5 Best Warehouse and Self-Storage Stocks to Buy

In this post, we will look at the 5 best warehouse and self-storage stocks to buy. If you want to find out about more stocks and the industry, head on over to 11 Best Warehouse and Self-Storage Stocks to Buy.

5. Extra Space Storage Inc. (NYSE:EXR)

Number of Hedge Fund Holders: 27

Extra Space Storage Inc. (NYSE:EXR) is the second largest owner of self-storage spaces and the largest self-storage manager in the United States. It has more than 2,000 stores and more than a million units all over CONUS and in Puerto Rico. The firm is a member of the S&P 500 index and is headquartered in Salt Lake City, Utah.

A remarkable factor about Extra Space Storage Inc. (NYSE:EXR) is the fact that it has grown its Funds From Operations (FFO) by an eye popping 600% since 2011 – the highest in the industry. Its first quarter of 2022 results demonstrated a 35% FFO growth and a 95% occupancy rate, indicating that the firm continues to generate strong cash from all of its properties. At the same time, it grew its rent by 24%, with only meager discounts – indicating a strong pricing power. The firm has returned 20.9% annually through dividends since 2004, and it pays a $1.5 dividend for a 2.8% yield.

Truist raised Extra Space Storage Inc. (NYSE:EXR)’s share price target to $225 from $200 in August 2022, highlighting that recent Q2 earnings were impressive. Insider Monkey studied 895 hedge fund portfolios for this year’s second quarter to discover that 27 had invested in the firm.

Extra Space Storage Inc. (NYSE:EXR)’s largest investor is Stuart J. Zimmer’s Zimmer Partners which owns 987,500 shares that are worth $167 million.