Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 78,340 Extra Space Storage Inc $EXR

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Extra Space Storage Inc (NYSE:EXR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 78,340 shares of the real estate investment trust’s stock, valued at approximately $11,383,000.

A number of other large investors have also recently made changes to their positions in EXR. Capital Square LLC purchased a new stake in shares of Extra Space Storage during the 2nd quarter valued at about $884,000. Meiji Yasuda Asset Management Co Ltd. purchased a new position in Extra Space Storage in the second quarter worth about $392,000. Bank of Nova Scotia purchased a new position in Extra Space Storage in the second quarter worth about $7,434,000. Elevation Point Wealth Partners LLC bought a new stake in Extra Space Storage during the second quarter worth approximately $518,000. Finally, Daiichi Life Insurance Co. Ltd. bought a new stake in Extra Space Storage during the second quarter worth approximately $581,000. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Stock Down 0.5%

Shares of NYSE EXR opened at $144.08 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.56 and a quick ratio of 1.56. The company has a market cap of $30.44 billion, a P/E ratio of 31.81, a PEG ratio of 4.16 and a beta of 1.18. Extra Space Storage Inc has a 1 year low of $125.71 and a 1 year high of $158.88. The firm has a 50-day simple moving average of $147.28 and a two-hundred day simple moving average of $143.94.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.09. The business had revenue of $874.15 million during the quarter, compared to analyst estimates of $874.99 million. Extra Space Storage had a return on equity of 6.70% and a net margin of 27.80%.The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.05 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. Research analysts anticipate that Extra Space Storage Inc will post 8.33 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, September 15th. Extra Space Storage’s dividend payout ratio is 143.05%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EXR. Truist Financial raised their price objective on Extra Space Storage from $140.00 to $148.00 and gave the company a “hold” rating in a research note on Wednesday, June 17th. Raymond James Financial assumed coverage on Extra Space Storage in a research report on Thursday, July 16th. They set an “outperform” rating and a $44.00 target price on the stock. Scotiabank increased their price target on Extra Space Storage from $157.00 to $158.00 and gave the company a “sector perform” rating in a report on Tuesday, August 18th. BMO Capital Markets restated a “market perform” rating and issued a $160.00 price target on shares of Extra Space Storage in a research report on Monday. Finally, Weiss Ratings raised shares of Extra Space Storage from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, August 7th. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Extra Space Storage currently has a consensus rating of “Hold” and an average price target of $148.53.

Insider Buying and Selling

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $150.00, for a total value of $495,000.00. Following the sale, the executive vice president owned 37,374 shares in the company, valued at $5,606,100. This trade represents a 8.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.96% of the stock is owned by company insiders.

About Extra Space Storage

Extra Space Storage (NYSE: EXR) is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.