91,653 Shares in Extra Space Storage Inc $EXR Bought by Korea Investment CORP

Korea Investment CORP acquired a new position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 91,653 shares of the real estate investment trust's stock, valued at approximately $13,317,000.

Several other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Extra Space Storage in the second quarter valued at about $3,334,263,000. Cohen & Steers Inc. raised its stake in shares of Extra Space Storage by 13.4% during the 4th quarter. Cohen & Steers Inc. now owns 15,979,424 shares of the real estate investment trust's stock worth $2,080,971,000 after purchasing an additional 1,888,763 shares in the last quarter. State Street Corp grew its stake in shares of Extra Space Storage by 1.7% in the third quarter. State Street Corp now owns 13,910,878 shares of the real estate investment trust's stock valued at $1,960,599,000 after buying an additional 230,697 shares in the last quarter. Norges Bank acquired a new position in Extra Space Storage during the fourth quarter worth $1,219,606,000. Finally, Capital International Investors raised its position in Extra Space Storage by 73.9% during the fourth quarter. Capital International Investors now owns 6,256,687 shares of the real estate investment trust's stock worth $814,746,000 after acquiring an additional 2,658,947 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Stock Performance

NYSE EXR opened at $146.97 on Monday. The firm's 50 day simple moving average is $147.31 and its 200 day simple moving average is $143.82. The firm has a market capitalization of $31.05 billion, a price-to-earnings ratio of 32.44, a P/E/G ratio of 4.22 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 company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.96.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.09. The business had revenue of $874.15 million during the quarter, compared to the consensus estimate of $874.99 million. Extra Space Storage had a return on equity of 6.70% and a net margin of 27.80%.Extra Space Storage's revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.05 EPS. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. As a group, research analysts expect that Extra Space Storage Inc will post 8.32 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.4%. Extra Space Storage's dividend payout ratio is 143.05%.

Insider Buying and Selling at Extra Space Storage

In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the firm's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $150.00, for a total transaction of $495,000.00. Following the sale, the executive vice president owned 37,374 shares of the company's stock, valued at $5,606,100. This trade represents a 8.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.96% of the stock is currently owned by company insiders.

Analyst Ratings Changes

EXR has been the topic of several research analyst reports. Raymond James Financial initiated coverage on Extra Space Storage in a research note on Thursday, July 16th. They issued an "outperform" rating and a $44.00 price objective on the stock. Mizuho increased their price objective on shares of Extra Space Storage from $150.00 to $155.00 and gave the company an "outperform" rating in a research report on Wednesday, May 27th. Barclays upped their price target on shares of Extra Space Storage from $170.00 to $172.00 and gave the company an "overweight" rating in a research note on Friday, July 10th. Truist Financial increased their target price on Extra Space Storage from $140.00 to $148.00 and gave the stock a "hold" rating in a research note on Wednesday, June 17th. Finally, Royal Bank Of Canada upped their price target on shares of Extra Space Storage from $153.00 to $157.00 and gave the company a "sector perform" rating in a research note on Thursday, July 30th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $147.71.

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.

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