BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 5,255 Shares of Extra Space Storage Inc. (NYSE:EXR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Extra Space Storage Inc. (NYSE:EXR) by 2.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 242,586 shares of the real estate investment trust’s stock after purchasing an additional 5,255 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.11% of Extra Space Storage worth $36,291,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Extra Space Storage by 8.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,143,047 shares of the real estate investment trust’s stock valued at $320,600,000 after acquiring an additional 161,248 shares in the last quarter. Worldquant Millennium Advisors LLC boosted its stake in shares of Extra Space Storage by 125.5% in the fourth quarter. Worldquant Millennium Advisors LLC now owns 230,307 shares of the real estate investment trust’s stock worth $34,454,000 after buying an additional 128,167 shares during the last quarter. Woodline Partners LP acquired a new stake in shares of Extra Space Storage during the 4th quarter worth approximately $22,651,000. Vident Advisory LLC grew its position in Extra Space Storage by 56.7% during the fourth quarter. Vident Advisory LLC now owns 14,254 shares of the real estate investment trust’s stock valued at $2,133,000 after buying an additional 5,155 shares during the period. Finally, Sophron Capital Management L.P. purchased a new position in shares of Extra Space Storage in the 4th quarter valued at about $1,155,000. Institutional investors own 99.11% of the company’s stock.

Insiders Place Their Bets

In other Extra Space Storage news, EVP William N. Springer sold 1,220 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the completion of the sale, the executive vice president now directly owns 20,158 shares of the company’s stock, valued at $3,077,320.28. The trade was a 5.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the transaction, the chief executive officer now directly owns 9,190 shares in the company, valued at approximately $1,355,065.50. The trade was a 44.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,392 shares of company stock worth $1,392,315. 0.96% of the stock is currently owned by insiders.

Extra Space Storage Trading Down 0.3%

EXR stock opened at $152.11 on Wednesday. The business’s 50 day moving average is $143.32 and its 200-day moving average is $151.86. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 1-year low of $121.03 and a 1-year high of $184.87. The firm has a market cap of $32.28 billion, a P/E ratio of 39.82, a P/E/G ratio of 7.76 and a beta of 1.14.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.04. The business had revenue of $820.00 million for the quarter, compared to analyst estimates of $705.12 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the business posted $1.96 earnings per share. Equities analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date was Friday, March 14th. Extra Space Storage’s payout ratio is 150.35%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EXR. Royal Bank of Canada lowered their price target on Extra Space Storage from $163.00 to $160.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 1st. The Goldman Sachs Group restated a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Bank of America boosted their target price on Extra Space Storage from $155.00 to $161.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Benchmark lowered their price objective on shares of Extra Space Storage from $61.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Finally, Scotiabank upped their price target on Extra Space Storage from $149.00 to $166.00 and gave the stock a “sector outperform” rating in a report on Monday, May 12th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Extra Space Storage presently has a consensus rating of “Moderate Buy” and an average price target of $158.46.

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.