Allianz Asset Management GmbH raised its position in shares of Extra Space Storage, Inc. (NYSE:EXR) by 50.3% in the third quarter, HoldingsChannel.com reports. The firm owned 234,119 shares of the real estate investment trust’s stock after buying an additional 78,381 shares during the quarter. Allianz Asset Management GmbH’s holdings in Extra Space Storage were worth $20,284,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in EXR. First Hawaiian Bank bought a new stake in shares of Extra Space Storage during the 3rd quarter valued at about $120,000. Assetmark Inc. grew its stake in shares of Extra Space Storage by 7,612.5% during the 2nd quarter. Assetmark Inc. now owns 1,234 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 1,218 shares during the period. Atlas Capital Advisors LLC bought a new stake in shares of Extra Space Storage during the 3rd quarter valued at about $125,000. Meeder Asset Management Inc. bought a new stake in shares of Extra Space Storage during the 3rd quarter valued at about $137,000. Finally, Piedmont Investment Advisors LLC bought a new stake in shares of Extra Space Storage during the 2nd quarter valued at about $143,000.
EXR stock opened at $99.82 on Friday. Extra Space Storage, Inc. has a twelve month low of $77.53 and a twelve month high of $101.96. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.53 and a current ratio of 0.53. The stock has a market cap of $12.26 billion, a PE ratio of 22.79, a P/E/G ratio of 3.81 and a beta of 0.13.
Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.19 by ($0.17). Extra Space Storage had a net margin of 47.29% and a return on equity of 20.11%. The company had revenue of $266.70 million for the quarter, compared to analysts’ expectations of $266.81 million. During the same period in the previous year, the firm earned $1.13 earnings per share. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities analysts forecast that Extra Space Storage, Inc. will post 4.64 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be given a dividend of $0.86 per share. The ex-dividend date is Thursday, December 13th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.45%. Extra Space Storage’s payout ratio is currently 78.54%.
In other news, EVP James Overturf sold 880 shares of Extra Space Storage stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $86.24, for a total transaction of $75,891.20. Following the transaction, the executive vice president now directly owns 72,097 shares of the company’s stock, valued at approximately $6,217,645.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 2,640 shares of company stock worth $234,256. Insiders own 3.52% of the company’s stock.
EXR has been the subject of a number of recent research reports. ValuEngine upgraded Extra Space Storage from a “hold” rating to a “buy” rating in a research note on Tuesday, October 30th. Citigroup cut their price target on Extra Space Storage from $103.00 to $92.00 and set a “hold” rating for the company in a research note on Friday, October 5th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Extra Space Storage presently has a consensus rating of “Hold” and an average target price of $96.40.
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About Extra Space Storage
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 September 30, 2018, the Company owned and/or operated 1,606 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.1 million units and approximately 122 million square feet of rentable space.
See Also: Ex-Dividend
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