Extra Space Storage (NYSE:EXR) Now Covered by Analysts at Stifel Nicolaus

Equities researchers at Stifel Nicolaus initiated coverage on shares of Extra Space Storage (NYSE:EXR) in a research note issued to investors on Monday, The Fly reports. The firm set a “buy” rating on the real estate investment trust’s stock.

A number of other equities analysts have also weighed in on EXR. BMO Capital Markets reiterated a “hold” rating and issued a $94.00 price target on shares of Extra Space Storage in a research report on Wednesday, May 1st. Zacks Investment Research upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $98.82.

EXR stock traded up $1.09 during trading hours on Monday, hitting $121.71. 618,824 shares of the stock traded hands, compared to its average volume of 829,708. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 1.78. Extra Space Storage has a one year low of $83.70 and a one year high of $122.03. The company has a market cap of $15.52 billion, a P/E ratio of 26.06, a P/E/G ratio of 5.41 and a beta of 0.22. The stock has a 50-day simple moving average of $112.00 and a 200 day simple moving average of $104.84.

In related news, CEO Joseph D. Margolis sold 2,500 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $105.01, for a total value of $262,525.00. Following the completion of the sale, the chief executive officer now directly owns 111,232 shares of the company’s stock, valued at approximately $11,680,472.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP James Overturf sold 880 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $111.78, for a total value of $98,366.40. Following the completion of the sale, the executive vice president now directly owns 66,969 shares of the company’s stock, valued at $7,485,794.82. The disclosure for this sale can be found here. Insiders sold a total of 5,763 shares of company stock valued at $616,906 in the last quarter. 3.29% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Nuveen Asset Management LLC raised its stake in shares of Extra Space Storage by 2,311.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,292,383 shares of the real estate investment trust’s stock worth $137,122,000 after purchasing an additional 1,238,784 shares in the last quarter. Cohen & Steers Inc. raised its stake in shares of Extra Space Storage by 9.5% during the 2nd quarter. Cohen & Steers Inc. now owns 10,717,434 shares of the real estate investment trust’s stock worth $1,137,120,000 after purchasing an additional 934,146 shares in the last quarter. BlackRock Inc. raised its stake in shares of Extra Space Storage by 6.1% during the 2nd quarter. BlackRock Inc. now owns 14,115,936 shares of the real estate investment trust’s stock worth $1,497,702,000 after purchasing an additional 813,228 shares in the last quarter. APG Asset Management US Inc. raised its stake in shares of Extra Space Storage by 61.3% during the 2nd quarter. APG Asset Management US Inc. now owns 2,072,941 shares of the real estate investment trust’s stock worth $219,939,000 after purchasing an additional 787,468 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in shares of Extra Space Storage by 24.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,386,588 shares of the real estate investment trust’s stock worth $345,127,000 after purchasing an additional 657,927 shares in the last quarter. 98.59% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Extra Space Storage (NYSE:EXR)

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