Extra Space Storage Inc $EXR Shares Newly Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Extra Space Storage Inc (NYSE:EXR) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 57,587 shares of the real estate investment trust’s stock, valued at approximately $7,573,000.

Other hedge funds also recently made changes to their positions in the company. Raiffeisen Bank International AG raised its position in shares of Extra Space Storage by 82.4% in the second quarter. Raiffeisen Bank International AG now owns 186 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 84 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Extra Space Storage in the first quarter valued at approximately $30,000. Security National Bank of SO Dak acquired a new stake in Extra Space Storage during the second quarter worth approximately $34,000. CoreCap Advisors LLC grew its position in Extra Space Storage by 975.0% during the second quarter. CoreCap Advisors LLC now owns 258 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 234 shares in the last quarter. Finally, Ancora Advisors LLC acquired a new stake in Extra Space Storage during the second quarter worth approximately $43,000. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Stock Up 3.3%

Shares of EXR opened at $161.32 on Thursday. Extra Space Storage Inc has a one year low of $125.71 and a one year high of $162.28. The company has a market cap of $33.67 billion, a P/E ratio of 18.51, a P/E/G ratio of 4.32 and a beta of 1.07. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.25 and a quick ratio of 1.56. The firm has a 50 day simple moving average of $139.25 and a two-hundred day simple moving average of $142.56.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, October 27th. The real estate investment trust reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.93). Extra Space Storage had a net margin of 29.90% and a return on equity of 7.36%. The business had revenue of $889.79 million during the quarter, compared to analyst estimates of $886.61 million. During the same period in the prior year, the business posted $2.08 EPS. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. Research analysts forecast that Extra Space Storage Inc will post 8.46 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Tuesday, September 15th. Extra Space Storage’s dividend payout ratio is currently 131.71%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Truist Financial raised Extra Space Storage from a “hold” rating to a “buy” rating and dropped their price objective for the company from $148.00 to $147.00 in a report on Thursday, October 1st. UBS Group increased their target price on Extra Space Storage from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Wednesday. BNP Paribas Exane raised their price target on Extra Space Storage from $156.00 to $163.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. Mizuho dropped their price target on Extra Space Storage from $155.00 to $152.00 and set an “outperform” rating for the company in a research note on Wednesday, September 2nd. Finally, Evercore upped their price objective on shares of Extra Space Storage from $142.00 to $146.00 in a research report on Wednesday, October 28th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $156.75.

Extra Space Storage Company Profile

Extra Space Storage Inc is a real estate investment trust that owns, operates, manages and develops self-storage properties in the United States. The company provides storage units for residential, business and vehicle-storage customers, with facilities offering a range of unit sizes and access options.

In addition to operating properties under the Extra Space Storage brand, the company provides third-party property management, acquisition and development services for self-storage owners.