Today, Arizona State Retirement System invests in 300 by buying Extra Space Storage Inc. (EXR) shares

Today, Arizona State Retirement System invests in 300 by buying Extra Space Storage Inc. (EXR) shares
Arizona State Retirement System increased its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 0.8% during the third quarter, Holdings Channel reports. The firm owned 36,200 shares of the real estate investment trust’s stock after buying an additional 300 shares during the period. Arizona State Retirement System’s holdings in Extra Space Storage were worth $2,875,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Fox Run Management L.L.C. bought a new stake in Extra Space Storage during the second quarter worth about $324,000. Nisa Investment Advisors LLC raised its stake in Extra Space Storage by 20.6% in the second quarter. Nisa Investment Advisors LLC now owns 15,915 shares of the real estate investment trust’s stock worth $1,473,000 after buying an additional 2,715 shares during the period. Johanson Financial Advisors Inc. bought a new stake in Extra Space Storage during the second quarter worth about $208,000. Capstone Asset Management Co. raised its stake in Extra Space Storage by 14.2% in the second quarter. Capstone Asset Management Co. now owns 20,312 shares of the real estate investment trust’s stock worth $1,880,000 after buying an additional 2,520 shares during the period. Finally, Creative Planning raised its stake in Extra Space Storage by 4.8% in the second quarter. Creative Planning now owns 13,182 shares of the real estate investment trust’s stock worth $1,220,000 after buying an additional 599 shares during the period. Institutional investors and hedge funds own 95.60% of the company’s stock.

Extra Space Storage Inc. (NYSE:EXR) traded up 0.63% on Friday, reaching $70.08. The company’s stock had a trading volume of 359,845 shares. The firm has a market capitalization of $8.82 billion, a PE ratio of 30.26 and a beta of 0.46. The stock’s 50 day moving average is $73.52 and its 200-day moving average is $83.09. Extra Space Storage Inc. has a 52 week low of $68.09 and a 52 week high of $94.81.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Wednesday, October 26th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.03. The firm earned $257.20 million during the quarter, compared to analysts’ expectations of $218.17 million. Extra Space Storage had a return on equity of 14.98% and a net margin of 30.57%. The business’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.81 earnings per share. Analysts predict that Extra Space Storage Inc. will post $3.80 EPS for the current year.

EXR has been the subject of a number of recent analyst reports. DA Davidson raised their price objective on Extra Space Storage from $90.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, July 29th. Zacks Investment Research upgraded Extra Space Storage from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research note on Tuesday, August 2nd. Raymond James Financial Inc. lowered Extra Space Storage from a “strong-buy” rating to an “outperform” rating and raised their price objective for the company from $95.00 to $106.00 in a research note on Friday, August 12th. Jefferies Group lowered their price objective on Extra Space Storage from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, August 10th. Finally, Cantor Fitzgerald restated a “hold” rating on shares of Extra Space Storage in a research note on Friday, August 26th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $91.73.

In related news, Director Dennis J. Letham purchased 2,000 shares of Extra Space Storage stock in a transaction on Friday, October 28th. The stock was bought at an average price of $71.76 per share, with a total value of $143,520.00. Following the completion of the transaction, the director now directly owns 3,088 shares of the company’s stock, valued at $221,594.88. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Spencer Kirk sold 20,000 shares of the business’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $78.26, for a total value of $1,565,200.00. Following the completion of the sale, the chief executive officer now directly owns 734,430 shares of the company’s stock, valued at approximately $57,476,491.80. The disclosure for this sale can be found here. Corporate insiders own 4.13% of the company’s stock.

Extra Space Storage Company Profile

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

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