Extra Space Storage Inc (NYSE:EXR) Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH increased its holdings in shares of Extra Space Storage Inc (NYSE:EXR) by 34.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 226,235 shares of the real estate investment trust’s stock after purchasing an additional 57,612 shares during the period. Allianz Asset Management GmbH’s holdings in Extra Space Storage were worth $33,594,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of EXR. Quarry LP raised its holdings in Extra Space Storage by 156.1% during the fourth quarter. Quarry LP now owns 356 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 217 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in shares of Extra Space Storage by 147.0% in the first quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 241 shares during the period. Parvin Asset Management LLC acquired a new stake in shares of Extra Space Storage in the fourth quarter valued at about $62,000. Wayfinding Financial LLC acquired a new stake in shares of Extra Space Storage in the first quarter valued at approximately $76,000. Finally, Global X Japan Co. Ltd. grew its position in shares of Extra Space Storage by 24.8% in the first quarter. Global X Japan Co. Ltd. now owns 558 shares of the real estate investment trust’s stock valued at $83,000 after purchasing an additional 111 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analyst Upgrades and Downgrades

EXR has been the topic of several research reports. Wells Fargo & Company lowered their price target on shares of Extra Space Storage from $165.00 to $160.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Bank of America lifted their price target on shares of Extra Space Storage from $155.00 to $161.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. Scotiabank boosted their price objective on shares of Extra Space Storage from $149.00 to $166.00 and gave the stock a “sector outperform” rating in a research note on Monday, May 12th. JPMorgan Chase & Co. boosted their price objective on shares of Extra Space Storage from $160.00 to $162.00 and gave the stock a “neutral” rating in a research note on Friday, June 13th. Finally, BNP Paribas raised shares of Extra Space Storage to a “hold” rating in a report on Tuesday, June 24th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Extra Space Storage has a consensus rating of “Hold” and a consensus price target of $157.69.

Extra Space Storage Trading Down 0.1%

NYSE EXR opened at $151.22 on Thursday. Extra Space Storage Inc has a one year low of $121.03 and a one year high of $184.87. The company has a 50-day simple moving average of $149.09 and a 200-day simple moving average of $148.40. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a market capitalization of $32.09 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 3.67 and a beta of 1.10.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.04. Extra Space Storage had a net margin of 27.84% and a return on equity of 6.11%. The business had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $705.12 million. During the same quarter last year, the company earned $1.96 EPS. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities analysts forecast that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $1.62 per share. The ex-dividend date was Monday, June 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.29%. Extra Space Storage’s dividend payout ratio (DPR) is 150.35%.

Insider Activity at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $150.35, for a total value of $1,127,625.00. Following the transaction, the chief executive officer owned 27,260 shares of the company’s stock, valued at $4,098,541. The trade was a 21.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.96% 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.