Allianz SE Has $4.22 Million Stock Position in Extra Space Storage Inc $EXR
Allianz SE increased its holdings in Extra Space Storage Inc by 217.5% in Q2, owning 28,611 shares worth $4.22 million. Other institutional investors also adjusted their positions. Extra Space Storage reported Q3 earnings of $2.08 per share, beating estimates, with revenue of $858.46 million. The company announced a quarterly dividend of $1.62 per share. Analysts predict an EPS of 8.1 for the current year. CEO Joseph Margolis sold 7,500 shares, reducing his ownership by 27.51%. Analysts have adjusted price targets for the stock.
Allianz SE increased its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 217.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,611 shares of the real estate investment trust's stock after acquiring an additional 19,601 shares during the period. Allianz SE's holdings in Extra Space Storage were worth $4,218,000 at the end of the most recent reporting period.
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Other institutional investors have also recently bought and sold shares of the company. Mattson Financial Services LLC grew its holdings in shares of Extra Space Storage by 17.7% during the 1st quarter. Mattson Financial Services LLC now owns 21,231 shares of the real estate investment trust's stock valued at $3,153,000 after acquiring an additional 3,187 shares in the last quarter. IFP Advisors Inc increased its position in Extra Space Storage by 1,376.5% in the 1st quarter. IFP Advisors Inc now owns 1,698 shares of the real estate investment trust's stock worth $252,000 after purchasing an additional 1,583 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Extra Space Storage by 6.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 6,360 shares of the real estate investment trust's stock worth $938,000 after purchasing an additional 408 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Extra Space Storage during the 1st quarter worth about $1,472,000. Finally, waypoint wealth counsel acquired a new stake in shares of Extra Space Storage during the 2nd quarter valued at about $359,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.
Extra Space Storage Price Performance
NYSE EXR opened at $131.93 on Friday. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $175.57. The company has a fifty day simple moving average of $142.05 and a 200 day simple moving average of $144.74. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.88. The company has a market cap of $28.00 billion, a P/E ratio of 29.45, a P/E/G ratio of 2.56 and a beta of 1.14.
Extra Space Storage (NYSE:EXR - Get Free Report) last released its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share for the quarter, topping analysts' consensus estimates of $2.06 by $0.02. The firm had revenue of $858.46 million during the quarter, compared to analyst estimates of $736.26 million. Extra Space Storage had a net margin of 28.40% and a return on equity of 6.53%. The business's revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.07 EPS. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. On average, sell-side analysts predict that Extra Space Storage Inc will post 8.1 EPS for the current year.
Extra Space Storage Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a dividend of $1.62 per share. The ex-dividend date was Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.9%. Extra Space Storage's payout ratio is 144.64%.
Insider Buying and Selling at Extra Space Storage
In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $141.41, for a total value of $1,060,575.00. Following the sale, the chief executive officer owned 19,760 shares in the company, valued at approximately $2,794,261.60. This trade represents a 27.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.36% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. Scotiabank dropped their price objective on Extra Space Storage from $166.00 to $162.00 and set a "sector outperform" rating on the stock in a report on Thursday, August 28th. Royal Bank Of Canada decreased their target price on shares of Extra Space Storage from $148.00 to $146.00 and set a "sector perform" rating for the company in a research report on Friday, November 7th. Citigroup reduced their price objective on shares of Extra Space Storage from $165.00 to $150.00 and set a "neutral" rating for the company in a research note on Friday, August 22nd. Wall Street Zen cut shares of Extra Space Storage from a "hold" rating to a "sell" rating in a report on Saturday, November 1st. Finally, Evercore ISI restated a "cautious" rating on shares of Extra Space Storage in a report on Monday, November 3rd. Six investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $148.36.
Read Our Latest Analysis on EXR
Extra Space Storage Profile
(Free Report)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.
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