Alps Advisors Inc. cut its stake in shares of Extra Space Storage, Inc. (NYSE:EXR) by 27.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,496 shares of the real estate investment trust’s stock after selling 2,844 shares during the quarter. Alps Advisors Inc.’s holdings in Extra Space Storage were worth $678,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. First Hawaiian Bank purchased a new position in Extra Space Storage in the third quarter worth $120,000. Atlas Capital Advisors LLC purchased a new position in Extra Space Storage in the third quarter worth $125,000. Meeder Asset Management Inc. purchased a new position in Extra Space Storage in the third quarter worth $137,000. ING Groep NV purchased a new position in Extra Space Storage in the third quarter worth $208,000. Finally, Exane Asset Management purchased a new position in Extra Space Storage in the third quarter worth $258,000.
In other news, EVP James Overturf sold 880 shares of the firm’s stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $92.77, for a total value of $81,637.60. Following the completion of the transaction, the executive vice president now owns 71,217 shares in the company, valued at $6,606,801.09. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last 90 days, insiders sold 2,200 shares of company stock valued at $207,860. Company insiders own 3.52% of the company’s stock.
Several research analysts have issued reports on the company. ValuEngine upgraded Extra Space Storage from a “hold” rating to a “buy” rating in a research report on Tuesday, November 20th. Zacks Investment Research upgraded Extra Space Storage from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a research report on Wednesday, January 16th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $96.50.
Shares of EXR stock opened at $99.32 on Thursday. Extra Space Storage, Inc. has a fifty-two week low of $80.18 and a fifty-two week high of $101.96. The firm has a market capitalization of $12.50 billion, a PE ratio of 22.68, a PEG ratio of 4.29 and a beta of 0.34. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.53 and a quick ratio of 0.53.
Extra Space Storage Company 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 September 30, 2018, the Company owned and/or operated 1,606 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.1 million units and approximately 122 million square feet of rentable space.
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