Canada Pension Plan Investment Board Invests $53.44 Million in Extra Space Storage Inc $EXR

Canada Pension Plan Investment Board acquired a new stake in shares of Extra Space Storage Inc (NYSE:EXR) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 367,813 shares of the real estate investment trust’s stock, valued at approximately $53,443,000.

Several other institutional investors and hedge funds have also modified their holdings of EXR. NewEdge Advisors LLC raised its holdings in Extra Space Storage by 9.3% during the 1st quarter. NewEdge Advisors LLC now owns 3,409 shares of the real estate investment trust’s stock worth $506,000 after buying an additional 291 shares during the period. Empowered Funds LLC lifted its stake in Extra Space Storage by 15.5% in the first quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust’s stock valued at $729,000 after buying an additional 661 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Extra Space Storage in the second quarter valued at approximately $457,000. First Trust Advisors LP boosted its holdings in shares of Extra Space Storage by 184.1% in the second quarter. First Trust Advisors LP now owns 108,205 shares of the real estate investment trust’s stock valued at $15,954,000 after buying an additional 70,115 shares during the period. Finally, Brown Advisory Inc. boosted its holdings in shares of Extra Space Storage by 1.8% in the second quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock valued at $653,000 after buying an additional 80 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EXR. UBS Group raised their price objective on shares of Extra Space Storage from $158.00 to $163.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Bank of America raised shares of Extra Space Storage from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $147.00 to $156.00 in a research report on Tuesday, June 16th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $160.00 target price on shares of Extra Space Storage in a research note on Thursday, July 30th. Wells Fargo & Company increased their target price on Extra Space Storage from $154.00 to $158.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Finally, Royal Bank Of Canada lifted their price target on Extra Space Storage from $153.00 to $157.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $149.20.

Extra Space Storage Trading Down 0.9%

NYSE:EXR opened at $142.86 on Friday. Extra Space Storage Inc has a twelve month low of $125.71 and a twelve month high of $158.88. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.96. The business has a 50 day moving average price of $147.23 and a two-hundred day moving average price of $143.96. The company has a market cap of $30.18 billion, a P/E ratio of 31.54, a price-to-earnings-growth ratio of 4.14 and a beta of 1.18.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.09. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. The company had revenue of $874.15 million during the quarter, compared to analysts’ expectations of $874.99 million. During the same period last year, the business earned $2.05 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. As a group, analysts expect that Extra Space Storage Inc will post 8.33 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.5%. The ex-dividend date is Tuesday, September 15th. Extra Space Storage’s payout ratio is presently 143.05%.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $150.00, for a total transaction of $495,000.00. Following the sale, the executive vice president directly owned 37,374 shares of the company’s stock, valued at $5,606,100. The trade was a 8.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.96% of the company’s stock.

Extra Space Storage Company Profile

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.