Extra Space Storage Inc $EXR Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its stake in Extra Space Storage Inc (NYSE:EXR) by 69.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 49,863 shares of the real estate investment trust’s stock after purchasing an additional 20,507 shares during the period. CIBC Asset Management Inc’s holdings in Extra Space Storage were worth $6,493,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Avalon Trust Co acquired a new position in Extra Space Storage in the 3rd quarter valued at about $28,000. Caitong International Asset Management Co. Ltd acquired a new position in Extra Space Storage during the 3rd quarter worth approximately $28,000. Rosenberg Matthew Hamilton increased its position in Extra Space Storage by 442.9% during the 4th quarter. Rosenberg Matthew Hamilton now owns 266 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 217 shares during the period. Creative Financial Designs Inc. ADV increased its position in Extra Space Storage by 39.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 325 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 92 shares during the period. Finally, Logan Capital Management Inc. increased its position in Extra Space Storage by 313.7% during the 3rd quarter. Logan Capital Management Inc. now owns 302 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 229 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on EXR. Scotiabank boosted their target price on Extra Space Storage from $145.00 to $156.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. Barclays boosted their target price on Extra Space Storage from $164.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, March 5th. UBS Group boosted their target price on Extra Space Storage from $148.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. BNP Paribas Exane upgraded Extra Space Storage from a “neutral” rating to an “outperform” rating and set a $154.00 target price on the stock in a research report on Wednesday, March 18th. Finally, Royal Bank Of Canada boosted their target price on Extra Space Storage from $142.00 to $153.00 and gave the stock a “sector perform” rating in a research report on Monday, February 23rd. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Extra Space Storage has an average rating of “Hold” and an average price target of $152.29.

Extra Space Storage Stock Performance

EXR opened at $145.34 on Friday. The stock has a market cap of $30.71 billion, a P/E ratio of 32.59, a P/E/G ratio of 4.72 and a beta of 1.20. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37. The stock’s 50 day simple moving average is $140.43 and its 200 day simple moving average is $138.81. Extra Space Storage Inc has a 1-year low of $125.71 and a 1-year high of $155.19.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.87). The firm had revenue of $856.03 million during the quarter, compared to analyst estimates of $851.35 million. Extra Space Storage had a return on equity of 6.65% and a net margin of 27.66%.The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.00 EPS. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. As a group, equities analysts anticipate that Extra Space Storage Inc will post 8.24 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $1.62 dividend. The ex-dividend date is Monday, June 15th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.5%. Extra Space Storage’s dividend payout ratio is currently 145.29%.

Insider Buying and Selling at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $142.08, for a total value of $1,065,600.00. Following the sale, the chief executive officer owned 66,495 shares in the company, valued at $9,447,609.60. This represents a 10.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.96% of the stock is currently owned by corporate insiders.

About Extra Space Storage

Extra Space Storage (NYSE: EXR) is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.