Cibc World Market Inc. Has $18.08 Million Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Cibc World Market Inc. lifted its holdings in Extra Space Storage Inc. (NYSE:EXR) by 6.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 120,834 shares of the real estate investment trust’s stock after acquiring an additional 6,899 shares during the period. Cibc World Market Inc. owned approximately 0.06% of Extra Space Storage worth $18,077,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in shares of Extra Space Storage during the 3rd quarter worth approximately $33,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Extra Space Storage in the third quarter valued at approximately $42,000. Continuum Advisory LLC grew its position in Extra Space Storage by 68.1% during the third quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 126 shares in the last quarter. Sunbelt Securities Inc. increased its stake in Extra Space Storage by 441.2% during the 2nd quarter. Sunbelt Securities Inc. now owns 617 shares of the real estate investment trust’s stock worth $96,000 after acquiring an additional 503 shares during the period. Finally, DiNuzzo Private Wealth Inc. acquired a new position in Extra Space Storage in the 3rd quarter valued at $129,000. 99.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

EXR has been the topic of several analyst reports. Truist Financial increased their target price on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Evercore ISI reduced their price objective on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. Scotiabank upgraded shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 target price for the company in a research report on Friday, January 10th. StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Barclays lowered their price objective on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $174.00.

Extra Space Storage Price Performance

EXR stock opened at $153.98 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The firm has a market cap of $32.64 billion, a price-to-earnings ratio of 40.31, a PEG ratio of 7.62 and a beta of 0.91. The company’s fifty day simple moving average is $155.09 and its 200 day simple moving average is $164.66. Extra Space Storage Inc. has a 12-month low of $131.02 and a 12-month high of $184.87.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $824.80 million during the quarter, compared to analyst estimates of $826.93 million. During the same period in the prior year, the firm earned $2.02 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend was Monday, December 16th. Extra Space Storage’s payout ratio is 169.63%.

Insiders Place Their Bets

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the transaction, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at $2,470,286.90. This represents a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Diane Olmstead sold 3,081 shares of Extra Space Storage stock in a transaction on Friday, November 15th. The shares were sold at an average price of $164.56, for a total transaction of $507,009.36. Following the completion of the sale, the director now directly owns 5,877 shares of the company’s stock, valued at approximately $967,119.12. This trade represents a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.36% of the company’s stock.

About Extra Space Storage

Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2023, the Company owned and/or operated 3,714 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.6 million units and approximately 283.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.