Oppenheimer Asset Management Inc. Has $1.14 Million Stake in Extra Space Storage (EXR)

Oppenheimer Asset Management Inc. reduced its stake in Extra Space Storage (NYSE:EXR) by 10.3% in the first quarter, HoldingsChannel.com reports. The fund owned 13,051 shares of the real estate investment trust’s stock after selling 1,502 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Extra Space Storage were worth $1,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of Extra Space Storage by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 1,508,360 shares of the real estate investment trust’s stock worth $131,665,000 after acquiring an additional 59,298 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of Extra Space Storage by 3.4% in the fourth quarter. TIAA CREF Investment Management LLC now owns 619,194 shares of the real estate investment trust’s stock worth $54,149,000 after buying an additional 20,591 shares in the last quarter. Comerica Bank raised its position in shares of Extra Space Storage by 5.8% in the fourth quarter. Comerica Bank now owns 43,351 shares of the real estate investment trust’s stock worth $3,708,000 after buying an additional 2,388 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its position in shares of Extra Space Storage by 3.6% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 85,426 shares of the real estate investment trust’s stock worth $7,470,000 after buying an additional 2,936 shares in the last quarter. Finally, Deutsche Bank AG raised its position in shares of Extra Space Storage by 2.5% in the fourth quarter. Deutsche Bank AG now owns 2,923,110 shares of the real estate investment trust’s stock worth $255,617,000 after buying an additional 71,286 shares in the last quarter.

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A number of equities research analysts recently issued reports on the company. ValuEngine upgraded Extra Space Storage from a “hold” rating to a “buy” rating in a research report on Tuesday, May 1st. Wells Fargo & Co set a $99.00 price objective on Extra Space Storage and gave the stock a “buy” rating in a research report on Tuesday, May 22nd. They noted that the move was a valuation call. BMO Capital Markets set a $84.00 price objective on Extra Space Storage and gave the stock a “hold” rating in a research report on Tuesday, May 1st. Bank of America upgraded Extra Space Storage from a “neutral” rating to a “buy” rating and set a $105.00 price objective on the stock in a research report on Tuesday, May 8th. Finally, Zacks Investment Research upgraded Extra Space Storage from a “hold” rating to a “buy” rating and set a $97.00 price objective on the stock in a research report on Tuesday, March 6th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $89.33.

Extra Space Storage opened at $96.25 on Friday, according to MarketBeat.com. Extra Space Storage has a twelve month low of $73.70 and a twelve month high of $97.34. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 1.66. The stock has a market cap of $12.23 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 4.16 and a beta of 0.19.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, May 1st. The real estate investment trust reported $0.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.39). Extra Space Storage had a net margin of 44.28% and a return on equity of 18.85%. The firm had revenue of $247.88 million for the quarter, compared to analysts’ expectations of $248.26 million. During the same quarter in the previous year, the business earned $1.03 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. analysts predict that Extra Space Storage will post 4.62 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be given a dividend of $0.86 per share. This is an increase from Extra Space Storage’s previous quarterly dividend of $0.78. The ex-dividend date is Thursday, June 14th. This represents a $3.44 dividend on an annualized basis and a yield of 3.57%. Extra Space Storage’s dividend payout ratio (DPR) is presently 71.23%.

In other Extra Space Storage news, COO Samrat Sondhi sold 5,531 shares of the firm’s stock in a transaction dated Thursday, May 3rd. The stock was sold at an average price of $91.30, for a total transaction of $504,980.30. Following the sale, the chief operating officer now owns 75,138 shares in the company, valued at $6,860,099.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP P Scott Stubbs sold 9,250 shares of the firm’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $85.73, for a total value of $793,002.50. Following the sale, the vice president now owns 144,973 shares in the company, valued at approximately $12,428,535.29. The disclosure for this sale can be found here. Insiders have sold 39,211 shares of company stock worth $3,557,167 in the last 90 days. Company insiders own 3.52% of the company’s stock.

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, 2017, the Company owned and/or operated 1,483 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1,020,000 units and approximately 112 million square feet of rentable space.

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