Mirae Asset Global Investments Co. Ltd. Buys 3,260 Shares of Extra Space Storage Inc (NYSE:EXR)

Mirae Asset Global Investments Co. Ltd. increased its stake in Extra Space Storage Inc (NYSE:EXR) by 9.4% in the first quarter, HoldingsChannel reports. The fund owned 37,843 shares of the real estate investment trust’s stock after purchasing an additional 3,260 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Extra Space Storage were worth $5,505,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Harbour Investments Inc. increased its holdings in Extra Space Storage by 90.9% during the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 80 shares during the period. Quarry LP increased its holdings in Extra Space Storage by 156.1% during the 4th quarter. Quarry LP now owns 356 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 217 shares during the period. Golden State Wealth Management LLC increased its holdings in Extra Space Storage by 147.0% during the 1st quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 241 shares during the period. Parvin Asset Management LLC purchased a new position in Extra Space Storage during the 4th quarter valued at about $62,000. Finally, Lindbrook Capital LLC increased its holdings in Extra Space Storage by 14.9% during the 4th quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust’s stock valued at $78,000 after purchasing an additional 68 shares during the period. Institutional investors own 99.11% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on EXR shares. Evercore ISI boosted their price target on Extra Space Storage from $144.00 to $149.00 and gave the company an “in-line” rating in a report on Thursday, May 1st. BNP Paribas Exane started coverage on Extra Space Storage in a report on Tuesday, June 24th. They set a “neutral” rating and a $156.00 price target on the stock. Bank of America boosted their price target on Extra Space Storage from $155.00 to $161.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. upped their target price on Extra Space Storage from $160.00 to $162.00 and gave the stock a “neutral” rating in a report on Friday, June 13th. Finally, Royal Bank Of Canada reduced their target price on Extra Space Storage from $163.00 to $160.00 and set a “sector perform” rating on the stock in a report on Thursday, May 1st. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Extra Space Storage presently has an average rating of “Hold” and a consensus price target of $159.29.

Extra Space Storage Stock Performance

Shares of EXR opened at $150.43 on Wednesday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.85. The business’s 50 day moving average price is $147.85 and its 200-day moving average price is $148.32. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $184.87. The stock has a market cap of $31.92 billion, a P/E ratio of 34.90, a P/E/G ratio of 3.58 and a beta of 1.10.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.04. Extra Space Storage had a return on equity of 6.11% and a net margin of 27.84%. The firm had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $705.12 million. During the same period in the previous year, the firm posted $1.96 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities research analysts anticipate that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a $1.62 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.31%. Extra Space Storage’s dividend payout ratio is currently 150.35%.

Extra Space Storage Company 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.