Presima Exits Position in Extra Space Storage (EXR)

Extra Space Storage (EXR) : Presima has sold out all of its stake in Extra Space Storage during the most recent quarter, according to the disclosure filed by the company on Aug 3, 2016 with the SEC. The investment management company has sold out 476,499 shares of Extra Space Storage which is valued at $39,573,242.

Other Hedge Funds, Including , Forward Management reduced its stake in EXR by selling 272 shares or 1.57% in the most recent quarter. The Hedge Fund company now holds 17,000 shares of EXR which is valued at $1,411,850. Extra Space Storage makes up approx 0.11% of Forward Management’s portfolio. Herndon Capital Management added EXR to its portfolio by purchasing 12 company shares during the most recent quarter which is valued at $1,032. 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. Fox Run Management L.l.c. added EXR to its portfolio by purchasing 3,500 company shares during the most recent quarter which is valued at $324,940. Extra Space Storage makes up approx 0.15% of Fox Run Management L.l.c.’s portfolio.

Extra Space Storage closed down -0.19 points or -0.23% at $82.29 with 11,21,060 shares getting traded on Monday. Post opening the session at $82.25, the shares hit an intraday low of $82.135 and an intraday high of $83.429 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. 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. DA Davidson Initiated Extra Space Storage on Jun 24, 2016 to “Neutral”, Price Target of the shares are set at $95.

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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