Cambridge Investment Research Advisors Increases Stake in Extra Space Storage (NYSE:EXR)

Financial Advisors


Cambridge Investment Research Advisors increased its position in Extra Space Storage (NYSE:EXR – rated) by 10.5% in the fourth quarter, according to its latest disclosure to the Securities and Exchange Commission. . The company held 15,530 shares in the real estate investment trust after purchasing an additional 1,480 shares during the quarter. Cambridge Investment Research Advisors’ Extra Space Storage holdings were worth $2,286,000 as of the latest filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also changed positions in EXR. Parkside Financial Bank & Trust increased his stake in Extra Space Storage by 80.0% in the third quarter. Parkside Financial Bank and Trust now owns 144 real estate investment trust shares, valued at $25,000, after purchasing an additional 64 shares last quarter. American National Bank increased its stake in Extra Space Storage by 271.7% in the fourth quarter. American National Bank bought an additional 125 shares in the last quarter and now owns 171 real estate investment trust shares worth $25,000. Ten Capital Wealth Advisors LLC acquired new shares in Extra Space Storage worth approximately $36,000 in the third quarter. Ronald Blue Trust Inc. increased its stake in Extra Space Storage by 66.2% in the fourth quarter. Ronald Blue Trust, which purchased an additional 153 shares last quarter, now owns 384 real estate investment trust shares worth $66,000. Finally, Brown Brothers Harriman & Co. increased its position in the stock of Extra Space Storage by 4,500.0% in the first quarter. Brown Brothers Harriman & Co. bought an additional 315 shares last quarter and now owns 322 real estate investment trust shares worth $66,000. Currently 95.32% of the shares are owned by hedge funds and other institutional investors.

Stock performance for additional space storage

Shares of EXR opened at $152.22 on Tuesday. Extra Space Storage Inc. hit a one-year low of $139.97 and a one-year high of $216.52. The company has a market capitalization of $20.56 billion, a price/earnings multiple of 23.93, and a beta of 0.54. The company has a debt to equity ratio of 1.82, a quick ratio of 0.27 and a current ratio of 0.27. The company’s 50-day moving average is $156.01 and its 200-day moving average is $156.15.

Extra Space Storage (NYSE:EXR – Received Ratings) last reported quarterly results on Wednesday, February 22nd. The real estate investment trust reported earnings per share (EPS) of $1.52 for the quarter, but below consensus expectations of $2.08 ($0.56). Extra Space Storage had a net profit margin of 43.79% and a return on equity of 21.62%. The company had revenue of $506.7 million in the quarter, compared with analysts’ expectations of $433.39 million. The company’s EPS in the year-ago quarter was $1.91. The revenue of the business increased by 18.4% over the same period last year. Equity analysts expect the group as a whole to post earnings per share of $8.52 this year for Extra Space Storage.

Extra Space Storage Increases Dividends

The company also recently announced a quarterly dividend, which was paid out on Friday, March 31st. A dividend of $1.62 per share was issued to shareholders of record on Wednesday, March 15. This is an increase from Extra Space Storage’s previous quarterly dividend of his $1.50. The ex-dividend date was Tuesday, March 14. This equates to an annual dividend of $6.48 and a dividend yield of 4.26%. Payout percentage for Extra Space Storage is 101.89%.

Insider activity

In related news, CMO Samrat Sondhi sold 6,290 shares of Extra Space Storage shares in a transaction on Monday, February 27th. The shares sold at an average price of $161.88 for a total transaction value of $1,018,225.20. After the sale, the chief marketing officer now directly owns 82,653 shares of the company, valued at $13,379,867.64. The sale was disclosed in documents filed with the SEC, which are available on the SEC’s website. In related news, CMO Samrat Sondhi sold 6,290 shares of Extra Space Storage shares in a transaction on Monday, February 27th. The shares sold at an average price of $161.88 for a total transaction value of $1,018,225.20. After the sale, the chief marketing officer now directly owns 82,653 shares of the company, valued at $13,379,867.64. The sale was disclosed in documents filed with the SEC, which are available on the SEC’s website. Vice President Gwynne Goodson McNeill also sold 1,500 shares of Extra Space Storage in a transaction on Thursday, March 2nd. The shares sold at an average price of $164.00, bringing the total transaction value to him $246,000. After the sale, the Executive Vice President now owns 32,290 shares of the company, valued at $5,295,560. Disclosure information regarding this sale can be found here. In the last quarter, insiders sold 13,440 shares of the company, valued at $2,172,313. Currently, 1.52% of the shares are owned by insiders.

Analyst Rating Change

A lot of analysts have been commenting on stocks lately. Wolfe Research downgraded Extra Space Storage’s stock price from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 18. They noted that the move was called for evaluation. Trust Financial raised its price target on Extra Space Storage stock to $165.00 from $160.00 and placed a “hold” rating on the stock in a research report on Wednesday, March 8. KeyCorp lowered its price target on Extra Space Storage stock from $190.00 to $172.00 in a research report on Wednesday, April 5, and set the company’s rating to “overweight.” StockNews.com upgraded the stock of Extra Space Storage from a ‘sell’ rating to a ‘hold’ rating in a research report on Thursday, May 4. Finally, in a research report on Tuesday, April 4, Raymond James upgraded Extra Space Storage’s stock price from an ‘outperform’ rating to a ‘strong buy’ rating, setting the company’s price target at $185.00. set. Two research analysts assigned the stock a sell rating, six hold ratings, three buy ratings and one strong buy rating. The stock has a Consensus Rating of Hold and a Consensus Price Target of $170.56, based on MarketBeat.com data.

Extra space storage profile

(get rating)

Extra Space Storage, Inc. is a real estate investment trust. The company operates through its self-storage business and tenant reinsurance segments. The Self Storage Business segment includes the rental business of wholly-owned stores. The Tenant Reinsurance segment includes reinsurance for risks related to the loss of merchandise stored in stores by tenants.

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