Traders Purchase Large Volume of Extra Space Storage Call Options (EXR)

Extra Space Storage, Inc. (NYSE:EXR) was the recipient of unusually large options trading activity on Monday. Traders purchased 1,248 call options on the company. This is an increase of 773% compared to the average volume of 143 call options.

In other Extra Space Storage news, VP P Scott Stubbs sold 9,250 shares of Extra Space Storage stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $85.73, for a total transaction of $793,002.50. Following the transaction, the vice president now directly owns 144,973 shares of the company’s stock, valued at approximately $12,428,535.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James Overturf sold 880 shares of Extra Space Storage stock in a transaction on Thursday, March 22nd. The stock was sold at an average price of $85.33, for a total transaction of $75,090.40. Following the transaction, the executive vice president now directly owns 81,257 shares in the company, valued at $6,933,659.81. The disclosure for this sale can be found here. Insiders have sold a total of 62,300 shares of company stock worth $5,388,931 over the last ninety days. Insiders own 3.52% of the company’s stock.

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Institutional investors and hedge funds have recently modified their holdings of the business. Fieldpoint Private Securities LLC purchased a new stake in Extra Space Storage in the third quarter worth approximately $103,000. Conning Inc. purchased a new stake in Extra Space Storage in the fourth quarter worth approximately $202,000. Janney Montgomery Scott LLC purchased a new stake in Extra Space Storage in the third quarter worth approximately $200,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Extra Space Storage during the fourth quarter valued at approximately $245,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Extra Space Storage during the fourth quarter valued at approximately $250,000.

EXR has been the topic of a number of research analyst reports. SunTrust Banks reissued a “hold” rating and issued a $88.00 price target on shares of Extra Space Storage in a report on Friday, April 13th. Jefferies Group set a $92.00 price target on shares of Extra Space Storage and gave the stock a “hold” rating in a report on Tuesday, March 6th. Zacks Investment Research raised shares of Extra Space Storage from a “hold” rating to a “buy” rating and set a $97.00 price target on the stock in a report on Tuesday, March 6th. Cantor Fitzgerald set a $83.00 price objective on Extra Space Storage and gave the company a “hold” rating in a research note on Wednesday, February 21st. Finally, BMO Capital Markets set a $78.00 price target on Extra Space Storage and gave the company a “hold” rating in a research report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $87.00.

Shares of EXR opened at $89.13 on Wednesday. The company has a market capitalization of $11,009.38, a price-to-earnings ratio of 19.99, a PEG ratio of 3.32 and a beta of 0.21. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.67. Extra Space Storage has a 1 year low of $71.34 and a 1 year high of $89.59.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, February 20th. The real estate investment trust reported $1.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.55. The business had revenue of $281.84 million during the quarter, compared to analyst estimates of $283.74 million. Extra Space Storage had a return on equity of 18.87% and a net margin of 44.67%. sell-side analysts anticipate that Extra Space Storage will post 4.59 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend was Wednesday, March 14th. Extra Space Storage’s dividend payout ratio is currently 71.23%.

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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.

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