Ontario Teachers Pension Plan Board Sells 17,998 Shares of Extra Space Storage, Inc. (NYSE:EXR)

Ontario Teachers Pension Plan Board decreased its position in Extra Space Storage, Inc. (NYSE:EXR) by 61.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,350 shares of the real estate investment trust’s stock after selling 17,998 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Extra Space Storage were worth $1,087,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Extra Space Storage by 1.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,340 shares of the real estate investment trust’s stock valued at $881,000 after purchasing an additional 105 shares during the period. Signaturefd LLC raised its position in shares of Extra Space Storage by 39.0% in the fourth quarter. Signaturefd LLC now owns 449 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 126 shares during the period. CSat Investment Advisory L.P. increased its position in Extra Space Storage by 33.8% during the fourth quarter. CSat Investment Advisory L.P. now owns 519 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 131 shares during the period. Colony Group LLC increased its position in Extra Space Storage by 0.6% during the fourth quarter. Colony Group LLC now owns 23,557 shares of the real estate investment trust’s stock worth $2,488,000 after acquiring an additional 145 shares during the period. Finally, Cresset Asset Management LLC increased its position in Extra Space Storage by 7.3% during the fourth quarter. Cresset Asset Management LLC now owns 2,433 shares of the real estate investment trust’s stock worth $257,000 after acquiring an additional 166 shares during the period. 99.45% of the stock is currently owned by institutional investors.

A number of brokerages recently issued reports on EXR. SunTrust Banks dropped their target price on shares of Extra Space Storage from $114.00 to $102.00 and set a “hold” rating on the stock in a research report on Friday, April 17th. KeyCorp lowered shares of Extra Space Storage from a “sector weight” rating to an “underweight” rating and set a $82.00 target price on the stock. in a research report on Friday, April 17th. Citigroup raised shares of Extra Space Storage from a “neutral” rating to a “buy” rating and set a $119.00 target price on the stock in a research report on Tuesday, April 7th. BMO Capital Markets reaffirmed a “hold” rating and set a $106.00 target price on shares of Extra Space Storage in a research report on Wednesday, February 19th. Finally, Morgan Stanley dropped their target price on shares of Extra Space Storage from $94.00 to $68.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 28th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $101.20.

Shares of Extra Space Storage stock opened at $86.23 on Friday. The firm has a market capitalization of $11.22 billion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 9.92 and a beta of 0.17. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.84 and a quick ratio of 0.84. The company’s fifty day moving average price is $91.46 and its two-hundred day moving average price is $101.72. Extra Space Storage, Inc. has a 52-week low of $72.70 and a 52-week high of $124.46.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by ($0.37). Extra Space Storage had a net margin of 34.99% and a return on equity of 16.27%. The business had revenue of $286.70 million during the quarter, compared to the consensus estimate of $284.34 million. During the same period last year, the firm earned $1.16 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Analysts predict that Extra Space Storage, Inc. will post 4.84 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.90 dividend. The ex-dividend date is Friday, June 12th. This represents a $3.60 annualized dividend and a dividend yield of 4.17%. Extra Space Storage’s dividend payout ratio is presently 73.77%.

In other news, Director Kenneth M. Woolley sold 93,990 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $109.10, for a total value of $10,254,309.00. Following the sale, the director now owns 785,219 shares in the company, valued at approximately $85,667,392.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Spencer Kirk sold 50,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $110.06, for a total transaction of $5,503,000.00. Following the completion of the sale, the director now owns 180,469 shares in the company, valued at approximately $19,862,418.14. The disclosure for this sale can be found here. Insiders sold a total of 147,323 shares of company stock worth $16,038,660 in the last 90 days. 2.64% of the stock is owned by corporate insiders.

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

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