78,340 Shares in Extra Space Storage Inc $EXR Acquired by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management acquired 78,340 shares of Extra Space Storage worth approximately $11.4 million, while institutional investors collectively own 99.11% of the company.
• Analysts maintain a generally cautious outlook: EXR has an average rating of “Hold” and a consensus price target of $148.53, compared with its reported opening price of $144.08.
• Extra Space Storage reported quarterly EPS of $1.25, exceeding estimates of $1.16, and declared a $1.62 quarterly dividend—equivalent to a 4.5% yield and $6.48 annualized.

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 78,340 shares of the real estate investment trust's stock, valued at approximately $11,383,000.

Several other large investors have also added to or reduced their stakes in the company. Apollon Wealth Management LLC increased its stake in shares of Extra Space Storage by 1.9% in the first quarter. Apollon Wealth Management LLC now owns 3,986 shares of the real estate investment trust's stock worth $523,000 after purchasing an additional 75 shares in the last quarter. Brown Advisory Inc. lifted its stake in shares of Extra Space Storage by 1.8% during the 2nd 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 in the last quarter. Manchester Capital Management LLC lifted its stake in shares of Extra Space Storage by 18.9% during the 4th quarter. Manchester Capital Management LLC now owns 540 shares of the real estate investment trust's stock valued at $70,000 after buying an additional 86 shares in the last quarter. Angeles Wealth Management LLC boosted its holdings in Extra Space Storage by 3.2% in the 1st quarter. Angeles Wealth Management LLC now owns 2,794 shares of the real estate investment trust's stock worth $366,000 after buying an additional 87 shares during the period. Finally, Creative Financial Designs Inc. ADV boosted its holdings in Extra Space Storage by 39.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 325 shares of the real estate investment trust's stock worth $42,000 after buying an additional 92 shares during the period. Hedge funds and other institutional investors own 99.11% of the company's stock.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 3,300 shares of Extra Space Storage stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $150.00, for a total value of $495,000.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.96% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on EXR. Scotiabank increased their price target on Extra Space Storage from $157.00 to $158.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 18th. Truist Financial boosted their price objective on Extra Space Storage from $140.00 to $148.00 and gave the company a "hold" rating in a research report on Wednesday, June 17th. Wall Street Zen raised Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Sunday, August 9th. UBS Group increased their target price on Extra Space Storage from $158.00 to $163.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Finally, Royal Bank Of Canada lifted their target price 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. Six equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $148.53.

Extra Space Storage Stock Down 0.5%

EXR opened at $144.08 on Thursday. The firm has a 50-day simple moving average of $147.28 and a two-hundred day simple moving average of $143.94. Extra Space Storage Inc has a 52 week low of $125.71 and a 52 week high of $158.88. The company has a market capitalization of $30.44 billion, a PE ratio of 31.81, a price-to-earnings-growth ratio of 4.16 and a beta of 1.18. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.96.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.09. Extra Space Storage had a return on equity of 6.70% and a net margin of 27.80%.The firm had revenue of $874.15 million during the quarter, compared to analyst estimates of $874.99 million. During the same quarter last year, the business posted $2.05 earnings per share. The business's quarterly revenue was up 3.9% compared to the same quarter last year. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. Analysts forecast that Extra Space Storage Inc will post 8.33 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $1.62 per share. 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 dividend payout ratio (DPR) is currently 143.05%.

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.

Want to see what other hedge funds are holding EXR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Extra Space Storage Inc (NYSE:EXR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.