Cibc World Market Inc. Has $29.06 Million Holdings in Extra Space Storage Inc $EXR

Key Points

• Cibc World Market Inc. increased its stake in Extra Space Storage by 16.9% in the fourth quarter, holding 223,123 shares worth about $29.06 million as of the latest filing.
• Extra Space Storage reported Q1 earnings of $1.14 per share, missing analysts’ estimate of $2.01, while revenue came in slightly ahead of expectations at $856.03 million and rose 4.4% year over year.
• The company declared a quarterly dividend of $1.62 per share payable June 30, implying an annualized yield of about 4.4%; meanwhile, analysts currently have a consensus rating of Hold with a $152.29 price target.

Cibc World Market Inc. boosted its position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 16.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 223,123 shares of the real estate investment trust's stock after purchasing an additional 32,260 shares during the period. Cibc World Market Inc. owned about 0.11% of Extra Space Storage worth $29,055,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Extra Space Storage by 0.5% during the third quarter. Vanguard Group Inc. now owns 34,430,823 shares of the real estate investment trust's stock worth $4,852,680,000 after buying an additional 161,171 shares during the period. State Street Corp raised its position in Extra Space Storage by 1.7% in the 3rd 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 during the last quarter. Norges Bank bought a new stake in Extra Space Storage in the 4th quarter valued at approximately $1,219,606,000. Capital World Investors lifted its stake in Extra Space Storage by 0.5% in the 3rd quarter. Capital World Investors now owns 7,161,360 shares of the real estate investment trust's stock valued at $1,009,371,000 after acquiring an additional 33,622 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Extra Space Storage by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 5,945,315 shares of the real estate investment trust's stock worth $771,397,000 after acquiring an additional 56,118 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Insiders Place Their Bets

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

Extra Space Storage Price Performance

NYSE:EXR opened at $145.87 on Friday. The stock has a market capitalization of $30.82 billion, a PE ratio of 32.71, a P/E/G ratio of 4.65 and a beta of 1.20. Extra Space Storage Inc has a 1-year low of $125.71 and a 1-year high of $155.19. The firm has a fifty day simple moving average of $140.13 and a 200 day simple moving average of $138.77. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93.

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

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $1.62 per share. The ex-dividend date is Monday, June 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.4%. Extra Space Storage's dividend payout ratio (DPR) is presently 145.29%.

Wall Street Analyst Weigh In

EXR has been the topic of a number of research reports. Truist Financial cut their price objective on shares of Extra Space Storage from $158.00 to $150.00 and set a "hold" rating on the stock in a research report on Wednesday, May 6th. UBS Group raised their target price on shares of Extra Space Storage from $148.00 to $158.00 and gave the company a "buy" rating in a research report on Monday, May 18th. Wall Street Zen upgraded shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Saturday, May 30th. Weiss Ratings reissued a "hold (c)" rating on shares of Extra Space Storage in a research report on Tuesday, April 21st. Finally, BNP Paribas Exane upgraded Extra Space Storage from a "neutral" rating to an "outperform" rating and set a $154.00 price objective 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.com, the stock has a consensus rating of "Hold" and a consensus price target of $152.29.

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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