Korea Investment CORP Has $18.22 Million Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Korea Investment CORP raised its stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. 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 0.06% of Extra Space Storage worth $18,221,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Extra Space Storage by 5.7% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,370 shares of the real estate investment trust's stock valued at $803,000 after acquiring an additional 290 shares in the last quarter. Prestige Wealth Management Group LLC lifted its stake in shares of Extra Space Storage by 10.3% during the fourth quarter. Prestige Wealth Management Group LLC now owns 3,020 shares of the real estate investment trust's stock worth $452,000 after purchasing an additional 283 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Extra Space Storage by 28.5% in the fourth quarter. Prudential Financial Inc. now owns 1,442,852 shares of the real estate investment trust's stock worth $215,851,000 after buying an additional 320,083 shares during the period. LPL Financial LLC grew its stake in shares of Extra Space Storage by 6.0% in the fourth quarter. LPL Financial LLC now owns 110,870 shares of the real estate investment trust's stock valued at $16,586,000 after buying an additional 6,305 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Extra Space Storage during the 4th quarter valued at about $10,753,000. Institutional investors and hedge funds own 99.11% of the company's stock.

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Insider Buying and Selling at Extra Space Storage

In related news, Director Joseph J. Bonner sold 672 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total transaction of $100,195.20. Following the completion of the sale, the director now directly owns 4,557 shares of the company's stock, valued at $679,448.70. This represents 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 available at the SEC website. Also, EVP William N. Springer sold 1,220 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the sale, the executive vice president now owns 20,158 shares of the company's stock, valued at $3,077,320.28. The trade was a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating for the company in a research note on Friday, February 21st. Royal Bank of Canada lowered their price objective on Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating for the company in a research note on Thursday, February 27th. Truist Financial upped their price target on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a "hold" rating in a report on Thursday, December 5th. Scotiabank decreased 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, Barclays reduced their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 12th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Extra Space Storage presently has an average rating of "Hold" and an average target price of $171.09.

Extra Space Storage Stock Performance

Shares of EXR traded down $1.14 during midday trading on Thursday, hitting $146.33. 565,845 shares of the stock traded hands, compared to its average volume of 1,295,730. Extra Space Storage Inc. has a 1-year low of $131.02 and a 1-year high of $184.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a market capitalization of $31.02 billion, a PE ratio of 38.31, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. The business's 50 day moving average price is $152.17 and its two-hundred day moving average price is $159.40.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share 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 analysts' expectations of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. Equities research analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage's dividend payout ratio (DPR) is presently 160.40%.

Extra Space Storage 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.