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

Allianz Asset Management GmbH grew its position in Extra Space Storage Inc (NYSE:EXR - Free Report) by 34.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 226,235 shares of the real estate investment trust's stock after acquiring an additional 57,612 shares during the period. Allianz Asset Management GmbH owned about 0.11% of Extra Space Storage worth $33,594,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of EXR. Commonwealth Equity Services LLC boosted its stake in Extra Space Storage by 2.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 21,062 shares of the real estate investment trust's stock worth $3,151,000 after acquiring an additional 425 shares in the last quarter. Corient Private Wealth LLC boosted its position in shares of Extra Space Storage by 4.2% in the fourth quarter. Corient Private Wealth LLC now owns 10,382 shares of the real estate investment trust's stock valued at $1,553,000 after acquiring an additional 420 shares during the period. LPL Financial LLC lifted its position in Extra Space Storage by 6.0% during the fourth quarter. LPL Financial LLC now owns 110,870 shares of the real estate investment trust's stock valued at $16,586,000 after purchasing an additional 6,305 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in Extra Space Storage by 5.7% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,370 shares of the real estate investment trust's stock valued at $803,000 after purchasing an additional 290 shares during the last quarter. Finally, Korea Investment CORP raised its stake in shares of Extra Space Storage by 4.4% during the fourth quarter. Korea Investment CORP now owns 121,796 shares of the real estate investment trust's stock worth $18,221,000 after acquiring an additional 5,098 shares in the last quarter. Institutional investors own 99.11% of the company's stock.

Extra Space Storage Stock Performance

NYSE EXR traded down $0.35 during trading hours on Thursday, reaching $150.63. The stock had a trading volume of 889,364 shares, compared to its average volume of 1,073,991. Extra Space Storage Inc has a 52-week low of $121.03 and a 52-week high of $184.87. The stock has a market cap of $31.96 billion, a P/E ratio of 34.95, a price-to-earnings-growth ratio of 3.66 and a beta of 1.10. The stock has a fifty day moving average of $149.14 and a 200 day moving average of $148.41. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.33 and a current ratio of 0.33.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, beating the consensus estimate of $1.96 by $0.04. The firm had revenue of $820.00 million during the quarter, compared to the consensus estimate of $705.12 million. Extra Space Storage had a return on equity of 6.11% and a net margin of 27.84%. The firm's revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.96 EPS. Sell-side analysts predict 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 announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date was Monday, June 16th. Extra Space Storage's payout ratio is currently 150.35%.

Analyst Ratings Changes

A number of research analysts have issued reports on EXR shares. JPMorgan Chase & Co. boosted their price objective on shares of Extra Space Storage from $160.00 to $162.00 and gave the company a "neutral" rating in a research report on Friday, June 13th. BNP Paribas Exane assumed coverage on shares of Extra Space Storage in a research note on Tuesday, June 24th. They issued a "neutral" rating and a $156.00 price objective on the stock. Bank of America increased their target price on shares of Extra Space Storage from $155.00 to $161.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Mizuho increased their price objective on shares of Extra Space Storage from $141.00 to $153.00 and gave the company an "outperform" rating in a report on Wednesday, May 28th. Finally, Royal Bank Of Canada cut their target price on shares of Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating for the company in a report on Thursday, May 1st. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $157.69.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the sale, the chief executive officer directly owned 27,260 shares in the company, valued at approximately $4,098,541. The trade was a 21.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.96% of the stock is owned by corporate insiders.

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.