Extra Space Storage (NYSE:EXR) Hits New 52-Week High at $121.42

Extra Space Storage, Inc. (NYSE:EXR) shares reached a new 52-week high during trading on Monday . The company traded as high as $121.42 and last traded at $121.24, with a volume of 19774 shares trading hands. The stock had previously closed at $120.62.

EXR has been the topic of several research analyst reports. BMO Capital Markets reissued a “hold” rating and issued a $94.00 price objective on shares of Extra Space Storage in a research note on Wednesday, May 1st. Zacks Investment Research raised Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. Finally, Stifel Nicolaus initiated coverage on Extra Space Storage in a research note on Monday. They issued a “buy” rating and a $131.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Extra Space Storage presently has an average rating of “Hold” and an average price target of $105.25.

The company has a market cap of $15.50 billion, a P/E ratio of 25.86, a PEG ratio of 5.40 and a beta of 0.22. The firm has a 50 day moving average of $113.47 and a 200-day moving average of $105.31. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 1.78.



In other Extra Space Storage news, CEO Joseph D. Margolis sold 2,500 shares of the company’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 sale, the chief executive officer now owns 111,232 shares in the company, valued at $11,680,472.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP James Overturf sold 880 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $106.85, for a total value of $94,028.00. Following the sale, the executive vice president now owns 68,729 shares of the company’s stock, valued at approximately $7,343,693.65. The disclosure for this sale can be found here. In the last three months, insiders sold 256,346 shares of company stock worth $31,027,811. 3.29% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Xact Kapitalforvaltning AB lifted its holdings in shares of Extra Space Storage by 9.8% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 26,053 shares of the real estate investment trust’s stock valued at $2,764,000 after purchasing an additional 2,315 shares during the last quarter. Navellier & Associates Inc lifted its holdings in shares of Extra Space Storage by 21.2% during the 2nd quarter. Navellier & Associates Inc now owns 7,484 shares of the real estate investment trust’s stock valued at $794,000 after purchasing an additional 1,311 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Extra Space Storage by 103.4% during the 2nd quarter. Signaturefd LLC now owns 240 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 122 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Extra Space Storage by 7.8% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,442 shares of the real estate investment trust’s stock valued at $758,000 after purchasing an additional 540 shares during the last quarter. Finally, Toronto Dominion Bank lifted its holdings 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 last quarter. Hedge funds and other institutional investors own 98.59% of the company’s stock.

About Extra Space Storage (NYSE:EXR)

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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