CIBC Asset Management Inc Sells 1,321 Shares of Extra Space Storage Inc. (NYSE:EXR)

CIBC Asset Management Inc decreased its position in shares of Extra Space Storage Inc. (NYSE:EXRFree Report) by 4.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,959 shares of the real estate investment trust’s stock after selling 1,321 shares during the quarter. CIBC Asset Management Inc’s holdings in Extra Space Storage were worth $4,643,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of EXR. NEOS Investment Management LLC acquired a new position in shares of Extra Space Storage during the fourth quarter valued at $480,000. The Manufacturers Life Insurance Company lifted its position in Extra Space Storage by 2.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 170,085 shares of the real estate investment trust’s stock valued at $27,270,000 after purchasing an additional 4,615 shares during the period. KBC Group NV boosted its stake in shares of Extra Space Storage by 11.8% in the 4th quarter. KBC Group NV now owns 34,567 shares of the real estate investment trust’s stock valued at $5,542,000 after purchasing an additional 3,654 shares during the last quarter. California State Teachers Retirement System grew its position in shares of Extra Space Storage by 5.9% during the 4th quarter. California State Teachers Retirement System now owns 338,256 shares of the real estate investment trust’s stock worth $54,233,000 after buying an additional 18,716 shares during the period. Finally, Alberta Investment Management Corp grew its position in shares of Extra Space Storage by 150.0% during the 4th quarter. Alberta Investment Management Corp now owns 8,250 shares of the real estate investment trust’s stock worth $1,323,000 after buying an additional 4,950 shares during the period. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Trading Up 0.3 %

EXR opened at $148.53 on Thursday. The stock has a market capitalization of $31.45 billion, a P/E ratio of 33.08, a P/E/G ratio of 3.55 and a beta of 0.81. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.73. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $164.99. The firm’s fifty day simple moving average is $142.75 and its 200 day simple moving average is $144.14.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $1.62 dividend. The ex-dividend date is Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.36%. Extra Space Storage’s dividend payout ratio (DPR) is 144.32%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Raymond James reaffirmed an “outperform” rating and issued a $160.00 price objective on shares of Extra Space Storage in a research note on Thursday, March 28th. StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, March 2nd. Scotiabank assumed coverage on Extra Space Storage in a research note on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 target price on the stock. Evercore ISI reduced their target price on Extra Space Storage from $145.00 to $139.00 in a report on Wednesday, May 1st. Finally, Barclays upped their price target on Extra Space Storage from $157.00 to $158.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $149.75.

View Our Latest Stock Report on Extra Space Storage

Extra Space Storage Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Extra Space Storage (NYSE:EXR)

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