Seeyond cut its position in shares of Extra Space Storage, Inc. (NYSE:EXR) by 41.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,621 shares of the real estate investment trust’s stock after selling 10,153 shares during the quarter. Seeyond’s holdings in Extra Space Storage were worth $1,551,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. FinTrust Capital Advisors LLC lifted its position in shares of Extra Space Storage by 116.7% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 126 shares during the last quarter. Signaturefd LLC raised its stake in Extra Space Storage by 103.4% during the second quarter. Signaturefd LLC now owns 240 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 122 shares during the period. Bessemer Group Inc. raised its stake in Extra Space Storage by 2,577.8% during the second quarter. Bessemer Group Inc. now owns 241 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 232 shares during the period. Advisory Services Network LLC lifted its holdings in Extra Space Storage by 87.1% in the second quarter. Advisory Services Network LLC now owns 593 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 276 shares during the last quarter. Finally, Ibex Wealth Advisors bought a new position in Extra Space Storage in the second quarter worth about $127,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.
In other Extra Space Storage news, CEO Joseph D. Margolis sold 2,500 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $105.01, for a total transaction of $262,525.00. Following the completion of the transaction, the chief executive officer now owns 111,232 shares in the company, valued at approximately $11,680,472.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Spencer Kirk sold 248,103 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $121.33, for a total value of $30,102,336.99. Following the completion of the transaction, the director now directly owns 153,069 shares of the company’s stock, valued at approximately $18,571,861.77. The disclosure for this sale can be found here. In the last 90 days, insiders sold 265,524 shares of company stock valued at $32,159,600. 3.29% of the stock is owned by insiders.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Friday, September 13th. Extra Space Storage’s payout ratio is 77.09%.
A number of brokerages have commented on EXR. Zacks Investment Research downgraded Extra Space Storage from a “buy” rating to a “hold” rating and set a $125.00 target price for the company. in a research note on Tuesday. Robert W. Baird set a $121.00 price target on Extra Space Storage and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Citigroup raised their price target on Extra Space Storage from $103.00 to $119.00 and gave the stock a “neutral” rating in a report on Wednesday. Stifel Nicolaus began coverage on Extra Space Storage in a research report on Monday, August 19th. They set a “buy” rating and a $131.00 price objective for the company. Finally, Wells Fargo & Co upped their price objective on Extra Space Storage from $114.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $117.04.
Extra Space Storage Company 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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