Investment Management Corp of Ontario Purchases 2,579 Shares of Extra Space Storage Inc. (NYSE:EXR)

Investment Management Corp of Ontario lifted its stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 37.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,543 shares of the real estate investment trust's stock after buying an additional 2,579 shares during the period. Investment Management Corp of Ontario's holdings in Extra Space Storage were worth $1,428,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Manning & Napier Advisors LLC raised its holdings in Extra Space Storage by 1,127.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust's stock valued at $116,985,000 after buying an additional 718,266 shares during the last quarter. Vert Asset Management LLC raised its holdings in Extra Space Storage by 8.0% in the 4th quarter. Vert Asset Management LLC now owns 93,473 shares of the real estate investment trust's stock valued at $13,984,000 after buying an additional 6,910 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Extra Space Storage by 134.3% in the 4th quarter. Pacer Advisors Inc. now owns 167,735 shares of the real estate investment trust's stock valued at $25,093,000 after buying an additional 96,136 shares during the last quarter. Brentview Investment Management LLC bought a new position in Extra Space Storage in the 4th quarter valued at approximately $2,852,000. Finally, D.B. Root & Company LLC bought a new position in Extra Space Storage in the 4th quarter valued at approximately $313,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Trading Up 1.8%

Shares of EXR stock traded up $2.67 during trading hours on Thursday, hitting $148.48. 687,112 shares of the company were exchanged, compared to its average volume of 1,054,514. Extra Space Storage Inc. has a fifty-two week low of $121.03 and a fifty-two week high of $184.87. The company has a 50 day simple moving average of $143.25 and a two-hundred day simple moving average of $152.31. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a market cap of $31.51 billion, a P/E ratio of 38.87, a P/E/G ratio of 7.76 and a beta of 1.14.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 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 during the quarter, compared to analyst estimates of $705.12 million. During the same quarter in the previous year, the business posted $1.96 EPS. Extra Space Storage's quarterly revenue was up 2.6% on a year-over-year basis. Equities analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.36%. The ex-dividend date was Friday, March 14th. Extra Space Storage's dividend payout ratio (DPR) is presently 150.35%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on EXR shares. The Goldman Sachs Group restated a "buy" rating on shares of Extra Space Storage in a research report on Thursday, March 6th. StockNews.com upgraded shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. Evercore ISI lifted their target price on shares of Extra Space Storage from $144.00 to $149.00 and gave the stock an "in-line" rating in a research note on Thursday, May 1st. Bank of America increased their price target on Extra Space Storage from $155.00 to $161.00 and gave the stock a "neutral" rating in a report on Tuesday. Finally, Benchmark dropped their price objective on Extra Space Storage from $61.00 to $55.00 and set a "buy" rating on the stock in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $158.69.

Insider Buying and Selling at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total value of $1,105,875.00. Following the sale, the chief executive officer now owns 9,190 shares of the company's stock, valued at approximately $1,355,065.50. The trade was a 44.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph J. Bonner sold 672 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the sale, the director now owns 4,557 shares in the company, valued at $679,448.70. This represents a 12.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,392 shares of company stock worth $1,392,315. Corporate 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.