CIBC Bancorp USA Inc. Purchases Shares of 155,067 Extra Space Storage Inc $EXR

Key Points

• CIBC Bancorp USA acquired a new stake of 155,067 shares in Extra Space Storage (NYSE:EXR) during Q3, worth about $21.86 million and representing roughly 0.07% of the company.
• Extra Space Storage beat Q results with $2.08 EPS vs. $2.03 expected and $857.47M revenue vs. $732.92M expected, and set FY2026 guidance of $8.05–$8.35 per share.
• The company declared a quarterly dividend of $1.62 (annualized $6.48), implying a ~4.8% yield, though the dividend payout ratio is a high 140.87%.

CIBC Bancorp USA Inc. acquired a new stake in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 155,067 shares of the real estate investment trust's stock, valued at approximately $21,855,000. CIBC Bancorp USA Inc. owned 0.07% of Extra Space Storage as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Extra Space Storage by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 34,430,823 shares of the real estate investment trust's stock worth $4,852,680,000 after purchasing an additional 161,171 shares in the last quarter. State Street Corp boosted its position in Extra Space Storage by 1.7% in the third quarter. State Street Corp now owns 13,910,878 shares of the real estate investment trust's stock valued at $1,960,599,000 after buying an additional 230,697 shares in the last quarter. Norges Bank acquired a new position in Extra Space Storage in the second quarter valued at about $1,058,303,000. Capital World Investors grew its stake in Extra Space Storage by 0.5% during the third quarter. Capital World Investors now owns 7,161,360 shares of the real estate investment trust's stock worth $1,009,371,000 after buying an additional 33,622 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in Extra Space Storage by 6.4% during the third quarter. Principal Financial Group Inc. now owns 6,715,901 shares of the real estate investment trust's stock worth $946,540,000 after buying an additional 406,146 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $136.27 on Thursday. The business's 50-day simple moving average is $143.69 and its 200 day simple moving average is $139.70. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.92. The stock has a market cap of $28.77 billion, a price-to-earnings ratio of 29.62, a P/E/G ratio of 2.78 and a beta of 1.24. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $155.19.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its earnings results on Thursday, February 19th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.05. The company had revenue of $857.47 million for the quarter, compared to the consensus estimate of $732.92 million. Extra Space Storage had a net margin of 28.84% and a return on equity of 6.79%. The company's revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.03 EPS. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. As a group, research analysts anticipate that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.8%. The ex-dividend date is Monday, March 16th. Extra Space Storage's dividend payout ratio is currently 140.87%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Morgan Stanley cut their target price on shares of Extra Space Storage from $155.00 to $152.00 and set an "equal weight" rating for the company in a research note on Friday, December 5th. Barclays increased their price target on Extra Space Storage from $164.00 to $170.00 and gave the stock an "overweight" rating in a research report on Thursday, March 5th. Scotiabank lifted their price objective on Extra Space Storage from $145.00 to $156.00 and gave the company a "sector perform" rating in a research report on Monday, March 2nd. UBS Group reduced their price objective on Extra Space Storage from $156.00 to $148.00 and set a "buy" rating on the stock in a research note on Thursday, January 8th. Finally, Truist Financial increased their target price on Extra Space Storage from $142.00 to $146.00 and gave the stock a "hold" rating in a report on Tuesday, January 20th. Six equities 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 data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $145.00.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $142.08, for a total value of $1,065,600.00. Following the transaction, the chief executive officer directly owned 66,495 shares of the company's stock, valued at approximately $9,447,609.60. This trade represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.96% of the stock is owned by corporate insiders.

Extra Space Storage Company 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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