Samrat Sondhi Sells 4,480 Shares of Extra Space Storage, Inc. (EXR) Stock

Extra Space Storage, Inc. (NYSE:EXR) COO Samrat Sondhi sold 4,480 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $106.99, for a total value of $479,315.20. Following the sale, the chief operating officer now owns 76,879 shares of the company’s stock, valued at approximately $8,225,284.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NYSE EXR traded down $0.10 on Wednesday, reaching $106.53. The company had a trading volume of 688,700 shares, compared to its average volume of 868,037. The company has a market capitalization of $13.72 billion, a PE ratio of 22.81, a P/E/G ratio of 4.76 and a beta of 0.30. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.80. Extra Space Storage, Inc. has a 52 week low of $83.70 and a 52 week high of $108.20.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. The business had revenue of $271.00 million during the quarter, compared to the consensus estimate of $266.01 million. Extra Space Storage had a return on equity of 16.56% and a net margin of 37.12%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.09 earnings per share. As a group, sell-side analysts predict that Extra Space Storage, Inc. will post 4.79 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in shares of Extra Space Storage by 24.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 758,261 shares of the real estate investment trust’s stock worth $65,694,000 after buying an additional 150,179 shares during the last quarter. Teachers Advisors LLC lifted its position in shares of Extra Space Storage by 2.7% in the 3rd quarter. Teachers Advisors LLC now owns 669,934 shares of the real estate investment trust’s stock worth $58,043,000 after purchasing an additional 17,411 shares during the period. TIAA CREF Investment Management LLC lifted its position in shares of Extra Space Storage by 21.4% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 571,497 shares of the real estate investment trust’s stock worth $49,515,000 after purchasing an additional 100,881 shares during the period. Legal & General Group Plc lifted its position in shares of Extra Space Storage by 0.6% in the 3rd quarter. Legal & General Group Plc now owns 911,841 shares of the real estate investment trust’s stock worth $79,002,000 after purchasing an additional 5,157 shares during the period. Finally, Vanguard Group Inc lifted its position in shares of Extra Space Storage by 0.9% in the 3rd quarter. Vanguard Group Inc now owns 20,515,679 shares of the real estate investment trust’s stock worth $1,777,479,000 after purchasing an additional 175,852 shares during the period. Institutional investors and hedge funds own 99.98% of the company’s stock.

EXR has been the subject of a number of recent research reports. Zacks Investment Research upgraded Extra Space Storage from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a research report on Wednesday, January 16th. ValuEngine downgraded Extra Space Storage from a “buy” rating to a “hold” rating in a research report on Friday, February 22nd. Raymond James downgraded Extra Space Storage from an “outperform” rating to a “market perform” rating and set a $99.27 target price for the company. in a research report on Thursday, March 21st. Finally, Evercore ISI downgraded Extra Space Storage from an “in-line” rating to an “underperform” rating in a research report on Monday, April 1st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $97.93.

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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, 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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