Extra Space Storage Inc. (NYSE:EXR) Shares Bought by Korea Investment CORP

Korea Investment CORP grew its holdings in Extra Space Storage Inc. (NYSE:EXR) by 4.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 121,796 shares of the real estate investment trust’s stock after purchasing an additional 5,098 shares during the period. Korea Investment CORP owned approximately 0.06% of Extra Space Storage worth $18,221,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of EXR. Golden State Wealth Management LLC purchased a new position in Extra Space Storage during the fourth quarter worth about $25,000. Harbour Investments Inc. boosted its position in shares of 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 worth $25,000 after purchasing an additional 80 shares during the period. Quent Capital LLC increased its holdings in Extra Space Storage by 89.0% in the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 154 shares during the last quarter. Asset Planning Inc purchased a new stake in Extra Space Storage in the fourth quarter valued at approximately $52,000. Finally, Kestra Investment Management LLC acquired a new position in Extra Space Storage during the fourth quarter worth $54,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on EXR. Wells Fargo & Company cut their price objective on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Friday, March 7th. Royal Bank of Canada reduced their price target on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Scotiabank dropped their price objective on shares of Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating for the company in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $171.09.

Insider Activity

In other news, Director Joseph J. Bonner sold 672 shares of Extra Space Storage stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $149.10, for a total transaction of $100,195.20. Following the sale, the director now owns 4,557 shares in the company, valued at approximately $679,448.70. The trade was a 12.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the sale, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,392 shares of company stock worth $1,396,515. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

NYSE:EXR opened at $145.41 on Friday. Extra Space Storage Inc. has a 12 month low of $131.02 and a 12 month high of $184.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The firm has a market capitalization of $30.83 billion, a PE ratio of 38.07, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. The business’s fifty day moving average price is $152.33 and its 200 day moving average price is $160.01.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.93. The business had revenue of $821.90 million for the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.46%. Extra Space Storage’s dividend payout ratio is presently 160.40%.

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.