Green Street Investors LLC Takes $12.36 Million Position in Extra Space Storage, Inc. (NYSE:EXR)

Green Street Investors LLC acquired a new stake in shares of Extra Space Storage, Inc. (NYSE:EXR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 105,800 shares of the real estate investment trust’s stock, valued at approximately $12,360,000. Extra Space Storage accounts for approximately 7.3% of Green Street Investors LLC’s holdings, making the stock its 4th largest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Fishman Jay A Ltd. MI purchased a new stake in shares of Extra Space Storage during the 3rd quarter valued at $204,000. Unigestion Holding SA purchased a new position in Extra Space Storage in the 3rd quarter valued at about $386,000. Creative Planning boosted its position in Extra Space Storage by 2.2% in the 3rd quarter. Creative Planning now owns 5,154 shares of the real estate investment trust’s stock valued at $602,000 after buying an additional 112 shares during the last quarter. Mackay Shields LLC boosted its position in Extra Space Storage by 38.2% in the 3rd quarter. Mackay Shields LLC now owns 34,773 shares of the real estate investment trust’s stock valued at $4,062,000 after buying an additional 9,606 shares during the last quarter. Finally, IFM Investors Pty Ltd boosted its position in Extra Space Storage by 58.5% in the 3rd quarter. IFM Investors Pty Ltd now owns 14,727 shares of the real estate investment trust’s stock valued at $1,720,000 after buying an additional 5,437 shares during the last quarter. 96.74% of the stock is owned by institutional investors.

A number of equities research analysts have recently issued reports on the stock. ValuEngine lowered shares of Extra Space Storage from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research lowered shares of Extra Space Storage from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a research note on Tuesday, September 10th. Citigroup upped their target price on shares of Extra Space Storage from $103.00 to $119.00 and gave the company a “neutral” rating in a research note on Wednesday, September 11th. Stifel Nicolaus assumed coverage on shares of Extra Space Storage in a research note on Monday, August 19th. They issued a “buy” rating and a $131.00 target price on the stock. Finally, Morgan Stanley lowered shares of Extra Space Storage from an “equal weight” rating to an “underweight” rating and upped their target price for the company from $93.00 to $105.00 in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Extra Space Storage has an average rating of “Hold” and an average target price of $115.53.

In related news, CEO Joseph D. Margolis sold 2,500 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $114.44, for a total transaction of $286,100.00. Following the sale, the chief executive officer now owns 108,732 shares in the company, valued at $12,443,290.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Spencer Kirk sold 248,103 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $121.33, for a total transaction of $30,102,336.99. Following the sale, the director now owns 153,069 shares in the company, valued at approximately $18,571,861.77. The disclosure for this sale can be found here. In the last quarter, insiders have sold 265,524 shares of company stock worth $32,186,880. 3.29% of the stock is owned by company insiders.

Shares of Extra Space Storage stock traded down $1.68 during trading on Friday, reaching $106.29. The company had a trading volume of 726,171 shares, compared to its average volume of 849,026. The company has a market cap of $13.86 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 4.60 and a beta of 0.14. The firm’s fifty day moving average is $114.34 and its 200-day moving average is $111.98. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.48 and a current ratio of 0.54. Extra Space Storage, Inc. has a fifty-two week low of $86.99 and a fifty-two week high of $124.46.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.41). The company had revenue of $290.92 million during the quarter, compared to analyst estimates of $285.72 million. Extra Space Storage had a net margin of 34.38% and a return on equity of 15.63%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.19 EPS. On average, research analysts anticipate that Extra Space Storage, Inc. will post 4.87 EPS for the current fiscal year.

Extra Space Storage Profile

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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