Canada Pension Plan Investment Board purchased a new stake in shares of Extra Space Storage Inc (NYSE:EXR – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 367,813 shares of the real estate investment trust’s stock, valued at approximately $53,443,000. Canada Pension Plan Investment Board owned 0.17% of Extra Space Storage as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in EXR. BlackRock Inc. acquired a new position in Extra Space Storage in the second quarter worth about $3,334,263,000. Cohen & Steers Inc. grew its stake in shares of Extra Space Storage by 13.4% in the 4th quarter. Cohen & Steers Inc. now owns 15,979,424 shares of the real estate investment trust’s stock valued at $2,080,971,000 after purchasing an additional 1,888,763 shares during the period. State Street Corp grew its stake in shares of Extra Space Storage by 1.7% in the 3rd quarter. State Street Corp now owns 13,910,878 shares of the real estate investment trust’s stock valued at $1,960,599,000 after purchasing an additional 230,697 shares during the period. Norges Bank bought a new stake in shares of Extra Space Storage in the 4th quarter valued at approximately $1,219,606,000. Finally, Capital International Investors raised its holdings in shares of Extra Space Storage by 73.9% in the 4th quarter. Capital International Investors now owns 6,256,687 shares of the real estate investment trust’s stock worth $814,746,000 after buying an additional 2,658,947 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on EXR shares. Royal Bank Of Canada raised their target price on Extra Space Storage from $153.00 to $157.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Scotiabank raised their price target on shares of Extra Space Storage from $157.00 to $158.00 and gave the company a “sector perform” rating in a report on Tuesday, August 18th. Raymond James Financial initiated coverage on shares of Extra Space Storage in a research note on Thursday, July 16th. They issued an “outperform” rating and a $44.00 target price on the stock. Wells Fargo & Company upped their target price on shares of Extra Space Storage from $154.00 to $158.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $160.00 price target on shares of Extra Space Storage in a research note on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $149.20.
Insider Buying and Selling at Extra Space Storage
In other news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $150.00, for a total value of $495,000.00. Following the completion of the transaction, the executive vice president 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 Securities & Exchange Commission, which is available at this hyperlink. 0.96% of the stock is currently owned by corporate insiders.
Extra Space Storage Stock Performance
Shares of EXR stock opened at $142.86 on Friday. The stock has a market cap of $30.18 billion, a PE ratio of 31.54, a price-to-earnings-growth ratio of 4.14 and a beta of 1.18. The stock has a 50-day moving average of $147.23 and a 200-day moving average of $143.96. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.56 and a quick ratio of 1.56. Extra Space Storage Inc has a one year low of $125.71 and a one year high of $158.88.
Extra Space Storage (NYSE:EXR – Get Free Report) last released its quarterly earnings data 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. The business had revenue of $874.15 million for the quarter, compared to analyst estimates of $874.99 million. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. Extra Space Storage’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.05 EPS. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. As a group, sell-side analysts expect that Extra Space Storage Inc will post 8.33 earnings per share for the current year.
Extra Space Storage Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, September 15th. Extra Space Storage’s dividend payout ratio (DPR) is currently 143.05%.
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.
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