Mirae Asset Global Investments Co. Ltd. Boosts Stock Position in Extra Space Storage Inc $EXR

Key Points

• Mirae Asset Global Investments increased its stake in Extra Space Storage (EXR) by 21.5% in Q4, adding 7,780 shares to hold 43,969 shares worth about $5.73 million, while institutional investors own roughly 99.11% of the stock.
• EXR beat quarterly expectations with $2.08 EPS and $857.5M revenue and set FY2026 guidance of $8.05–$8.35 EPS (analysts project ~8.24 EPS for the year).
• The company pays a $1.62 quarterly dividend (annualized $6.48) for a 4.4% yield

Mirae Asset Global Investments Co. Ltd. grew its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 21.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,969 shares of the real estate investment trust's stock after purchasing an additional 7,780 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Extra Space Storage were worth $5,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Cibc World Market Inc. grew its position in shares of Extra Space Storage by 19.4% in the third quarter. Cibc World Market Inc. now owns 190,863 shares of the real estate investment trust's stock valued at $26,900,000 after purchasing an additional 30,983 shares in the last quarter. Principal Financial Group Inc. grew its position in Extra Space Storage by 6.4% in the third quarter. Principal Financial Group Inc. now owns 6,715,901 shares of the real estate investment trust's stock worth $946,540,000 after acquiring an additional 406,146 shares during the period. Thrivent Financial for Lutherans grew its position in Extra Space Storage by 38.2% in the third quarter. Thrivent Financial for Lutherans now owns 589,271 shares of the real estate investment trust's stock worth $83,052,000 after acquiring an additional 162,773 shares during the period. Metis Global Partners LLC grew its position in Extra Space Storage by 28.4% in the third quarter. Metis Global Partners LLC now owns 54,950 shares of the real estate investment trust's stock worth $7,745,000 after acquiring an additional 12,145 shares during the period. Finally, Resona Asset Management Co. Ltd. grew its position in Extra Space Storage by 6.6% in the third quarter. Resona Asset Management Co. Ltd. now owns 127,235 shares of the real estate investment trust's stock worth $17,982,000 after acquiring an additional 7,831 shares during the period. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on EXR. Wells Fargo & Company decreased their price target on Extra Space Storage from $150.00 to $148.00 and set an "overweight" rating on the stock in a research note on Thursday. Bank of America cut Extra Space Storage from a "neutral" rating to an "underperform" rating and set a $143.00 price target on the stock. in a research note on Thursday, February 5th. Wall Street Zen upgraded Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Saturday, April 4th. Scotiabank upped their price target on Extra Space Storage from $145.00 to $156.00 and gave the stock a "sector perform" rating in a research note on Monday, March 2nd. Finally, JPMorgan Chase & Co. upped their price target on Extra Space Storage from $142.00 to $144.00 and gave the stock a "neutral" rating in a research note on Monday, March 23rd. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $143.67.

Extra Space Storage Stock Up 1.0%

Shares of NYSE EXR opened at $146.88 on Tuesday. The stock has a market cap of $31.02 billion, a P/E ratio of 31.93, a PEG ratio of 2.92 and a beta of 1.26. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.92. Extra Space Storage Inc has a 12-month low of $125.71 and a 12-month high of $155.19. The business's fifty day simple moving average is $141.01 and its 200-day simple moving average is $138.53.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.05. The business had revenue of $857.47 million for the quarter, compared to analysts' expectations of $732.92 million. Extra Space Storage had a return on equity of 6.79% and a net margin of 28.84%.The company's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the firm earned $2.03 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. As a group, equities analysts predict that Extra Space Storage Inc will post 8.24 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Monday, March 16th. Extra Space Storage's dividend payout ratio (DPR) is presently 140.87%.

Insider Buying and Selling

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $142.08, for a total value of $1,065,600.00. Following the transaction, the chief executive officer owned 66,495 shares of the company's stock, valued at $9,447,609.60. This represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.96% of the stock is owned by company insiders.

Extra Space Storage Profile

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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