CIBC Asset Management Inc Increases Holdings in Extra Space Storage Inc $EXR

Key Points

• CIBC Asset Management increased its stake in Extra Space Storage by 69.9% in the fourth quarter, and several other institutional investors also boosted holdings, with hedge funds and institutions now owning 99.11% of the stock.
• Wall Street sentiment remains mixed: Extra Space Storage has a consensus Hold rating and an average price target of $152.29, though some firms recently raised targets and upgraded ratings.
• The company reported Q1 earnings of $1.14 per share, missing estimates, while revenue rose 4.4% year over year; it also объявed a quarterly dividend of $1.62 per share, implying a 4.5% yield.

CIBC Asset Management Inc grew its holdings in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 69.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,863 shares of the real estate investment trust's stock after buying an additional 20,507 shares during the period. CIBC Asset Management Inc's holdings in Extra Space Storage were worth $6,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of EXR. Norges Bank purchased a new stake in Extra Space Storage during the 4th quarter worth about $1,219,606,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Extra Space Storage by 900.0% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,187,795 shares of the real estate investment trust's stock worth $308,348,000 after buying an additional 1,969,013 shares during the last quarter. Resolution Capital Ltd lifted its holdings in Extra Space Storage by 116.2% during the 2nd quarter. Resolution Capital Ltd now owns 1,950,842 shares of the real estate investment trust's stock worth $287,632,000 after buying an additional 1,048,685 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in Extra Space Storage by 61.8% during the 4th quarter. First Eagle Investment Management LLC now owns 2,552,053 shares of the real estate investment trust's stock worth $332,328,000 after buying an additional 974,804 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in Extra Space Storage by 191.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,362,422 shares of the real estate investment trust's stock worth $177,425,000 after buying an additional 895,013 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EXR has been the subject of several research reports. Mizuho boosted their target price on Extra Space Storage from $150.00 to $155.00 and gave the company an "outperform" rating in a report on Wednesday, May 27th. JPMorgan Chase & Co. boosted their target price on Extra Space Storage from $142.00 to $144.00 and gave the company a "neutral" rating in a report on Monday, March 23rd. Royal Bank Of Canada boosted their target price on Extra Space Storage from $142.00 to $153.00 and gave the company a "sector perform" rating in a report on Monday, February 23rd. Wall Street Zen raised Extra Space Storage from a "sell" rating to a "hold" rating in a report on Saturday, May 30th. Finally, BNP Paribas Exane raised Extra Space Storage from a "neutral" rating to an "outperform" rating and set a $154.00 target price for the company in a report on Wednesday, March 18th. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Extra Space Storage currently has a consensus rating of "Hold" and an average price target of $152.29.

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $142.08, for a total value of $1,065,600.00. Following the transaction, the chief executive officer owned 66,495 shares in the company, valued at $9,447,609.60. The trade was a 10.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.96% of the stock is owned by company insiders.

Extra Space Storage Stock Down 0.4%

Extra Space Storage stock opened at $145.34 on Friday. Extra Space Storage Inc has a fifty-two week low of $125.71 and a fifty-two week high of $155.19. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market capitalization of $30.71 billion, a P/E ratio of 32.59, a PEG ratio of 4.72 and a beta of 1.20. The stock has a 50-day simple moving average of $140.43 and a 200-day simple moving average of $138.81.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.87). The firm had revenue of $856.03 million during the quarter, compared to analysts' expectations of $851.35 million. Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The firm's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.00 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Equities research analysts expect that Extra Space Storage Inc will post 8.24 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.5%. The ex-dividend date is Monday, June 15th. Extra Space Storage's payout ratio is 145.29%.

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.

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