Mirae Asset Global Investments Co. Ltd. Increases Stake in Extra Space Storage Inc. (NYSE:EXR)

Mirae Asset Global Investments Co. Ltd. raised its position in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 18.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,052 shares of the real estate investment trust's stock after acquiring an additional 5,199 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Extra Space Storage were worth $5,858,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Extra Space Storage by 8.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,636 shares of the real estate investment trust's stock valued at $1,122,000 after acquiring an additional 583 shares in the last quarter. LVW Advisors LLC raised its holdings in shares of Extra Space Storage by 24.1% in the first quarter. LVW Advisors LLC now owns 2,119 shares of the real estate investment trust's stock worth $311,000 after buying an additional 412 shares during the last quarter. Azzad Asset Management Inc. ADV lifted its stake in shares of Extra Space Storage by 4.1% during the first quarter. Azzad Asset Management Inc. ADV now owns 10,837 shares of the real estate investment trust's stock worth $1,593,000 after buying an additional 427 shares during the period. State of Alaska Department of Revenue grew its holdings in shares of Extra Space Storage by 0.6% during the first quarter. State of Alaska Department of Revenue now owns 123,170 shares of the real estate investment trust's stock valued at $18,104,000 after buying an additional 750 shares during the last quarter. Finally, Norden Group LLC acquired a new position in shares of Extra Space Storage in the 1st quarter valued at $1,947,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EXR has been the subject of a number of research reports. Raymond James boosted their price target on Extra Space Storage from $160.00 to $175.00 and gave the company an "outperform" rating in a research note on Tuesday, July 23rd. Truist Financial raised their price target on shares of Extra Space Storage from $152.00 to $167.00 and gave the stock a "hold" rating in a research report on Friday, August 16th. Scotiabank upped their price objective on shares of Extra Space Storage from $159.00 to $169.00 and gave the company a "sector underperform" rating in a report on Thursday, August 22nd. KeyCorp raised their target price on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an "overweight" rating in a report on Monday, September 9th. Finally, Bank of America lowered shares of Extra Space Storage from a "neutral" rating to an "underperform" rating and lowered their price target for the company from $172.00 to $155.00 in a report on Monday, August 5th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Extra Space Storage has a consensus rating of "Hold" and a consensus target price of $171.07.

Extra Space Storage Price Performance

Extra Space Storage stock traded down $1.84 during trading on Tuesday, reaching $165.62. The company had a trading volume of 1,311,467 shares, compared to its average volume of 1,036,606. The firm has a market capitalization of $35.07 billion, a PE ratio of 37.30, a price-to-earnings-growth ratio of 6.25 and a beta of 0.86. The firm's 50-day simple moving average is $174.53 and its 200 day simple moving average is $159.97. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.20 and a current ratio of 0.20. Extra Space Storage Inc. has a 1-year low of $101.19 and a 1-year high of $184.87.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $1.62 per share. The ex-dividend date was Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.91%. Extra Space Storage's dividend payout ratio is currently 144.32%.

Insider Buying and Selling

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the sale, the chief executive officer now directly owns 24,190 shares of the company's stock, valued at $4,318,398.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the transaction, the chief executive officer now directly owns 24,190 shares in the company, valued at approximately $4,318,398.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP William N. Springer sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total value of $350,660.00. Following the completion of the sale, the executive vice president now directly owns 11,919 shares of the company's stock, valued at approximately $2,089,758.27. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,970 shares of company stock worth $3,367,307 in the last 90 days. Insiders own 1.36% of the company's stock.

About Extra Space Storage

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.