Allianz SE Takes $1.42 Million Position in Extra Space Storage Inc. (NYSE:EXR)

Allianz SE purchased a new stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 9,610 shares of the real estate investment trust's stock, valued at approximately $1,415,000.

Several other institutional investors also recently bought and sold shares of the business. Golden State Wealth Management LLC acquired a new stake in Extra Space Storage in the fourth quarter valued at approximately $25,000. Harbour Investments Inc. lifted its stake in Extra Space Storage by 90.9% during the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 80 shares during the last quarter. Continuum Advisory LLC increased its stake in Extra Space Storage by 68.1% during the third quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust's stock valued at $56,000 after purchasing an additional 126 shares during the last quarter. Quent Capital LLC raised its holdings in shares of Extra Space Storage by 89.0% during the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 154 shares during the period. Finally, Asset Planning Inc bought a new position in shares of Extra Space Storage in the 4th quarter worth about $52,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, Director Joseph J. Bonner sold 672 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the sale, the director now directly owns 4,557 shares of the company's stock, valued at $679,448.70. This represents a 12.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the sale, the executive vice president now directly owns 20,158 shares in the company, valued at approximately $3,077,320.28. This trade represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.36% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Royal Bank of Canada cut their price target on Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating on the stock in a report on Thursday, February 27th. Scotiabank dropped their price objective on shares of Extra Space Storage from $167.00 to $165.00 and set a "sector perform" rating on the stock in a report on Wednesday, March 5th. Truist Financial boosted their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a "hold" rating in a research note on Thursday, December 5th. The Goldman Sachs Group restated a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Finally, Wells Fargo & Company lowered their target price on Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating on the stock in a research report on Friday, February 21st. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $171.09.

Extra Space Storage Trading Down 1.1 %

Extra Space Storage stock traded down $1.55 during midday trading on Thursday, reaching $145.92. The stock had a trading volume of 716,317 shares, compared to its average volume of 1,297,690. Extra Space Storage Inc. has a twelve month low of $131.02 and a twelve month high of $184.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The firm has a market cap of $30.93 billion, a price-to-earnings ratio of 38.20, a PEG ratio of 7.76 and a beta of 0.90. The firm's fifty day simple moving average is $152.17 and its two-hundred day simple moving average is $159.40.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.93. The firm had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Equities analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $1.62 per share. The ex-dividend date was Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.44%. Extra Space Storage's dividend payout ratio is 160.40%.

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.