Cibc World Market Inc. Raises Stake in Extra Space Storage Inc $EXR

Cibc World Market Inc. increased its stake in Extra Space Storage Inc (NYSE:EXR) by 19.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 190,863 shares of the real estate investment trust’s stock after purchasing an additional 30,983 shares during the quarter. Cibc World Market Inc.’s holdings in Extra Space Storage were worth $26,900,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. raised its position in shares of Extra Space Storage by 6.4% in the third quarter. Principal Financial Group Inc. now owns 6,715,901 shares of the real estate investment trust’s stock valued at $946,540,000 after buying an additional 406,146 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in Extra Space Storage by 38.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 589,271 shares of the real estate investment trust’s stock worth $83,052,000 after acquiring an additional 162,773 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of Extra Space Storage by 32.0% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 24,240 shares of the real estate investment trust’s stock worth $3,416,000 after purchasing an additional 5,870 shares during the period. Resona Asset Management Co. Ltd. lifted its stake in shares of Extra Space Storage by 6.6% during the 3rd quarter. Resona Asset Management Co. Ltd. now owns 127,235 shares of the real estate investment trust’s stock worth $17,982,000 after purchasing an additional 7,831 shares during the period. Finally, Ethic Inc. boosted its holdings in shares of Extra Space Storage by 298.0% during the third quarter. Ethic Inc. now owns 22,441 shares of the real estate investment trust’s stock worth $3,163,000 after purchasing an additional 16,802 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analyst Ratings Changes

EXR has been the subject of several analyst reports. Bank of America lowered Extra Space Storage from a “neutral” rating to an “underperform” rating and set a $143.00 target price for the company. in a research note on Thursday, February 5th. Truist Financial increased their price objective on shares of Extra Space Storage from $142.00 to $146.00 and gave the stock a “hold” rating in a report on Tuesday, January 20th. Evercore restated a “cautious” rating on shares of Extra Space Storage in a report on Monday, November 3rd. Morgan Stanley cut their price target on shares of Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Friday, December 5th. Finally, Mizuho lifted their price target on shares of Extra Space Storage from $137.00 to $143.00 and gave the company an “outperform” rating in a report on Monday, January 12th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $144.67.

Extra Space Storage Stock Up 0.7%

Shares of NYSE EXR opened at $142.45 on Thursday. The stock has a fifty day moving average price of $136.18 and a 200 day moving average price of $138.66. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.89. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $162.77. The company has a market cap of $30.24 billion, a P/E ratio of 31.80, a P/E/G ratio of 1.70 and a beta of 1.27.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Monday, December 15th. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.64%.

Extra Space Storage 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.