Allstate Corp Grows Stock Position in Extra Space Storage Inc $EXR

Key Points

• Allstate Corp increased its stake in Extra Space Storage by 131.6% in the fourth quarter, ending with 30,145 shares valued at about $3.93 million.
• Analyst sentiment is mixed: while firms like Mizuho, BNP Paribas Exane, and Barclays raised targets or ratings, the stock’s overall consensus remains Hold with a $151.86 target price.
• Extra Space Storage reported Q1 earnings of $1.14 per share, well below expectations, though revenue topped estimates; the company also declared a $1.62 quarterly dividend, implying a 4.5% yield.

Allstate Corp grew its position in Extra Space Storage Inc (NYSE:EXR - Free Report) by 131.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,145 shares of the real estate investment trust's stock after acquiring an additional 17,127 shares during the quarter. Allstate Corp's holdings in Extra Space Storage were worth $3,925,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EXR. Avalon Trust Co acquired a new stake in shares of Extra Space Storage in the third quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd acquired a new stake in Extra Space Storage during the third quarter worth $28,000. Rosenberg Matthew Hamilton increased its stake in Extra Space Storage by 442.9% during the fourth quarter. Rosenberg Matthew Hamilton now owns 266 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 217 shares during the last quarter. Creative Financial Designs Inc. ADV increased its stake in Extra Space Storage by 39.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 325 shares of the real estate investment trust's stock worth $42,000 after acquiring an additional 92 shares during the last quarter. Finally, Logan Capital Management Inc. increased its stake in Extra Space Storage by 313.7% during the third quarter. Logan Capital Management Inc. now owns 302 shares of the real estate investment trust's stock worth $43,000 after acquiring an additional 229 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on EXR shares. Mizuho raised their target price on Extra Space Storage from $150.00 to $155.00 and gave the stock an "outperform" rating in a research note on Wednesday. Wall Street Zen cut Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Saturday, April 25th. BNP Paribas Exane raised Extra Space Storage from a "neutral" rating to an "outperform" rating and set a $154.00 price objective for the company in a research note on Wednesday, March 18th. Barclays lifted their price objective on Extra Space Storage from $164.00 to $170.00 and gave the company an "overweight" rating in a research note on Thursday, March 5th. Finally, Royal Bank Of Canada lifted their price objective on Extra Space Storage from $142.00 to $153.00 and gave the company a "sector perform" rating in a research note on Monday, February 23rd. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $151.86.

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 dated Friday, March 13th. The stock was sold at an average price of $142.08, for a total value of $1,065,600.00. Following the completion of the sale, the chief executive officer directly owned 66,495 shares of the company's stock, valued at approximately $9,447,609.60. The trade was a 10.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.96% of the company's stock.

Extra Space Storage Stock Up 0.3%

Shares of NYSE EXR opened at $144.47 on Thursday. The company has a market capitalization of $30.52 billion, a price-to-earnings ratio of 32.39, a price-to-earnings-growth ratio of 4.69 and a beta of 1.22. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37. The business has a 50-day moving average of $138.93 and a two-hundred day moving average of $138.30. Extra Space Storage Inc has a 1 year low of $125.71 and a 1 year high of $155.19.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.01 by ($0.87). Extra Space Storage had a return on equity of 6.65% and a net margin of 27.66%.The business had revenue of $856.03 million for the quarter, compared to analysts' expectations of $851.35 million. During the same period last year, the firm earned $2.00 earnings per share. The firm's quarterly revenue was up 4.4% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. On average, analysts forecast that Extra Space Storage Inc will post 8.23 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, June 15th. Extra Space Storage's payout ratio is presently 145.29%.

Extra Space Storage Company Profile

Extra Space Storage NYSE: EXR is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.

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