Mackenzie Financial Corp Trims Position in Extra Space Storage Inc. (NYSE:EXR)

Mackenzie Financial Corp lowered its position in Extra Space Storage Inc. (NYSE:EXR) by 0.7% in the second quarter, HoldingsChannel reports. The firm owned 19,042 shares of the real estate investment trust’s stock after selling 137 shares during the period. Mackenzie Financial Corp’s holdings in Extra Space Storage were worth $2,959,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Millennium Management LLC grew its stake in shares of Extra Space Storage by 42.8% in the 2nd quarter. Millennium Management LLC now owns 505,208 shares of the real estate investment trust’s stock valued at $78,514,000 after buying an additional 151,368 shares during the period. MBB Public Markets I LLC acquired a new position in Extra Space Storage in the second quarter valued at approximately $2,358,000. Element Pointe Advisors LLC purchased a new position in Extra Space Storage in the second quarter worth approximately $202,000. Employees Retirement System of Texas increased its stake in Extra Space Storage by 10.7% during the second quarter. Employees Retirement System of Texas now owns 92,745 shares of the real estate investment trust’s stock worth $14,414,000 after acquiring an additional 9,000 shares during the last quarter. Finally, Squarepoint Ops LLC raised its position in Extra Space Storage by 382.2% in the second quarter. Squarepoint Ops LLC now owns 27,630 shares of the real estate investment trust’s stock valued at $4,294,000 after purchasing an additional 21,900 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EXR has been the subject of a number of research analyst reports. Scotiabank increased their price target on Extra Space Storage from $159.00 to $169.00 and gave the stock a “sector underperform” rating in a report on Thursday, August 22nd. Evercore ISI lifted their price target on shares of Extra Space Storage from $167.00 to $170.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Jefferies Financial Group raised shares of Extra Space Storage from a “hold” rating to a “buy” rating and increased their price objective for the stock from $162.00 to $204.00 in a research report on Wednesday, September 18th. Citigroup cut 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. Finally, KeyCorp raised their price target on Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $170.93.

Insider Buying and Selling at Extra Space Storage

In other news, EVP William N. Springer sold 2,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total value of $350,660.00. Following the transaction, the executive vice president now owns 11,919 shares in the company, valued at approximately $2,089,758.27. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP William N. Springer sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total value of $350,660.00. Following the completion of the transaction, the executive vice president now owns 11,919 shares in the company, valued at approximately $2,089,758.27. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of Extra Space Storage stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $177.01, for a total transaction of $499,699.23. Following the sale, the executive vice president now owns 32,855 shares in the company, valued at $5,815,663.55. The disclosure for this sale can be found here. Insiders have sold a total of 11,470 shares of company stock worth $2,028,407 over the last ninety days. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Down 0.6 %

Shares of Extra Space Storage stock opened at $177.23 on Thursday. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.76. Extra Space Storage Inc. has a 52-week low of $101.19 and a 52-week high of $184.87. The company has a market capitalization of $37.52 billion, a P/E ratio of 39.47, a P/E/G ratio of 2.67 and a beta of 0.86. The company has a 50 day moving average of $172.34 and a 200 day moving average of $156.63.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend was Monday, September 16th. Extra Space Storage’s dividend payout ratio (DPR) is presently 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.