Texas Permanent School Fund Cuts Position in Extra Space Storage Inc (NYSE:EXR)

Texas Permanent School Fund reduced its stake in Extra Space Storage Inc (NYSE:EXR) by 3.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 35,379 shares of the real estate investment trust’s stock after selling 1,410 shares during the period. Texas Permanent School Fund’s holdings in Extra Space Storage were worth $2,760,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Extra Space Storage by 2,356.1% in the first quarter. BlackRock Inc. now owns 11,742,847 shares of the real estate investment trust’s stock valued at $873,550,000 after buying an additional 11,264,744 shares during the period. Daiwa Securities Group Inc. increased its position in Extra Space Storage by 11.2% in the first quarter. Daiwa Securities Group Inc. now owns 5,327,021 shares of the real estate investment trust’s stock valued at $396,278,000 after buying an additional 536,392 shares during the period. Vanguard Group Inc. increased its position in Extra Space Storage by 2.0% in the first quarter. Vanguard Group Inc. now owns 21,494,458 shares of the real estate investment trust’s stock valued at $1,598,973,000 after buying an additional 411,415 shares during the period. American Century Companies Inc. increased its position in Extra Space Storage by 184.5% in the first quarter. American Century Companies Inc. now owns 297,545 shares of the real estate investment trust’s stock valued at $22,134,000 after buying an additional 192,948 shares during the period. Finally, Ranger Global Real Estate Advisors LLC bought a new position in Extra Space Storage during the first quarter valued at approximately $12,023,000.

Extra Space Storage Inc (EXR) traded down 1.90% on Friday, hitting $74.74. 858,825 shares of the stock were exchanged. Extra Space Storage Inc has a 52-week low of $68.09 and a 52-week high of $82.82. The stock’s 50 day moving average price is $77.25 and its 200 day moving average price is $76.51. The firm has a market cap of $9.42 billion, a PE ratio of 25.54 and a beta of 0.34.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.04. The company had revenue of $276 million during the quarter, compared to the consensus estimate of $239.89 million. Extra Space Storage had a return on equity of 15.20% and a net margin of 36.35%. Extra Space Storage’s revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 EPS. Equities research analysts forecast that Extra Space Storage Inc will post $2.82 earnings per share for the current year.

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A number of equities research analysts recently issued reports on EXR shares. Bank of America Corporation downgraded shares of Extra Space Storage from a “buy” rating to a “neutral” rating and decreased their price target for the company from $83.00 to $81.00 in a research note on Thursday, July 20th. Royal Bank Of Canada reissued a “hold” rating and issued a $80.00 target price on shares of Extra Space Storage in a research note on Thursday, April 27th. BidaskClub raised shares of Extra Space Storage from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Citigroup Inc. reissued a “neutral” rating on shares of Extra Space Storage in a research note on Thursday, May 11th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $77.00 target price on shares of Extra Space Storage in a research note on Monday, May 22nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $83.13.

In other news, EVP James Overturf sold 1,300 shares of the business’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $77.27, for a total transaction of $100,451.00. Following the completion of the transaction, the executive vice president now directly owns 87,575 shares of the company’s stock, valued at $6,766,920.25. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Spencer Kirk sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $79.09, for a total value of $1,581,800.00. Following the transaction, the director now directly owns 665,748 shares of the company’s stock, valued at $52,654,009.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,600 shares of company stock valued at $4,860,821. 3.72% of the stock is currently owned by corporate insiders.

Extra Space Storage Company Profile

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

Institutional Ownership by Quarter for Extra Space Storage (NYSE:EXR)

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