Coldstream Capital Management Inc. Reduces Stake in Extra Space Storage, Inc. (NYSE:EXR)

Coldstream Capital Management Inc. lessened its position in Extra Space Storage, Inc. (NYSE:EXR) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,957 shares of the real estate investment trust’s stock after selling 392 shares during the period. Coldstream Capital Management Inc.’s holdings in Extra Space Storage were worth $991,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of EXR. Rehmann Capital Advisory Group increased its holdings in Extra Space Storage by 22.5% in the 4th quarter. Rehmann Capital Advisory Group now owns 566 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 104 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Extra Space Storage in the fourth quarter valued at about $226,000. Matthew Goff Investment Advisor LLC acquired a new stake in shares of Extra Space Storage in the third quarter valued at about $242,000. Exane Asset Management acquired a new stake in shares of Extra Space Storage in the third quarter valued at about $258,000. Finally, Dynamic Technology Lab Private Ltd increased its stake in shares of Extra Space Storage by 24.1% in the third quarter. Dynamic Technology Lab Private Ltd now owns 3,352 shares of the real estate investment trust’s stock valued at $290,000 after buying an additional 652 shares during the period. 98.79% of the stock is owned by institutional investors and hedge funds.

NYSE:EXR traded up $0.91 during trading hours on Friday, reaching $100.70. The stock had a trading volume of 625,095 shares, compared to its average volume of 740,020. The company has a market capitalization of $12.82 billion, a P/E ratio of 21.56, a P/E/G ratio of 4.32 and a beta of 0.30. Extra Space Storage, Inc. has a 12-month low of $83.70 and a 12-month high of $102.78. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.72 and a quick ratio of 0.72.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.02. Extra Space Storage had a return on equity of 16.40% and a net margin of 37.36%. The firm had revenue of $266.60 million during the quarter, compared to analyst estimates of $265.39 million. During the same quarter in the previous year, the company posted $1.17 earnings per share. The company’s revenue was up 8.2% compared to the same quarter last year. As a group, analysts anticipate that Extra Space Storage, Inc. will post 4.8 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.86 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.42%. Extra Space Storage’s dividend payout ratio (DPR) is 73.66%.

Several equities research analysts have recently weighed in on EXR shares. Zacks Investment Research raised Extra Space Storage from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a research note on Wednesday, January 16th. ValuEngine upgraded Extra Space Storage from a “hold” rating to a “buy” rating in a research report on Wednesday, March 6th. Finally, Raymond James lowered Extra Space Storage from an “outperform” rating to a “market perform” rating and set a $99.27 target price on the stock. in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $97.83.

In other news, EVP James Overturf sold 880 shares of the stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $99.12, for a total transaction of $87,225.60. Following the transaction, the executive vice president now directly owns 68,577 shares of the company’s stock, valued at approximately $6,797,352.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph D. Margolis sold 2,500 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $100.05, for a total value of $250,125.00. Following the completion of the sale, the chief executive officer now owns 113,732 shares of the company’s stock, valued at $11,378,886.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 130,694 shares of company stock worth $12,525,301. Insiders own 3.52% of the company’s stock.

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Extra Space Storage Profile

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, 2018, the Company owned and/or operated 1,647 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.2 million units and approximately 125.7 million square feet of rentable space.

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

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