CIBC Asset Management Inc Purchases 1,402 Shares of Extra Space Storage Inc. (NYSE:EXR)

CIBC Asset Management Inc boosted its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 4.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,279 shares of the real estate investment trust’s stock after purchasing an additional 1,402 shares during the period. CIBC Asset Management Inc’s holdings in Extra Space Storage were worth $4,829,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in Extra Space Storage by 1.7% during the 3rd quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust’s stock worth $2,412,894,000 after purchasing an additional 227,006 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Extra Space Storage by 4.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,366,107 shares of the real estate investment trust’s stock worth $426,349,000 after purchasing an additional 111,137 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Extra Space Storage by 10.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,020,459 shares of the real estate investment trust’s stock worth $364,066,000 after purchasing an additional 189,949 shares in the last quarter. Pathway Financial Advisers LLC increased its holdings in Extra Space Storage by 17,832.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust’s stock worth $363,783,000 after purchasing an additional 2,007,626 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Extra Space Storage by 724.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust’s stock worth $357,100,000 after buying an additional 1,741,320 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Trading Down 0.8 %

Shares of NYSE:EXR opened at $153.76 on Thursday. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87. The company has a market capitalization of $32.59 billion, a P/E ratio of 40.25, a price-to-earnings-growth ratio of 7.71 and a beta of 0.91. The company has a 50-day simple moving average of $151.71 and a 200 day simple moving average of $163.79. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.

Analyst Ratings Changes

EXR has been the subject of a number of recent research reports. StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Barclays reduced their price objective on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Scotiabank upgraded shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective for the company in a research note on Friday, January 10th. Finally, Truist Financial increased their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $174.00.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the completion of the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.36% of the stock is currently owned by company insiders.

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.