BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 3,040 Shares of Extra Space Storage Inc. (NYSE:EXR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Extra Space Storage Inc. (NYSE:EXR) by 14.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,213 shares of the real estate investment trust’s stock after purchasing an additional 3,040 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Extra Space Storage were worth $3,967,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of EXR. Massachusetts Financial Services Co. MA lifted its position in Extra Space Storage by 72.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,717,488 shares of the real estate investment trust’s stock worth $227,653,000 after acquiring an additional 720,549 shares during the last quarter. Cbre Clarion Securities LLC lifted its position in Extra Space Storage by 63.4% during the 1st quarter. Cbre Clarion Securities LLC now owns 1,645,100 shares of the real estate investment trust’s stock worth $218,058,000 after acquiring an additional 638,001 shares during the last quarter. Cohen & Steers Inc. lifted its position in Extra Space Storage by 5.7% during the 1st quarter. Cohen & Steers Inc. now owns 9,856,609 shares of the real estate investment trust’s stock worth $1,306,505,000 after acquiring an additional 531,326 shares during the last quarter. Schroder Investment Management Group lifted its position in Extra Space Storage by 116.9% during the 1st quarter. Schroder Investment Management Group now owns 395,826 shares of the real estate investment trust’s stock worth $52,467,000 after acquiring an additional 213,355 shares during the last quarter. Finally, Capitolis Advisors LLC lifted its position in Extra Space Storage by 2,551.0% during the 1st quarter. Capitolis Advisors LLC now owns 199,382 shares of the real estate investment trust’s stock worth $26,428,000 after acquiring an additional 191,861 shares during the last quarter. Hedge funds and other institutional investors own 96.43% of the company’s stock.

In other Extra Space Storage news, CEO Joseph D. Margolis sold 3,750 shares of the firm’s stock in a transaction that occurred on Thursday, July 1st. The shares were sold at an average price of $164.89, for a total value of $618,337.50. Following the transaction, the chief executive officer now directly owns 52,492 shares of the company’s stock, valued at $8,655,405.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Samrat Sondhi sold 11,140 shares of the firm’s stock in a transaction that occurred on Thursday, July 29th. The shares were sold at an average price of $173.83, for a total transaction of $1,936,466.20. Following the completion of the transaction, the chief operating officer now directly owns 82,260 shares in the company, valued at $14,299,255.80. The disclosure for this sale can be found here. Insiders have sold 17,390 shares of company stock worth $2,990,854 over the last three months. 2.20% of the stock is owned by insiders.

A number of research analysts have weighed in on the stock. UBS Group assumed coverage on shares of Extra Space Storage in a research report on Thursday, June 3rd. They set a “buy” rating and a $168.00 target price for the company. JPMorgan Chase & Co. upped their price objective on shares of Extra Space Storage from $140.00 to $171.00 and gave the company an “overweight” rating in a research report on Wednesday, June 30th. Wells Fargo & Company upped their price objective on shares of Extra Space Storage from $147.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, May 28th. Truist Securities upped their price objective on shares of Extra Space Storage from $176.00 to $188.00 and gave the company a “buy” rating in a research report on Monday, August 16th. Finally, Raymond James lowered shares of Extra Space Storage from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $170.15.

Shares of Extra Space Storage stock opened at $183.56 on Wednesday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $24.56 billion, a price-to-earnings ratio of 37.85, a P/E/G ratio of 3.31 and a beta of 0.19. Extra Space Storage Inc. has a 1-year low of $102.74 and a 1-year high of $194.67. The firm’s 50-day moving average price is $177.77 and its two-hundred day moving average price is $156.69.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, July 27th. The real estate investment trust reported $1.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.56 by ($0.31). Extra Space Storage had a net margin of 46.33% and a return on equity of 21.51%. The company had revenue of $378.60 million for the quarter, compared to the consensus estimate of $318.63 million. During the same period last year, the company earned $1.23 earnings per share. Extra Space Storage’s revenue for the quarter was up 35.6% compared to the same quarter last year. As a group, equities research analysts predict that Extra Space Storage Inc. will post 6.57 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Wednesday, September 15th will be paid a dividend of $1.25 per share. This is a boost from Extra Space Storage’s previous quarterly dividend of $1.00. This represents a $5.00 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Tuesday, September 14th. Extra Space Storage’s dividend payout ratio is 75.76%.

Extra Space Storage Company Profile

Extra Space Storage, Inc is a real estate investment trust. It operates through the following segments: Self-Storage Operations and Tenant Reinsurance. The Self-Storage Operations segment includes rental operations of wholly-owned stores. The Tenant Reinsurance segment includes reinsurance of risks relating to the loss of goods stored by tenants in stores.

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

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