Extra Space Storage Inc $EXR Stock Holdings Increased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Extra Space Storage Inc (NYSE:EXR) by 34.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,409 shares of the real estate investment trust’s stock after purchasing an additional 7,272 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Extra Space Storage were worth $4,201,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Gotham Asset Management LLC raised its holdings in shares of Extra Space Storage by 29.3% in the 1st quarter. Gotham Asset Management LLC now owns 94,869 shares of the real estate investment trust’s stock worth $14,087,000 after purchasing an additional 21,473 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Extra Space Storage by 3.5% in the 1st quarter. Alliancebernstein L.P. now owns 452,777 shares of the real estate investment trust’s stock worth $67,233,000 after purchasing an additional 15,286 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Extra Space Storage by 570.3% in the 1st quarter. AQR Capital Management LLC now owns 1,124,206 shares of the real estate investment trust’s stock worth $166,180,000 after purchasing an additional 956,500 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Extra Space Storage by 15.3% in the 1st quarter. Advisors Asset Management Inc. now owns 12,995 shares of the real estate investment trust’s stock worth $1,930,000 after purchasing an additional 1,722 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Extra Space Storage in the 1st quarter worth approximately $13,894,000. 99.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday. Royal Bank Of Canada dropped their target price on shares of Extra Space Storage from $160.00 to $148.00 and set a “sector perform” rating on the stock in a research report on Monday, August 4th. JPMorgan Chase & Co. lifted their target price on shares of Extra Space Storage from $160.00 to $162.00 and gave the stock a “neutral” rating in a research report on Friday, June 13th. Barclays dropped their target price on shares of Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. Finally, Evercore ISI dropped their target price on shares of Extra Space Storage from $148.00 to $146.00 and set an “in-line” rating on the stock in a research report on Monday, August 4th. Six research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $151.57.

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $150.35, for a total value of $1,127,625.00. Following the transaction, the chief executive officer owned 27,260 shares in the company, valued at $4,098,541. This trade represents a 21.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.96% of the company’s stock.

Extra Space Storage Price Performance

Shares of EXR opened at $148.46 on Friday. The firm has a market cap of $31.51 billion, a PE ratio of 32.20, a PEG ratio of 3.51 and a beta of 1.09. The firm’s 50 day moving average price is $144.00 and its 200 day moving average price is $145.68. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29. Extra Space Storage Inc has a twelve month low of $121.03 and a twelve month high of $184.87.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.01). The business had revenue of $841.62 million for the quarter, compared to the consensus estimate of $719.43 million. Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. Extra Space Storage’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.06 EPS. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. As a group, research analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Monday, September 15th. Extra Space Storage’s payout ratio is presently 140.56%.

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.