CANADA LIFE ASSURANCE Co Increases Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

CANADA LIFE ASSURANCE Co increased its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 1.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 417,651 shares of the real estate investment trust’s stock after acquiring an additional 6,122 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.20% of Extra Space Storage worth $62,458,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Extra Space Storage during the fourth quarter worth $938,647,000. Manning & Napier Advisors LLC lifted 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 worth $116,985,000 after buying an additional 718,266 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its holdings in Extra Space Storage by 91.2% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,089,753 shares of the real estate investment trust’s stock worth $163,027,000 after buying an additional 519,934 shares in the last quarter. Cohen & Steers Inc. boosted its position in Extra Space Storage by 5.9% in the 4th quarter. Cohen & Steers Inc. now owns 9,246,133 shares of the real estate investment trust’s stock valued at $1,383,094,000 after buying an additional 516,941 shares during the last quarter. Finally, Amundi grew its stake in shares of Extra Space Storage by 82.0% during the fourth quarter. Amundi now owns 828,644 shares of the real estate investment trust’s stock valued at $122,649,000 after acquiring an additional 373,274 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Mizuho assumed coverage on Extra Space Storage in a research note on Wednesday, April 9th. They issued an “outperform” rating and a $141.00 price target on the stock. Scotiabank raised Extra Space Storage from a “sector perform” rating to a “sector outperform” rating and cut their target price for the company from $165.00 to $149.00 in a research report on Wednesday, April 9th. StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Barclays cut their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. Finally, Wells Fargo & Company decreased their price objective on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. Two analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $167.25.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was 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 directly owns 9,190 shares in the company, valued at $1,355,065.50. This trade represents a 44.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph J. Bonner sold 672 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total value of $100,195.20. Following the transaction, the director now owns 4,557 shares of the company’s stock, valued at $679,448.70. This trade represents a 12.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,392 shares of company stock worth $1,392,315 in the last ninety days. 1.36% of the stock is owned by insiders.

Extra Space Storage Price Performance

EXR opened at $140.99 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The company’s 50-day moving average price is $147.25 and its 200 day moving average price is $155.68. Extra Space Storage Inc. has a fifty-two week low of $121.03 and a fifty-two week high of $184.87. The firm has a market cap of $29.92 billion, a price-to-earnings ratio of 36.91, a price-to-earnings-growth ratio of 7.76 and a beta of 0.96.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.93. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. As a group, sell-side analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $1.62 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.60%. Extra Space Storage’s dividend payout ratio (DPR) is presently 160.40%.

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.