Extra Space Storage Inc $EXR Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH trimmed its position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 12.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,423 shares of the real estate investment trust's stock after selling 27,732 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.09% of Extra Space Storage worth $27,233,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Corient Private Wealth LP increased its stake in shares of Extra Space Storage by 13.2% in the 2nd quarter. Corient Private Wealth LP now owns 14,387 shares of the real estate investment trust's stock valued at $2,090,000 after purchasing an additional 1,675 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Extra Space Storage in the second quarter worth approximately $5,535,000. First Eagle Investment Management LLC raised its stake in Extra Space Storage by 1.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 3,876,997 shares of the real estate investment trust's stock valued at $563,328,000 after purchasing an additional 38,306 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of Extra Space Storage by 13,598.3% during the second quarter. California State Teachers Retirement System now owns 40,299,246 shares of the real estate investment trust's stock worth $5,855,480,000 after buying an additional 40,005,054 shares in the last quarter. Finally, Wedmont Private Capital lifted its stake in shares of Extra Space Storage by 9.4% in the second quarter. Wedmont Private Capital now owns 1,768 shares of the real estate investment trust's stock worth $255,000 after buying an additional 152 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Gwyn McNeal sold 3,300 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $150.00, for a total value of $495,000.00. Following the sale, the executive vice president directly owned 37,374 shares in the company, valued at $5,606,100. This represents a 8.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.96% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

EXR has been the subject of a number of analyst reports. Wall Street Zen upgraded Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Sunday, August 9th. Bank of America upgraded shares of Extra Space Storage from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $147.00 to $156.00 in a report on Tuesday, June 16th. BMO Capital Markets upgraded Extra Space Storage from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $160.00 to $170.00 in a research report on Thursday, August 27th. UBS Group lifted their price target on shares of Extra Space Storage from $158.00 to $163.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Finally, Royal Bank Of Canada boosted their target price on Extra Space Storage from $153.00 to $157.00 and gave the company a "sector perform" rating in a research report on Thursday, July 30th. Seven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $148.93.

Extra Space Storage Stock Performance

Shares of EXR opened at $139.33 on Tuesday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.96. Extra Space Storage Inc has a 52-week low of $125.71 and a 52-week high of $158.88. The stock has a 50 day moving average price of $146.30 and a 200 day moving average price of $143.78. The company has a market capitalization of $29.44 billion, a price-to-earnings ratio of 30.76, a price-to-earnings-growth ratio of 4.00 and a beta of 1.16.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.09. The business had revenue of $874.15 million for the quarter, compared to analyst estimates of $874.99 million. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. The company's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $2.05 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. Research analysts predict that Extra Space Storage Inc will post 8.33 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $6.48 annualized dividend and a yield of 4.7%. Extra Space Storage's dividend payout ratio is 143.05%.

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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