Healthcare of Ontario Pension Plan Trust Fund Decreases Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Healthcare of Ontario Pension Plan Trust Fund lessened its holdings in Extra Space Storage Inc. (NYSE:EXR) by 77.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,000 shares of the real estate investment trust’s stock after selling 31,054 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Extra Space Storage were worth $1,323,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in EXR. Norges Bank acquired a new position in shares of Extra Space Storage during the fourth quarter worth about $1,022,811,000. Capital Research Global Investors lifted its position in Extra Space Storage by 111.4% during the 4th quarter. Capital Research Global Investors now owns 1,537,317 shares of the real estate investment trust’s stock worth $246,478,000 after acquiring an additional 810,158 shares in the last quarter. Principal Financial Group Inc. lifted its position in Extra Space Storage by 8.9% during the 4th quarter. Principal Financial Group Inc. now owns 7,083,752 shares of the real estate investment trust’s stock worth $1,135,738,000 after acquiring an additional 577,918 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Extra Space Storage by 80,945.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 506,533 shares of the real estate investment trust’s stock worth $81,213,000 after acquiring an additional 505,908 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Extra Space Storage by 25.8% during the fourth quarter. Wellington Management Group LLP now owns 2,199,347 shares of the real estate investment trust’s stock valued at $352,621,000 after purchasing an additional 451,242 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EXR. Wells Fargo & Company raised their price target on shares of Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Citigroup dropped their target price on Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Scotiabank increased their price target on Extra Space Storage from $140.00 to $159.00 and gave the company a “sector underperform” rating in a report on Friday, July 19th. Barclays lifted their price objective on Extra Space Storage from $157.00 to $158.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Finally, Evercore ISI increased their target price on Extra Space Storage from $140.00 to $151.00 and gave the company an “in-line” rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $156.42.

Insider Buying and Selling

In other news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the completion of the transaction, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the sale, the chief executive officer now owns 31,690 shares of the company’s stock, valued at approximately $4,835,260.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph J. Bonner sold 677 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $148.22, for a total value of $100,344.94. Following the transaction, the director now owns 5,229 shares of the company’s stock, valued at $775,042.38. The disclosure for this sale can be found here. 1.36% of the stock is owned by company insiders.

Extra Space Storage Stock Performance

Extra Space Storage stock traded down $1.18 during mid-day trading on Thursday, reaching $160.69. The company’s stock had a trading volume of 1,010,463 shares, compared to its average volume of 1,076,523. The firm has a market cap of $34.02 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 3.51 and a beta of 0.83. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $171.46. The business has a 50 day moving average price of $153.94 and a 200-day moving average price of $147.23. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $1.62 per share. The ex-dividend date was Friday, June 14th. This represents a $6.48 annualized dividend and a yield of 4.03%. Extra Space Storage’s dividend payout ratio (DPR) is 144.32%.

About Extra Space Storage

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.