9,610 Shares in Extra Space Storage Inc. (NYSE:EXR) Purchased by Allianz SE

Allianz SE purchased a new stake in shares of Extra Space Storage Inc. (NYSE:EXR) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 9,610 shares of the real estate investment trust’s stock, valued at approximately $1,415,000.

Several other hedge funds have also bought and sold shares of EXR. Norges Bank purchased a new position in shares of Extra Space Storage during the fourth quarter valued at approximately $938,647,000. Manning & Napier Advisors LLC increased its position in Extra Space Storage by 1,127.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust’s stock valued at $116,985,000 after buying an additional 718,266 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC increased its position in Extra Space Storage by 91.2% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,089,753 shares of the real estate investment trust’s stock valued at $163,027,000 after buying an additional 519,934 shares in the last quarter. Amundi raised its stake in Extra Space Storage by 82.0% during the fourth quarter. Amundi now owns 828,644 shares of the real estate investment trust’s stock valued at $122,649,000 after buying an additional 373,274 shares during the last quarter. Finally, Prudential Financial Inc. boosted its holdings in Extra Space Storage by 28.5% in the fourth quarter. Prudential Financial Inc. now owns 1,442,852 shares of the real estate investment trust’s stock worth $215,851,000 after acquiring an additional 320,083 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Performance

Shares of EXR opened at $145.41 on Friday. The firm has a market capitalization of $30.83 billion, a P/E ratio of 38.07, a PEG ratio of 7.76 and a beta of 0.90. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. Extra Space Storage Inc. has a one year low of $131.02 and a one year high of $184.87. The business has a fifty day moving average of $152.33 and a 200 day moving average of $160.01.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.93. The business had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. As a group, sell-side analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s payout ratio is 160.40%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EXR. Wells Fargo & Company reduced their price target on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. Royal Bank of Canada reduced their price objective on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Truist Financial upped their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Barclays reduced their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. Finally, StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $171.09.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the completion of the sale, the chief executive officer now owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the transaction, the executive vice president now directly owns 20,158 shares in the company, valued at approximately $3,077,320.28. The trade was a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,392 shares of company stock worth $1,396,515 in the last three months. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Profile

Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2023, the Company owned and/or operated 3,714 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.6 million units and approximately 283.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.