Cornerstone Real Estate Advisers Lowers stake in Extra Space Storage (EXR)

Extra Space Storage (EXR) : Cornerstone Real Estate Advisers reduced its stake in Extra Space Storage by 7.37% during the most recent quarter end. The investment management company now holds a total of 113,956 shares of Extra Space Storage which is valued at $9,508,489 after selling 9,061 shares in Extra Space Storage , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Extra Space Storage makes up approximately 3.12% of Cornerstone Real Estate Advisers’s portfolio.

Other Hedge Funds, Including , Fort Washington Investment Advisors Inc Oh added EXR to its portfolio by purchasing 4,800 company shares during the most recent quarter which is valued at $400,512. Extra Space Storage makes up approx 0.01% of Fort Washington Investment Advisors Inc Oh’s portfolio.Td Asset Management Inc boosted its stake in EXR in the latest quarter, The investment management firm added 2,170 additional shares and now holds a total of 54,837 shares of Extra Space Storage which is valued at $4,522,956. Extra Space Storage makes up approx 0.01% of Td Asset Management Inc’s portfolio.Diam Ltd. reduced its stake in EXR by selling 18,638 shares or 5.01% in the most recent quarter. The Hedge Fund company now holds 353,712 shares of EXR which is valued at $29,375,782. Extra Space Storage makes up approx 0.42% of Diam Ltd.’s portfolio.Mizuho Trust Banking Ltd. boosted its stake in EXR in the latest quarter, The investment management firm added 14,375 additional shares and now holds a total of 223,099 shares of Extra Space Storage which is valued at $18,528,372. Extra Space Storage makes up approx 0.06% of Mizuho Trust Banking Ltd.’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.

Extra Space Storage closed down -0.17 points or -0.21% at $81.18 with 8,00,590 shares getting traded on Tuesday. Post opening the session at $81.5, the shares hit an intraday low of $81 and an intraday high of $81.62 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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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