, compared to analyst estimates of $246.85 million. Extra Space Storage had a net margin of 35.57% and a return on equity of 16.92%. Extra Space Storage’s revenue was up 10.5% compared to the same quarter last year. During the same period last year, the company posted $1.02 earnings per share. equities research analysts forecast that Extra Space Storage, Inc. will post 4.35 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend was Thursday, December 14th. Extra Space Storage’s payout ratio is 114.71%.

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

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Extra Space Storage Company 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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