Allianz Asset Management GmbH Decreases Stake in Extra Space Storage Inc $EXR

Allianz Asset Management GmbH lessened its holdings in shares of Extra Space Storage Inc (NYSE:EXR) by 34.6% in the third quarter, Holdings Channel reports. The firm owned 138,251 shares of the real estate investment trust’s stock after selling 73,069 shares during the period. Allianz Asset Management GmbH’s holdings in Extra Space Storage were worth $19,485,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. NewEdge Advisors LLC grew its stake in Extra Space Storage by 9.3% during the first quarter. NewEdge Advisors LLC now owns 3,409 shares of the real estate investment trust’s stock worth $506,000 after buying an additional 291 shares during the period. Empowered Funds LLC boosted its position in Extra Space Storage by 15.5% during the 1st quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust’s stock worth $729,000 after purchasing an additional 661 shares during the period. Sivia Capital Partners LLC purchased a new stake in Extra Space Storage during the 2nd quarter worth $457,000. Janney Montgomery Scott LLC increased its holdings in Extra Space Storage by 6.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 6,360 shares of the real estate investment trust’s stock valued at $938,000 after purchasing an additional 408 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in Extra Space Storage in the second quarter valued at about $75,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Price Performance

EXR opened at $140.02 on Friday. The company has a market capitalization of $29.72 billion, a P/E ratio of 31.25, a PEG ratio of 2.69 and a beta of 1.27. The company has a 50-day moving average of $135.63 and a 200-day moving average of $138.95. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.24 and a current ratio of 0.24. Extra Space Storage Inc has a 1-year low of $121.03 and a 1-year high of $162.77.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were paid a dividend of $1.62 per share. The ex-dividend date was Monday, December 15th. This represents a $6.48 annualized dividend and a yield of 4.6%. Extra Space Storage’s dividend payout ratio is presently 144.64%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EXR. Barclays reaffirmed an “overweight” rating and issued a $164.00 target price on shares of Extra Space Storage in a research report on Tuesday, January 13th. Evercore restated a “cautious” rating on shares of Extra Space Storage in a report on Monday, November 3rd. UBS Group dropped their price objective on shares of Extra Space Storage from $156.00 to $148.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Bank of America cut shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and set a $143.00 target price on the stock. in a research report on Thursday. Finally, Morgan Stanley dropped their price target on shares of Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Friday, December 5th. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $144.67.

Extra Space Storage 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.