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

Allianz SE purchased a new stake in Extra Space Storage Inc. (NYSE:EXR) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,610 shares of the real estate investment trust’s stock, valued at approximately $1,415,000.

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

Extra Space Storage Price Performance

NYSE:EXR opened at $145.41 on Friday. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87. The stock has a fifty day moving average of $152.33 and a 200 day moving average of $160.01. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a market capitalization of $30.83 billion, a price-to-earnings ratio of 38.07, a P/E/G ratio of 7.76 and a beta of 0.90.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results 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. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm had revenue of $821.90 million for the quarter, compared to analyst estimates of $707.34 million. On average, research analysts expect that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

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 paid a $1.62 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.46%. Extra Space Storage’s dividend payout ratio (DPR) is 160.40%.

Analysts Set New Price Targets

A number of brokerages recently commented on EXR. Truist Financial raised their price target on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Royal Bank of Canada decreased their target price on shares of 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. The Goldman Sachs Group restated a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Barclays reduced their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. Finally, StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Extra Space Storage has a consensus rating of “Hold” and a consensus price target of $171.09.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the transaction, the chief executive officer now directly owns 16,690 shares in the company, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 transaction of $186,245.20. Following the sale, the executive vice president now directly owns 20,158 shares in the company, valued at $3,077,320.28. The trade was a 5.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,392 shares of company stock valued at $1,396,515 over the last three months. Insiders own 1.36% of the company’s stock.

Extra Space Storage Company 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.