BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 5,255 Shares of Extra Space Storage Inc. (NYSE:EXR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 242,586 shares of the real estate investment trust's stock after buying an additional 5,255 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.11% of Extra Space Storage worth $36,291,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC acquired a new stake in Extra Space Storage during the 4th quarter valued at $25,000. Harbour Investments Inc. grew its holdings in shares of Extra Space Storage by 90.9% during the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 80 shares in the last quarter. Quent Capital LLC raised its position in Extra Space Storage by 89.0% during the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 154 shares during the period. Asset Planning Inc acquired a new stake in Extra Space Storage during the 4th quarter worth about $52,000. Finally, Quarry LP grew its position in Extra Space Storage by 156.1% during the fourth quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 217 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Price Performance

Shares of EXR stock traded up $1.13 during trading on Monday, hitting $145.91. The company had a trading volume of 829,242 shares, compared to its average volume of 1,057,908. The stock's 50-day moving average price is $143.25 and its 200 day moving average price is $151.37. The firm has a market capitalization of $30.96 billion, a P/E ratio of 38.20, a price-to-earnings-growth ratio of 7.76 and a beta of 1.14. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. Extra Space Storage Inc. has a one year low of $121.03 and a one year high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.04. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $820.00 million for the quarter, compared to analysts' expectations of $705.12 million. During the same period last year, the firm posted $1.96 earnings per share. The firm's quarterly revenue was up 2.6% compared to the same quarter last year. Equities analysts expect that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend is Monday, June 16th. Extra Space Storage's payout ratio is 150.35%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Benchmark dropped their price target on shares of Extra Space Storage from $61.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Scotiabank increased their target price on Extra Space Storage from $149.00 to $166.00 and gave the company a "sector outperform" rating in a research note on Monday, May 12th. Barclays lowered their price objective on Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Finally, Bank of America lifted their price objective on Extra Space Storage from $155.00 to $161.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $158.46.

Insider Transactions at Extra Space Storage

In related news, Director Joseph J. Bonner sold 672 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total transaction of $100,195.20. Following the transaction, the director now directly owns 4,557 shares of the company's stock, valued at approximately $679,448.70. This represents a 12.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William N. Springer sold 1,220 shares of the firm's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $152.66, for a total transaction of $186,245.20. Following the completion of the transaction, the executive vice president now directly owns 20,158 shares in the company, valued at $3,077,320.28. This trade represents a 5.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,392 shares of company stock worth $1,392,315. Insiders own 0.96% of the company's stock.

Extra Space Storage Profile

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.