Assetmark Inc Lowers stake in Extra Space Storage (EXR)

Extra Space Storage (EXR) : Assetmark Inc reduced its stake in Extra Space Storage by 1.32% during the most recent quarter end. The investment management company now holds a total of 108,377 shares of Extra Space Storage which is valued at $9,054,898 after selling 1,451 shares in Extra Space Storage , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Extra Space Storage makes up approximately 0.15% of Assetmark Inc’s portfolio.

Other Hedge Funds, Including , Advisors Asset Management boosted its stake in EXR in the latest quarter, The investment management firm added 208 additional shares and now holds a total of 11,180 shares of Extra Space Storage which is valued at $934,089. Extra Space Storage makes up approx 0.01% of Advisors Asset Management’s portfolio.Parkwood reduced its stake in EXR by selling 1,009 shares or 14.76% in the most recent quarter. The Hedge Fund company now holds 5,827 shares of EXR which is valued at $545,524. Extra Space Storage makes up approx 0.09% of Parkwood’s portfolio.Quadrant Capital Management reduced its stake in EXR by selling 460 shares or 3.39% in the most recent quarter. The Hedge Fund company now holds 13,118 shares of EXR which is valued at $1,228,107. Extra Space Storage makes up approx 1.01% of Quadrant Capital Management’s portfolio.

Extra Space Storage closed down -0.33 points or -0.40% at $83.11 with 14,07,254 shares getting traded on Monday. Post opening the session at $83.81, the shares hit an intraday low of $83.03 and an intraday high of $83.88 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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.

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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