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

Allianz Asset Management GmbH lifted its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 168,623 shares of the real estate investment trust’s stock after purchasing an additional 1,143 shares during the period. Allianz Asset Management GmbH’s holdings in Extra Space Storage were worth $25,226,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in Extra Space Storage during the 4th quarter worth about $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Extra Space Storage during the 3rd quarter worth about $33,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Extra Space Storage during the 3rd quarter worth about $42,000. Quent Capital LLC raised its position in shares of Extra Space Storage by 89.0% during the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 154 shares in the last quarter. Finally, Asset Planning Inc acquired a new stake in shares of Extra Space Storage during the 4th quarter worth about $52,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was 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 of the company’s stock, valued at $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EXR. Scotiabank raised Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 target price on the stock in a research report on Friday, January 10th. Truist Financial raised their target price 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. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. Wells Fargo & Company cut 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. Finally, Barclays cut their target price on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Extra Space Storage has a consensus rating of “Hold” and an average price target of $173.09.

Extra Space Storage Trading Up 2.0 %

EXR opened at $159.14 on Tuesday. The firm has a market cap of $33.73 billion, a price-to-earnings ratio of 41.66, a price-to-earnings-growth ratio of 7.76 and a beta of 0.91. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. The business’s 50 day moving average is $151.61 and its two-hundred day moving average is $163.74. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $1.62 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.07%. Extra Space Storage’s dividend payout ratio (DPR) is currently 169.63%.

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.