Korea Investment CORP Makes New $13.32 Million Investment in Extra Space Storage Inc $EXR

Korea Investment CORP purchased a new stake in Extra Space Storage Inc (NYSE:EXR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 91,653 shares of the real estate investment trust’s stock, valued at approximately $13,317,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ieq Capital LLC acquired a new stake in Extra Space Storage during the 2nd quarter valued at approximately $290,000. Callan Family Office LLC acquired a new stake in shares of Extra Space Storage during the second quarter worth $741,000. Paralel Advisors LLC bought a new position in Extra Space Storage during the second quarter worth $1,783,000. Allworth Financial LP acquired a new position in Extra Space Storage in the second quarter valued at $394,000. Finally, B. Metzler seel. Sohn & Co. AG acquired a new stake in Extra Space Storage during the 2nd quarter worth about $708,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EXR has been the subject of several recent analyst reports. Bank of America raised Extra Space Storage from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $147.00 to $156.00 in a research note on Tuesday, June 16th. Mizuho raised their price objective on Extra Space Storage from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Barclays lifted their price target on Extra Space Storage from $170.00 to $172.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Truist Financial raised their price target on shares of Extra Space Storage from $140.00 to $148.00 and gave the company a “hold” rating in a research report on Wednesday, June 17th. Finally, Wells Fargo & Company increased their price objective on shares of Extra Space Storage from $154.00 to $158.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Six research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $147.71.

Extra Space Storage Stock Performance

Shares of EXR opened at $146.97 on Monday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.96. Extra Space Storage Inc has a 12-month low of $125.71 and a 12-month high of $158.88. The company has a market cap of $31.05 billion, a PE ratio of 32.44, a price-to-earnings-growth ratio of 4.22 and a beta of 1.18. The stock has a 50-day moving average price of $147.31 and a 200-day moving average price of $143.82.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.09. The business had revenue of $874.15 million during the quarter, compared to analyst estimates of $874.99 million. Extra Space Storage had a return on equity of 6.70% and a net margin of 27.80%.Extra Space Storage’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.05 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. As a group, equities analysts forecast that Extra Space Storage Inc will post 8.32 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 15th. This represents a $6.48 annualized dividend and a yield of 4.4%. Extra Space Storage’s dividend payout ratio is currently 143.05%.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 3,300 shares of Extra Space Storage stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $150.00, for a total value of $495,000.00. Following the transaction, the executive vice president directly owned 37,374 shares of the company’s stock, valued at $5,606,100. The trade was a 8.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.96% of the stock is currently owned by insiders.

Extra Space Storage Profile

Extra Space Storage (NYSE: EXR) is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.