Northwestern Mutual Investment Management Company LLC Reduces Position in Extra Space Storage Inc (EXR)

Northwestern Mutual Investment Management Company LLC reduced its holdings in Extra Space Storage Inc (NYSE:EXR) by 81.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,776 shares of the real estate investment trust’s stock after selling 20,675 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Extra Space Storage were worth $442,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Cleararc Capital Inc. raised its holdings in shares of Extra Space Storage by 0.7% in the 1st quarter. Cleararc Capital Inc. now owns 3,095 shares of the real estate investment trust’s stock worth $230,000 after purchasing an additional 22 shares in the last quarter. Creative Planning raised its holdings in shares of Extra Space Storage by 1.1% in the 2nd quarter. Creative Planning now owns 5,912 shares of the real estate investment trust’s stock worth $461,000 after purchasing an additional 62 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Extra Space Storage by 3.2% in the 1st quarter. Pacer Advisors Inc. now owns 2,810 shares of the real estate investment trust’s stock worth $209,000 after purchasing an additional 88 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Extra Space Storage by 0.3% in the 1st quarter. Arizona State Retirement System now owns 36,400 shares of the real estate investment trust’s stock worth $2,708,000 after purchasing an additional 100 shares in the last quarter. Finally, Kissinger Financial Services LLC raised its holdings in shares of Extra Space Storage by 0.9% in the 2nd quarter. Kissinger Financial Services LLC now owns 10,709 shares of the real estate investment trust’s stock worth $836,000 after purchasing an additional 100 shares in the last quarter.

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EXR has been the topic of a number of research reports. BidaskClub upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. KeyCorp reiterated a “buy” rating and issued a $82.00 target price on shares of Extra Space Storage in a report on Friday, August 25th. Cantor Fitzgerald reiterated a “hold” rating and issued a $77.00 target price on shares of Extra Space Storage in a report on Sunday, August 20th. Evercore ISI reiterated an “in-line” rating and issued a $80.00 target price (up from $78.00) on shares of Extra Space Storage in a report on Thursday. Finally, BMO Capital Markets started coverage on shares of Extra Space Storage in a report on Monday. They issued a “market perform” rating and a $78.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $81.78.

Shares of Extra Space Storage Inc (NYSE:EXR) opened at 78.37 on Friday. Extra Space Storage Inc has a 12-month low of $68.09 and a 12-month high of $83.23. The stock’s 50 day moving average is $77.66 and its 200-day moving average is $76.92. The firm has a market cap of $9.87 billion, a price-to-earnings ratio of 26.78 and a beta of 0.35.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, August 1st. The real estate investment trust reported $1.09 EPS for the quarter, topping the consensus estimate of $1.05 by $0.04. The firm had revenue of $276.00 million for the quarter, compared to the consensus estimate of $239.89 million. Extra Space Storage had a net margin of 36.35% and a return on equity of 15.20%. The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period last year, the company posted $0.94 EPS. On average, analysts anticipate that Extra Space Storage Inc will post $2.76 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.78 per share. The ex-dividend date is Thursday, September 14th. This represents a $3.12 annualized dividend and a yield of 3.98%. Extra Space Storage’s dividend payout ratio (DPR) is currently 107.22%.

In other Extra Space Storage news, Director Spencer Kirk sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $78.31, for a total transaction of $1,566,200.00. Following the sale, the director now directly owns 665,748 shares in the company, valued at approximately $52,134,725.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Overturf sold 1,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $75.50, for a total transaction of $98,150.00. Following the sale, the executive vice president now owns 86,275 shares in the company, valued at $6,513,762.50. The disclosure for this sale can be found here. Insiders have sold a total of 62,600 shares of company stock worth $4,909,001 over the last 90 days. Corporate insiders own 3.72% of the company’s stock.

Extra Space Storage Profile

Extra Space Storage Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, manages, acquires, develops and redevelops self-storage properties located throughout the United States. The Company operates through three segments: rental operations; tenant reinsurance, and property management, acquisition and development.

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

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