Achmea Investment Management B.V. Grows Stock Holdings in Extra Space Storage Inc (NYSE:EXR)

Achmea Investment Management B.V. increased its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 40.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,506 shares of the real estate investment trust's stock after purchasing an additional 3,026 shares during the period. Achmea Investment Management B.V.'s holdings in Extra Space Storage were worth $1,560,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Tyche Wealth Partners LLC bought a new stake in shares of Extra Space Storage during the first quarter valued at approximately $249,000. Alpine Bank Wealth Management purchased a new position in Extra Space Storage during the first quarter valued at $86,000. Golden State Wealth Management LLC increased its holdings in Extra Space Storage by 147.0% in the 1st quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust's stock valued at $60,000 after acquiring an additional 241 shares during the last quarter. Berry Wealth Group LP purchased a new stake in Extra Space Storage in the 1st quarter worth $215,000. Finally, Asset Management One Co. Ltd. lifted its stake in Extra Space Storage by 1.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 405,065 shares of the real estate investment trust's stock worth $60,148,000 after purchasing an additional 5,927 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Stock Up 1.1%

Shares of EXR traded up $1.58 during midday trading on Monday, hitting $147.44. 1,393,372 shares of the company's stock traded hands, compared to its average volume of 1,054,113. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $31.29 billion, a price-to-earnings ratio of 34.21, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $184.87. The firm's fifty day moving average is $147.49 and its 200-day moving average is $148.38.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.04. Extra Space Storage had a return on equity of 6.11% and a net margin of 27.84%. The company had revenue of $820.00 million during the quarter, compared to analysts' expectations of $705.12 million. During the same period last year, the business posted $1.96 earnings per share. The firm's revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts anticipate 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 will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, June 16th. This represents a $6.48 dividend on an annualized basis and a yield of 4.40%. Extra Space Storage's payout ratio is 150.35%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. BNP Paribas upgraded Extra Space Storage to a "hold" rating in a research report on Tuesday, June 24th. Barclays decreased their price objective on Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Benchmark cut their target price on shares of Extra Space Storage from $61.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. BNP Paribas Exane initiated coverage on shares of Extra Space Storage in a research note on Tuesday, June 24th. They set a "neutral" rating and a $156.00 price objective for the company. Finally, Evercore ISI raised their target price on shares of Extra Space Storage from $144.00 to $149.00 and gave the stock an "in-line" rating in a report on Thursday, May 1st. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Extra Space Storage has an average rating of "Hold" and a consensus target price of $159.29.

Insider Transactions at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the sale, the chief executive officer directly owned 9,190 shares of the company's stock, valued at $1,355,065.50. The trade was a 44.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.36% of the company's stock.

About Extra Space Storage

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.