5 Best Long-Term Dividend Stocks

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

Dividend Yield as of July 18: 3.53%

Extra Space Storage Inc. (NYSE:EXR) is a Utah-based real estate investment trust that invests in self-storage units.

At the end of Q1 2022, Extra Space Storage Inc. (NYSE:EXR) had nearly $66 million in cash and cash equivalents and $10.5 billion in total assets. The company also reported a 50% increase in its dividend payments, compared with the same period last year. Extra Space Storage Inc. (NYSE:EXR) has been raising its dividends consecutively for the past 11 years. Between 2012 and 2022, the company’s dividend gradually rose from $0.20 per share to $1.50 per share. As of July 18, the stock’s dividend yield stood at 3.53%.

In June, JPMorgan upgraded Extra Space Storage Inc. (NYSE:EXR) to Overweight, with a $193 price target. The firm believed that the company is expected to generate net operating income growth, which is above average for the REIT group in the coming years.

In Q1 2022, 29 hedge funds tracked by Insider Monkey held investments in Extra Space Storage Inc. (NYSE:EXR), up from 27 a quarter earlier. The collective value of these investments stood at $327.7 million. AEW Capital Management was the company’s leading shareholder in Q1.