Duality Advisers LP Invests $1.89 Million in Extra Space Storage, Inc. (NYSE:EXR)

Duality Advisers LP acquired a new position in shares of Extra Space Storage, Inc. (NYSE:EXR) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 20,462 shares of the real estate investment trust’s stock, valued at approximately $1,890,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Whittier Trust Co. lifted its holdings in shares of Extra Space Storage by 202.1% during the 2nd quarter. Whittier Trust Co. now owns 287 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 192 shares during the last quarter. Private Capital Group LLC lifted its stake in Extra Space Storage by 76.0% in the first quarter. Private Capital Group LLC now owns 542 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 234 shares during the last quarter. Verus Capital Partners LLC bought a new stake in Extra Space Storage in the fourth quarter worth $74,000. CWM Advisors LLC bought a new stake in Extra Space Storage in the first quarter worth $77,000. Finally, Sowell Financial Services LLC bought a new stake in Extra Space Storage in the first quarter worth $91,000. 98.28% of the stock is owned by institutional investors.

Shares of EXR opened at $103.34 on Friday. The stock has a market cap of $13.34 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 15.42 and a beta of 0.18. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.84 and a current ratio of 0.84. Extra Space Storage, Inc. has a fifty-two week low of $72.70 and a fifty-two week high of $124.46. The firm’s 50-day simple moving average is $95.78 and its two-hundred day simple moving average is $98.28.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.83 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.20 by ($0.37). The business had revenue of $286.70 million during the quarter, compared to analysts’ expectations of $284.34 million. Extra Space Storage had a return on equity of 16.27% and a net margin of 34.99%. Extra Space Storage’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.16 EPS. Equities research analysts predict that Extra Space Storage, Inc. will post 4.82 EPS for the current year.

In other news, CMO James Overturf sold 1,666 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $97.48, for a total transaction of $162,401.68. Following the sale, the chief marketing officer now owns 56,280 shares in the company, valued at $5,486,174.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Gwyn Goodson Mcneal sold 5,525 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $104.59, for a total transaction of $577,859.75. Following the sale, the executive vice president now owns 29,033 shares in the company, valued at approximately $3,036,561.47. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,776 shares of company stock worth $1,826,976. Corporate insiders own 2.64% of the company’s stock.

Several analysts have weighed in on EXR shares. Citigroup boosted their price target on shares of Extra Space Storage from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Goldman Sachs Group started coverage on shares of Extra Space Storage in a research note on Friday, June 26th. They issued a “buy” rating and a $111.00 price target for the company. BMO Capital Markets started coverage on shares of Extra Space Storage in a research note on Tuesday, July 21st. They issued a “hold” rating and a $106.00 price target for the company. KeyCorp downgraded shares of Extra Space Storage from a “sector weight” rating to an “underweight” rating and set a $82.00 price target for the company. in a research note on Friday, April 17th. Finally, Morgan Stanley upped their price objective on shares of Extra Space Storage from $68.00 to $83.00 and gave the company an “underweight” rating in a research note on Wednesday, July 8th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $104.82.

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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