Everest Capital adds Extra Space Storage (EXR) to its portfolio

Extra Space Storage (EXR) : Everest Capital added new position in Extra Space Storage during the most recent quarter end. The investment management firm now holds 11,400 shares of Extra Space Storage which is valued at $951,216 , the company said in a statement filed on Aug 15, 2016 with the SEC.Extra Space Storage makes up approximately 24.69% of Everest Capital’s portfolio.

Other Hedge Funds, Including , Laffer Investments added EXR to its portfolio by purchasing 6,323 company shares during the most recent quarter which is valued at $527,591. Extra Space Storage makes up approx 0.17% of Laffer Investments’s portfolio.Hutchens Investment Management Inc boosted its stake in EXR in the latest quarter, The investment management firm added 4,326 additional shares and now holds a total of 19,426 shares of Extra Space Storage which is valued at $1,620,905. Extra Space Storage makes up approx 1.49% of Hutchens Investment Management Inc’s portfolio.Rafferty Asset Management reduced its stake in EXR by selling 3,203 shares or 19.76% in the most recent quarter. The Hedge Fund company now holds 13,004 shares of EXR which is valued at $1,086,484. Extra Space Storage makes up approx 0.07% of Rafferty Asset Management’s portfolio. Proficio Capital Partners sold out all of its stake in EXR during the most recent quarter. The investment firm sold 15 shares of EXR which is valued $1,290. Green Street Investors sold out all of its stake in EXR during the most recent quarter. The investment firm sold 21,400 shares of EXR which is valued $1,840,828.

Extra Space Storage opened for trading at $80.55 and hit $81.84 on the upside on Thursday, eventually ending the session at $81.01, with a gain of 0.57% or 0.46 points. The heightened volatility saw the trading volume jump to 9,16,840 shares. Company has a market cap of $10,190 M.

On the company’s financial health, Extra Space Storage reported $0.94 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.93. The company had revenue of $244.30 million for the quarter, compared to analysts expectations of $210.69 million. The company’s revenue was up 31.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS.

Investors should note that on Aug 29, 2016, Extra Space Storage announced a cash dividend of $0.7800. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Sep 30, 2016.

Many Wall Street Analysts have commented on Extra Space Storage. Extra Space Storage was Downgraded by Raymond James to ” Outperform” on Aug 12, 2016. Company shares were Reiterated by DA Davidson on Jul 29, 2016 to “Neutral”, Firm has raised the Price Target to $ 95 from a previous price target of $90 .Extra Space Storage was Downgraded by SunTrust to ” Neutral” on Jul 25, 2016.

Extra Space Storage Inc. is a fully integrated self-administered and self-managed real estate investment trust (REIT). The Company owns operates manages acquires develops and redevelops professionally managed self-storage properties (stores). The Company operates through three segments: rental operations; tenant reinsurance and property management acquisition and development. The Company’s rental operations activities include rental operations of self-storage stores. Tenant reinsurance activities include the reinsurance of risks relating to the loss of goods stored by tenants in the Company’s self-storage facilities. The Company’s property management acquisition and development activities include managing acquiring developing and selling self-storage stores. As of December 31 2014 it held ownership interests in 828 operating stores. Of these operating stores 557 are wholly owned and 271 are owned in joint venture partnerships.

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