M&T Bank Corp boosted its stake in Extra Space Storage (NYSE:EXR) by 11.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,723 shares of the real estate investment trust’s stock after buying an additional 1,243 shares during the quarter. M&T Bank Corp’s holdings in Extra Space Storage were worth $1,025,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Conning Inc. acquired a new stake in Extra Space Storage in the 4th quarter valued at $202,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Extra Space Storage in the 4th quarter valued at $245,000. Fox Run Management L.L.C. acquired a new stake in Extra Space Storage in the 4th quarter valued at $250,000. Jane Street Group LLC acquired a new stake in Extra Space Storage in the 4th quarter valued at $257,000. Finally, Everence Capital Management Inc. acquired a new stake in Extra Space Storage in the 4th quarter valued at $259,000.
Extra Space Storage stock opened at $91.98 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $11.60 billion, a price-to-earnings ratio of 20.76, a price-to-earnings-growth ratio of 3.87 and a beta of 0.19. Extra Space Storage has a 52 week low of $73.70 and a 52 week high of $95.96.
Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.55. The company had revenue of $281.84 million for the quarter, compared to analyst estimates of $283.74 million. Extra Space Storage had a return on equity of 18.85% and a net margin of 44.28%. research analysts anticipate that Extra Space Storage will post 4.62 earnings per share for the current year.
In other news, Director Diane Olmstead sold 1,436 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $87.04, for a total transaction of $124,989.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kenneth M. Woolley sold 46,779 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $86.82, for a total value of $4,061,352.78. The disclosure for this sale can be found here. Insiders have sold 87,863 shares of company stock worth $7,770,515 in the last ninety days. 3.52% of the stock is currently owned by insiders.
Several analysts recently commented on the company. Bank of America raised Extra Space Storage from a “neutral” rating to a “buy” rating and set a $105.00 price target on the stock in a research note on Tuesday, May 8th. Zacks Investment Research lowered Extra Space Storage from a “buy” rating to a “hold” rating in a research note on Monday, May 7th. BMO Capital Markets set a $84.00 price target on Extra Space Storage and gave the company a “hold” rating in a research note on Tuesday, May 1st. ValuEngine raised Extra Space Storage from a “hold” rating to a “buy” rating in a research note on Tuesday, May 1st. Finally, Cantor Fitzgerald set a $86.00 price objective on Extra Space Storage and gave the stock a “hold” rating in a research note on Thursday, March 8th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $88.83.
About Extra Space Storage
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, 2017, the Company owned and/or operated 1,483 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1,020,000 units and approximately 112 million square feet of rentable space.
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