Korea Investment CORP Sells 14,050 Shares of Extra Space Storage Inc $EXR

Korea Investment CORP trimmed its position in shares of Extra Space Storage Inc (NYSE:EXR) by 10.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 118,531 shares of the real estate investment trust’s stock after selling 14,050 shares during the quarter. Korea Investment CORP owned approximately 0.06% of Extra Space Storage worth $17,476,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Extra Space Storage by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 34,269,652 shares of the real estate investment trust’s stock valued at $5,052,717,000 after buying an additional 300,167 shares during the last quarter. Geode Capital Management LLC increased its position in Extra Space Storage by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 5,795,253 shares of the real estate investment trust’s stock valued at $851,070,000 after acquiring an additional 100,637 shares during the period. JPMorgan Chase & Co. increased its position in Extra Space Storage by 10.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,513,795 shares of the real estate investment trust’s stock valued at $665,514,000 after acquiring an additional 419,240 shares during the period. Invesco Ltd. raised its stake in shares of Extra Space Storage by 18.7% during the first quarter. Invesco Ltd. now owns 3,056,384 shares of the real estate investment trust’s stock valued at $453,843,000 after acquiring an additional 480,642 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Extra Space Storage by 1.7% during the first quarter. Northern Trust Corp now owns 2,922,828 shares of the real estate investment trust’s stock worth $434,011,000 after purchasing an additional 47,779 shares during the period. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Stock Down 0.1%

Extra Space Storage stock opened at $133.17 on Friday. The company has a market capitalization of $28.27 billion, a PE ratio of 29.73, a PEG ratio of 2.56 and a beta of 1.14. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $173.81. The firm’s fifty day moving average is $139.13 and its 200 day moving average is $143.53. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.88.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.02. Extra Space Storage had a net margin of 28.40% and a return on equity of 6.53%. The business had revenue of $858.46 million during the quarter, compared to analysts’ expectations of $736.26 million. During the same period last year, the company posted $2.07 earnings per share. The business’s quarterly revenue was up 4.1% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. As a group, sell-side analysts predict that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Monday, December 15th. Extra Space Storage’s dividend payout ratio is 144.64%.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $141.41, for a total value of $1,060,575.00. Following the completion of the sale, the chief executive officer owned 19,760 shares of the company’s stock, valued at approximately $2,794,261.60. This trade represents a 27.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on EXR shares. Weiss Ratings restated a “hold (c)” rating on shares of Extra Space Storage in a report on Wednesday, October 8th. Citigroup reduced their price target on Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Friday, August 22nd. Wall Street Zen downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Evercore ISI reaffirmed a “cautious” rating on shares of Extra Space Storage in a research note on Monday, November 3rd. Finally, Wells Fargo & Company upgraded Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 target price on the stock in a report on Tuesday, August 26th. Six equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Extra Space Storage presently has an average rating of “Hold” and a consensus target price of $148.36.

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.