KeyBanc Cuts Rating On Extra Space Storage Inc (EXR) To "Market Perform"

Marco Green
September 13, 2017

Extra Space Storage Inc (NYSE:EXR) declared a quarterly dividend on Monday, August 28th, Wall Street Journal reports. The Hm Payson & Company holds 286,714 shares with $24.78 million value, up from 238,201 last quarter.

Extra Space Storage Inc is a self-administered and self-managed real estate investment trust (REIT). The stock declined 2.47% or $1.97 reaching $77.76 on the news. During the same period in the prior year, the company posted $0.94 earnings per share. The Company's interest in its stores is held through its operating partnership, Extra Space Storage LP (the Operating Partnership). Ameriprise Financial, Inc. (NYSE:AMP) has risen 30.25% since September 12, 2016 and is uptrending. It has underperformed by 31.47% the S&P500.

Haverford Trust Company increased Nike Inc Cl B (NKE) stake by 6706.37% reported in 2016Q4 SEC filing. Legal & General Group Plc raised its holdings in Extra Space Storage by 5.8% in the first quarter. State of Wisconsin Investment Board now owns 122,734 shares of the real estate investment trust's stock worth $9,130,000 after purchasing an additional 15,867 shares in the last quarter. The stock increased 1.24% or $1.01 on September 8, reaching $82.25. Morgan Stanley now owns 265,835 shares of the real estate investment trust's stock worth $19,777,000 after purchasing an additional 138,084 shares in the last quarter. Nike Inc (NYSE:NKE) has declined 9.24% since September 12, 2016 and is downtrending. (NYSE:EXR) for 1.63M shares. Following the transaction, the director now directly owns 665,748 shares of the company's stock, valued at approximately $52,654,009.32. Tesoro Logistics Lp (NYSE:TLLP) was reduced too.

Since March 16, 2017, it had 0 buys, and 4 insider sales for $3.21 million activity. The Maryland-based Brown Advisory Inc has invested 0% in Extra Space Storage, Inc. (NYSE:EXR) on Monday, April 3.

In related news, Director Spencer Kirk sold 20,000 shares of the stock in a transaction on Tuesday, August 1st.

In addition to KeyBanc reporting its stock price target, a total of 15 analysts have released a report on Extra Space Storage. (NYSE:EXR) for 4,813 shares. Therefore 27% are positive. Extra Space Storage Inc. had 38 analyst reports since July 23, 2015 according to SRatingsIntel. The rating was maintained by Jefferies on Tuesday, May 31 with "Buy".

First Western Capital Management Company decreased Extra Space Storage Inc (EXR) stake by 37.65% reported in 2016Q4 SEC filing. The rating was downgraded by Citigroup to "Hold" on Wednesday, April 20. $80.88's average target is 3.03% above currents $78.5 stock price. The stock has "Hold" rating by RBC Capital Markets on Tuesday, August 1. (NYSE:EXR) for 415,505 shares. Fortaleza Asset Management stated it has 0% of its portfolio in Extra Space Storage, Inc. Extra Space Storage's dividend payout ratio (DPR) is 107.22%. Zacks upgraded it to "Buy" rating and $80 target in Friday, September 4 report. The stock spiked 1.52% last month and is up 0.3 this year. They expect this year's earnings to fall -10.58% year-over-year to $0.93, followed by 9.68% growth in the next year to $1.02. Weaver C Barksdale & Assoc owns 0.01% invested in Phillips 66 (NYSE:PSX) for 94 shares. 41 funds opened positions while 124 raised stakes.

The counter witnessed a trading volume of 2.17 million shares versus an average volume of 0.85 million shares during last trading session. Cibc Mkts holds 8,643 shares. Santa Barbara Asset Management Ltd reported 984,041 shares stake. Municipal Employees Retirement System of MI now owns 3,960 shares of the real estate investment trust's stock valued at $314,000 after buying an additional 10 shares in the last quarter. Robeco Institutional Asset Mngmt Bv holds 1.84M shares or 0.89% of its portfolio. Oakworth Capital has 734 shares. Wealthtrust Fairport Limited Liability Company holds 0.97% or 131,173 shares. Hm Payson & Company acquired 48,513 shares as Phillips 66 (PSX)'s stock declined 0.52%. Cleararc Capital invested in 3,073 shares. California State Teachers Retirement owns 250,509 shares. Tarbox Incorporated holds 109 shares. (NYSE:EXR). Moreover, Apg Asset Management Nv has 0% invested in Extra Space Storage, Inc.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, August 1st. Geode Mgmt Ltd Com holds 1.27 million shares or 0.05% of its portfolio.

Among 42 analysts covering Nike Inc. The stock of Phillips 66 (NYSE:PSX) earned "Equal-Weight" rating by Barclays Capital on Wednesday, August 2. As per Friday, January 27, the company rating was maintained by Canaccord Genuity. Bank of America maintained the shares of MSFT in report on Monday, July 17 with "Buy" rating. As per Thursday, June 15, the company rating was maintained by Susquehanna. The stock of Microsoft Corporation (NASDAQ:MSFT) has "Buy" rating given on Friday, October 21 by Wunderlich. The rating was maintained by Canaccord Genuity with "Hold" on Wednesday, June 29. Goldman Sachs downgraded the stock to "Neutral" rating in Friday, November 13 report. On Monday, July 10 the stock rating was maintained by Jefferies with "Hold".

Investors sentiment decreased to 0.88 in 2016 Q4. Its up 0.07, from 1.14 in 2016Q3. It is positive, as 46 investors sold AMP shares while 229 reduced holdings. 353.99 million shares or 0.70% more from 351.52 million shares in 2016Q3 were reported. Saturna Capital Corporation has invested 1.44% in Nike Inc (NYSE:NKE). Manitoba - Canada-based Great West Life Assurance Can has invested 0.03% in Extra Space Storage, Inc. Boston Private Wealth Lc reported 140,396 shares or 0.3% of all its holdings. (NYSE:EXR). Forward Mgmt stated it has 17,000 shares or 0.09% of all its holdings. Highlander Cap Mngmt Limited Liability accumulated 2,000 shares. Putnam Limited Liability accumulated 36,362 shares. Engineers Gate Manager Lp accumulated 8,800 shares. Sii Wi reported 20,318 shares stake.

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