Mackenzie Financial Corp Has $3.06 Million Position in Extra Space Storage Inc. (NYSE:EXR)

Mackenzie Financial Corp increased its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 28.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,108 shares of the real estate investment trust’s stock after purchasing an additional 4,186 shares during the quarter. Mackenzie Financial Corp’s holdings in Extra Space Storage were worth $3,064,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EXR. Louisiana State Employees Retirement System acquired a new position in shares of Extra Space Storage during the fourth quarter worth $2,052,000. NewEdge Wealth LLC increased its holdings in Extra Space Storage by 30.3% in the 4th quarter. NewEdge Wealth LLC now owns 3,655 shares of the real estate investment trust’s stock worth $586,000 after purchasing an additional 850 shares in the last quarter. Clarius Group LLC raised its position in Extra Space Storage by 14.5% in the fourth quarter. Clarius Group LLC now owns 2,362 shares of the real estate investment trust’s stock valued at $379,000 after purchasing an additional 300 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Extra Space Storage by 47.4% during the fourth quarter. Cerity Partners LLC now owns 6,564 shares of the real estate investment trust’s stock valued at $1,052,000 after purchasing an additional 2,110 shares in the last quarter. Finally, Liberty One Investment Management LLC bought a new stake in shares of Extra Space Storage during the fourth quarter worth about $3,540,000. Institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

EXR has been the topic of several recent research reports. The Goldman Sachs Group lifted their target price on shares of Extra Space Storage from $168.00 to $187.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Barclays started coverage on shares of Extra Space Storage in a research note on Wednesday, March 27th. They issued an “overweight” rating and a $157.00 price objective on the stock. Raymond James reaffirmed an “outperform” rating and set a $160.00 target price on shares of Extra Space Storage in a research report on Thursday, March 28th. Truist Financial upped their price target on Extra Space Storage from $138.00 to $152.00 and gave the company a “hold” rating in a research report on Thursday, December 28th. Finally, Scotiabank assumed coverage on Extra Space Storage in a research report on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $150.17.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $146.46, for a total value of $299,950.08. Following the transaction, the chief marketing officer now owns 94,126 shares in the company, valued at $13,785,693.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the transaction, the chief marketing officer now owns 94,126 shares in the company, valued at $13,785,693.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the transaction, the executive vice president now directly owns 37,028 shares in the company, valued at $5,369,060. The disclosure for this sale can be found here. Insiders sold 3,532 shares of company stock valued at $514,819 in the last three months. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Trading Up 0.2 %

Shares of EXR stock opened at $132.74 on Tuesday. The company has a market cap of $28.09 billion, a P/E ratio of 26.87, a PEG ratio of 3.25 and a beta of 0.74. Extra Space Storage Inc. has a fifty-two week low of $101.19 and a fifty-two week high of $164.99. The stock has a 50 day simple moving average of $142.39 and a two-hundred day simple moving average of $137.93. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.30 and a current ratio of 0.30.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.01). The company had revenue of $797.77 million during the quarter, compared to the consensus estimate of $778.05 million. Extra Space Storage had a net margin of 31.81% and a return on equity of 8.34%. The business’s revenue was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.09 EPS. Research analysts forecast that Extra Space Storage Inc. will post 8.05 earnings per share for the current year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $1.62 dividend. The ex-dividend date was Thursday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.88%. Extra Space Storage’s dividend payout ratio is presently 131.17%.

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.