Mirae Asset Global Investments Co. Ltd. Has $5.99 Million Holdings in Extra Space Storage Inc. (NYSE:EXR)

Mirae Asset Global Investments Co. Ltd. lowered its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 1.8% during the fourth quarter, Holdings Channel reports. The fund owned 37,383 shares of the real estate investment trust’s stock after selling 668 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Extra Space Storage were worth $5,994,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. First Horizon Advisors Inc. increased its stake in Extra Space Storage by 1,272.7% in the 1st quarter. First Horizon Advisors Inc. now owns 151 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 140 shares during the period. Zions Bancorporation N.A. grew its position in Extra Space Storage by 241.9% in the third quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 150 shares in the last quarter. Money Concepts Capital Corp bought a new stake in Extra Space Storage in the fourth quarter worth approximately $27,000. EverSource Wealth Advisors LLC grew its position in Extra Space Storage by 162.5% in the third quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 143 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in Extra Space Storage in the third quarter worth approximately $32,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on EXR. The Goldman Sachs Group boosted their target price on shares of Extra Space Storage from $168.00 to $187.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Morgan Stanley raised shares of Extra Space Storage from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $115.00 to $150.00 in a report on Thursday, December 21st. Scotiabank initiated coverage on shares of Extra Space Storage in a report on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 price objective for the company. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Extra Space Storage in a report on Tuesday, January 30th. They set a “hold” rating and a $141.00 price objective for the company. Finally, Barclays initiated coverage on shares of Extra Space Storage in a report on Wednesday, March 27th. They set an “overweight” rating and a $157.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $150.17.

Extra Space Storage Trading Down 1.8 %

Shares of EXR stock opened at $140.69 on Monday. Extra Space Storage Inc. has a 52-week low of $101.19 and a 52-week high of $164.99. The stock has a market cap of $29.77 billion, a price-to-earnings ratio of 28.48, a P/E/G ratio of 3.46 and a beta of 0.74. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a fifty day moving average of $143.28 and a 200-day moving average of $137.24.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). Extra Space Storage had a net margin of 31.81% and a return on equity of 8.34%. The business had revenue of $797.77 million during the quarter, compared to analyst estimates of $778.05 million. During the same quarter in the prior year, the company posted $2.09 EPS. The company’s quarterly revenue was up 57.4% compared to the same quarter last year. On average, equities research analysts forecast that Extra Space Storage Inc. will post 8.05 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date of this dividend was Thursday, March 14th. Extra Space Storage’s dividend payout ratio is 131.17%.

Insider Buying and Selling

In related news, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the completion of the sale, the chief marketing officer now owns 94,126 shares in the company, valued at approximately $13,785,693.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the completion of the sale, the chief marketing officer now owns 94,126 shares in the company, valued at approximately $13,785,693.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the sale, the executive vice president now owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The disclosure for this sale can be found here. Insiders sold 3,532 shares of company stock worth $514,819 in the last quarter. 1.55% of the stock is owned by corporate insiders.

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.