12 Best Self Storage and Apartment Stocks to Invest In

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

Number of Hedge Fund Holders: 28

Extra Space Storage Inc. (NYSE:EXR) is a real estate investment trust (REIT) that owns and operates self-storage facilities in the US. The company has a broad portfolio of conveniently located and secure storage units, including RV storage, boat storage, and business storage. As the largest operator of self-storage facilities in the country, the company owns or operates more than 3,800 self-storage properties and approximately 296 million square feet of rentable storage space. Extra Space Storage Inc. (NYSE:EXR) is one of the best self-storage stocks to buy.

The company is strategically focused on long-term growth and expansion through acquisitions. Extra Space Storage Inc. (NYSE:EXR) completed the merger with Life Storage in July 2023. This transaction created the largest operator of self-storage facilities in the United States. Extra Space Storage Inc. (NYSE:EXR) expects to unlock a minimum of $100 million in annual synergies from this transaction and deliver strong financial performance in the coming years. Additionally, the company continues to expand its self-storage store network. In the nine months ended September 30, 2024, Extra Space Storage Inc. (NYSE:EXR) added 237 stores to its third-party management platforms. This resulted in a net addition of 124 stores.

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