Ontario Teachers Pension Plan Board Reduces Stock Holdings in Extra Space Storage Inc $EXR

Ontario Teachers Pension Plan Board reduced its holdings in shares of Extra Space Storage Inc (NYSE:EXR) by 68.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,696 shares of the real estate investment trust’s stock after selling 8,008 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Extra Space Storage were worth $545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Mattson Financial Services LLC raised its position in Extra Space Storage by 17.7% during the first quarter. Mattson Financial Services LLC now owns 21,231 shares of the real estate investment trust’s stock valued at $3,153,000 after acquiring an additional 3,187 shares in the last quarter. IFP Advisors Inc boosted its position in Extra Space Storage by 1,376.5% in the 1st quarter. IFP Advisors Inc now owns 1,698 shares of the real estate investment trust’s stock worth $252,000 after purchasing an additional 1,583 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Extra Space Storage during the 1st quarter worth approximately $1,472,000. Janney Montgomery Scott LLC increased its holdings in shares of Extra Space Storage by 6.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 6,360 shares of the real estate investment trust’s stock valued at $938,000 after purchasing an additional 408 shares in the last quarter. Finally, waypoint wealth counsel acquired a new position in shares of Extra Space Storage in the 2nd quarter valued at $359,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Stock Performance

Shares of NYSE:EXR opened at $130.58 on Tuesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.29 and a quick ratio of 0.29. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $175.57. The firm has a market capitalization of $27.72 billion, a PE ratio of 29.15, a P/E/G ratio of 2.56 and a beta of 1.14. The business’s 50 day moving average price is $141.44 and its 200-day moving average price is $144.56.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.02. Extra Space Storage had a return on equity of 6.53% and a net margin of 28.40%.The company had revenue of $858.46 million for the quarter, compared to analyst estimates of $736.26 million. During the same quarter last year, the firm posted $2.07 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. As a group, equities research analysts expect that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a dividend of $1.62 per share. The ex-dividend date was Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a yield of 5.0%. Extra Space Storage’s payout ratio is presently 144.64%.

Analyst Ratings Changes

Several analysts recently commented on EXR shares. Evercore ISI restated a “cautious” rating on shares of Extra Space Storage in a research report on Monday, November 3rd. Barclays dropped their target price on Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. Truist Financial reduced their price target on Extra Space Storage from $158.00 to $150.00 and set a “hold” rating for the company in a report on Tuesday, August 19th. UBS Group dropped their price objective on Extra Space Storage from $169.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, September 16th. Finally, Citigroup reduced their target price on Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Friday, August 22nd. Six analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Extra Space Storage presently has an average rating of “Hold” and a consensus price target of $148.36.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $141.41, for a total value of $1,060,575.00. Following the completion of the sale, the chief executive officer owned 19,760 shares in the company, valued at approximately $2,794,261.60. This represents a 27.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.