The stock of Extra Space Storage, Inc. (NYSE:EXR) is a huge mover today! About 489,987 shares traded hands. Extra Space Storage, Inc. (NYSE:EXR) has declined 22.64% since April 5, 2016 and is downtrending. It has underperformed by 24.59% the S&P500.
The move comes after 5 months positive chart setup for the $9.77B company. It was reported on Nov, 8 by Barchart.com. We have $96.93 PT which if reached, will make NYSE:EXR worth $2.83 billion more.
Extra Space Storage, Inc. (NYSE:EXR) Ratings Coverage
Out of 12 analysts covering Extra Space Storage Inc. (NYSE:EXR), 7 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 58% are positive. Extra Space Storage Inc. has been the topic of 22 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The company was initiated on Thursday, July 23 by Robert W. Baird. The company was upgraded on Monday, December 7 by KeyBanc Capital Markets. Zacks downgraded the shares of EXR in a report on Wednesday, August 26 to “Buy” rating. As per Wednesday, November 11, the company rating was initiated by BB&T Capital. The stock of Extra Space Storage, Inc. (NYSE:EXR) has “Hold” rating given on Tuesday, September 8 by Evercore. Citigroup maintained it with “Neutral” rating and $80 target price in Friday, October 2 report. Jefferies maintained it with “Buy” rating and $105 target price in Wednesday, August 10 report. BMO Capital Markets upgraded Extra Space Storage, Inc. (NYSE:EXR) rating on Thursday, August 13. BMO Capital Markets has “Outperform” rating and $85 price target. Zacks downgraded Extra Space Storage, Inc. (NYSE:EXR) on Friday, August 28 to “Buy” rating. On Friday, August 12 the stock rating was downgraded by Raymond James to “Outperform”.
According to Zacks Investment Research, “Extra Space Storage Inc. is a fully integrated, self-administered and self-managed real estate investment trust that acquires, develops and operates self-storage facilities.”
Insitutional Activity: The institutional sentiment decreased to 1.11 in 2016 Q2. Its down 0.06, from 1.17 in 2016Q1. The ratio dived, as 36 funds sold all Extra Space Storage, Inc. shares owned while 132 reduced positions. 45 funds bought stakes while 141 increased positions. They now own 119.25 million shares or 2.90% less from 122.82 million shares in 2016Q1.
The Japan-based Mizuho Tru & Banking Limited has invested 0.06% in Extra Space Storage, Inc. (NYSE:EXR). Dorsey Wright & Assoc has 0.79% invested in the company for 16,139 shares. Globeflex Capital Limited Partnership last reported 2,719 shares in the company. Navellier & Associates Incorporated owns 24,189 shares or 0.33% of their US portfolio. Tiaa Cref Investment Management Ltd Limited Liability Company holds 804,220 shares or 0.06% of its portfolio. Moreover, Oakbrook has 0.04% invested in Extra Space Storage, Inc. (NYSE:EXR) for 6,994 shares. Hbk Ltd Partnership accumulated 0% or 5,319 shares. Teacher Retirement Of Texas has invested 0.04% of its portfolio in Extra Space Storage, Inc. (NYSE:EXR). Boston Advisors Ltd Liability reported 55,237 shares or 0.13% of all its holdings. Forward Management Lc accumulated 0.13% or 17,000 shares. Cohen Steers Incorporated reported 7.96 million shares or 1.92% of all its holdings. Moreover, Bnp Paribas Arbitrage Sa has 0.01% invested in Extra Space Storage, Inc. (NYSE:EXR) for 25,487 shares. Connor Clark And Lunn Investment Management Ltd last reported 0% of its portfolio in the stock. Sector Pension Board last reported 0.02% of its portfolio in the stock. Franklin Resource accumulated 0.02% or 308,975 shares.
Insider Transactions: Since May 10, 2016, the stock had 0 buys, and 5 insider sales for $8.60 million net activity. Shares for $1.86M were sold by Kirk Spencer. Stubbs P Scott also sold $583,196 worth of Extra Space Storage, Inc. (NYSE:EXR) shares. 500 shares with value of $46,750 were sold by McNeal Gwyn Goodson on Tuesday, May 10. On Tuesday, May 10 Sondhi Samrat sold $623,217 worth of the stock or 6,673 shares.
More notable recent Extra Space Storage, Inc. (NYSE:EXR) news were published by: Prnewswire.com which released: “Extra Space Storage Inc. Reports 2016 Third Quarter Results” on October 26, 2016, also Prnewswire.com with their article: “Extra Space Storage Inc. Completes $1.15 Billion Senior Unsecured Credit Facility” published on October 17, 2016, Forbes.com published: “Extra Space Storage Enters Oversold Territory” on August 03, 2016. More interesting news about Extra Space Storage, Inc. (NYSE:EXR) were released by: Prnewswire.com and their article: “Extra Space Storage Inc. Announces Date of Earnings Release and Conference …” published on September 30, 2016 as well as Prnewswire.com‘s news article titled: “Extra Space Storage Inc. Announces Third Quarter 2016 Dividend” with publication date: August 29, 2016.
EXR Company Profile
Extra Space Storage Inc., incorporated on April 30, 2004, is a self-administered and self-managed real estate investment trust (REIT). The Firm operates through three divisions: rental operations; tenant reinsurance, and property management, acquisition and development. The Firm owns, operates, manages, acquires, develops and redevelops self-storage properties (stores). The Firm has interests in approximately 1000 operating stores. Of these stores, the Company owns approximately 270 stores in joint venture partnerships. An additional approximately 350 operating stores are owned by third parties and operated by the Company. The Company’s operating stores are located in over 30 states of the United States, Washington D.C. and Puerto Rico, and contains approximately 100 million square feet of net rentable space in approximately 896,000 units.
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