Pacer Advisors Inc. reduced its stake in Extra Space Storage, Inc. (NYSE:EXR) by 16.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,951 shares of the real estate investment trust’s stock after selling 2,423 shares during the quarter. Pacer Advisors Inc.’s holdings in Extra Space Storage were worth $1,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Cetera Advisor Networks LLC bought a new position in Extra Space Storage during the second quarter valued at approximately $200,000. Wade G W & Inc. grew its position in Extra Space Storage by 4.9% during the second quarter. Wade G W & Inc. now owns 94,307 shares of the real estate investment trust’s stock valued at $10,006,000 after acquiring an additional 4,435 shares during the last quarter. Bank of New York Mellon Corp grew its position in Extra Space Storage by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 1,331,969 shares of the real estate investment trust’s stock valued at $141,323,000 after acquiring an additional 34,264 shares during the last quarter. Quantamental Technologies LLC bought a new position in Extra Space Storage during the second quarter valued at approximately $1,477,000. Finally, LPL Financial LLC bought a new position in Extra Space Storage during the second quarter valued at approximately $304,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of Extra Space Storage stock traded down $0.96 on Friday, hitting $116.04. The stock had a trading volume of 23,536 shares, compared to its average volume of 818,405. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 1.78. Extra Space Storage, Inc. has a one year low of $83.70 and a one year high of $124.46. The stock has a market cap of $14.88 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 4.98 and a beta of 0.19. The stock’s 50-day simple moving average is $118.11 and its two-hundred day simple moving average is $107.66.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Friday, September 13th. Extra Space Storage’s dividend payout ratio is 77.09%.
In other news, SVP Grace Kunde sold 1,738 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $120.45, for a total value of $209,342.10. Following the transaction, the senior vice president now owns 7,202 shares in the company, valued at $867,480.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph D. Margolis sold 2,500 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold 265,524 shares of company stock worth $32,159,600 in the last 90 days. Company insiders own 3.29% of the company’s stock.
A number of research analysts have commented on the stock. Wells Fargo & Co increased their price target on shares of Extra Space Storage from $114.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Zacks Investment Research cut shares of Extra Space Storage from a “buy” rating to a “hold” rating and set a $125.00 price target on the stock. in a research report on Tuesday. Citigroup increased their price target on shares of Extra Space Storage from $103.00 to $119.00 and gave the company a “neutral” rating in a research report on Wednesday. Stifel Nicolaus assumed coverage on shares of Extra Space Storage in a research report on Monday, August 19th. They set a “buy” rating and a $131.00 price target on the stock. Finally, Robert W. Baird set a $121.00 price target on shares of Extra Space Storage and gave the company a “hold” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $117.04.
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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