Canada Pension Plan Investment Board Has $200.61 Million Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Canada Pension Plan Investment Board cut its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 4.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,340,999 shares of the real estate investment trust’s stock after selling 65,870 shares during the quarter. Canada Pension Plan Investment Board owned 0.63% of Extra Space Storage worth $200,613,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Extra Space Storage during the fourth quarter worth approximately $938,647,000. Manning & Napier Advisors LLC lifted its position in Extra Space Storage by 1,127.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust’s stock worth $116,985,000 after buying an additional 718,266 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its stake in shares of Extra Space Storage by 91.2% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,089,753 shares of the real estate investment trust’s stock valued at $163,027,000 after buying an additional 519,934 shares during the period. Cohen & Steers Inc. grew its holdings in shares of Extra Space Storage by 5.9% during the 4th quarter. Cohen & Steers Inc. now owns 9,246,133 shares of the real estate investment trust’s stock valued at $1,383,094,000 after acquiring an additional 516,941 shares in the last quarter. Finally, Amundi increased its stake in shares of Extra Space Storage by 82.0% in the fourth quarter. Amundi now owns 828,644 shares of the real estate investment trust’s stock worth $122,649,000 after acquiring an additional 373,274 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Mizuho started coverage on Extra Space Storage in a research report on Wednesday, April 9th. They set an “outperform” rating and a $141.00 price objective for the company. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday, March 7th. The Goldman Sachs Group restated a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. Wells Fargo & Company cut their price objective on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. Finally, Scotiabank upgraded shares of Extra Space Storage from a “sector perform” rating to a “sector outperform” rating and cut their price target for the company from $165.00 to $149.00 in a report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $167.25.

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $138.21 on Thursday. The company has a market cap of $29.33 billion, a price-to-earnings ratio of 36.18, a PEG ratio of 7.76 and a beta of 0.96. The business has a 50 day moving average price of $147.56 and a 200 day moving average price of $155.95. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a twelve month low of $121.03 and a twelve month high of $184.87.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.93. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company had revenue of $821.90 million during the quarter, compared to analysts’ expectations of $707.34 million. Research analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $1.62 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.69%. Extra Space Storage’s dividend payout ratio is currently 160.40%.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total value of $1,105,875.00. Following the sale, the chief executive officer now directly owns 9,190 shares in the company, valued at $1,355,065.50. This represents a 44.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP William N. Springer sold 1,220 shares of Extra Space Storage 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 transaction, the executive vice president now directly owns 20,158 shares of the company’s stock, valued at approximately $3,077,320.28. The trade was a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,392 shares of company stock valued at $1,392,315. Corporate 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.