Extra Space Storage, Inc. (EXR) Stake Lessened by Sumitomo Mitsui Asset Management Company LTD

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Sumitomo Mitsui Asset Management Company LTD lessened its stake in Extra Space Storage, Inc. (NYSE:EXR) by 6.6% in the 1st quarter, Holdings Channel reports. The firm owned 14,439 shares of the real estate investment trust’s stock after selling 1,019 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Extra Space Storage were worth $1,471,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of EXR. Raymond James & Associates grew its stake in shares of Extra Space Storage by 2.7% during the 1st quarter. Raymond James & Associates now owns 30,760 shares of the real estate investment trust’s stock valued at $3,135,000 after purchasing an additional 820 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in shares of Extra Space Storage by 2.7% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 13,397 shares of the real estate investment trust’s stock valued at $1,365,000 after purchasing an additional 356 shares during the period. CIBC Asset Management Inc grew its stake in shares of Extra Space Storage by 3.6% during the 1st quarter. CIBC Asset Management Inc now owns 12,526 shares of the real estate investment trust’s stock valued at $1,277,000 after purchasing an additional 441 shares during the period. Toronto Dominion Bank grew its stake in shares of Extra Space Storage by 48.2% during the 1st quarter. Toronto Dominion Bank now owns 119,997 shares of the real estate investment trust’s stock valued at $12,226,000 after purchasing an additional 39,054 shares during the period. Finally, State Treasurer State of Michigan grew its stake in shares of Extra Space Storage by 1.1% during the 1st quarter. State Treasurer State of Michigan now owns 36,648 shares of the real estate investment trust’s stock valued at $3,735,000 after purchasing an additional 400 shares during the period. 99.98% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have issued reports on the company. Zacks Investment Research downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Thursday, April 4th. BMO Capital Markets restated a “hold” rating and set a $94.00 price target on shares of Extra Space Storage in a research note on Wednesday, May 1st. Raymond James downgraded Extra Space Storage from an “outperform” rating to a “market perform” rating and set a $99.27 price target for the company. in a research note on Thursday, March 21st. Finally, ValuEngine downgraded Extra Space Storage from a “buy” rating to a “hold” rating in a research note on Friday, February 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Extra Space Storage currently has a consensus rating of “Hold” and a consensus price target of $97.93.

Shares of NYSE:EXR traded up $0.44 during mid-day trading on Tuesday, reaching $106.31. 9,138 shares of the company traded hands, compared to its average volume of 865,786. The company has a market cap of $13.49 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 4.67 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 announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.02. The company 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 period in the previous year, the company posted $1.09 EPS. Equities research analysts predict that Extra Space Storage, Inc. will post 4.81 earnings per share for the current fiscal year.

In related news, Director Spencer Kirk sold 45,000 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $95.92, for a total transaction of $4,316,400.00. Following the completion of the transaction, the director now directly owns 502,529 shares in the company, valued at approximately $48,202,581.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Joseph D. Margolis sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $100.05, for a total value of $250,125.00. Following the transaction, 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 quarter, insiders have sold 146,856 shares of company stock valued at $14,260,018. 3.29% of the stock is currently owned by corporate insiders.

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

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