Deutsche Bank AG Raises Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Deutsche Bank AG increased its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 9.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 603,143 shares of the real estate investment trust’s stock after acquiring an additional 53,851 shares during the quarter. Deutsche Bank AG’s holdings in Extra Space Storage were worth $90,230,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crestline Management LP purchased a new stake in shares of Extra Space Storage during the 4th quarter valued at $1,107,000. Cetera Investment Advisers grew its position in Extra Space Storage by 1.7% during the fourth quarter. Cetera Investment Advisers now owns 44,014 shares of the real estate investment trust’s stock valued at $6,585,000 after buying an additional 744 shares during the period. BROOKFIELD Corp ON grew its position in Extra Space Storage by 7.8% during the fourth quarter. BROOKFIELD Corp ON now owns 198,607 shares of the real estate investment trust’s stock valued at $29,712,000 after buying an additional 14,409 shares during the period. Bridgefront Capital LLC purchased a new stake in Extra Space Storage during the fourth quarter worth about $703,000. Finally, Captrust Financial Advisors increased its holdings in Extra Space Storage by 0.5% during the fourth quarter. Captrust Financial Advisors now owns 37,489 shares of the real estate investment trust’s stock worth $5,608,000 after buying an additional 172 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Activity

In related news, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction on Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the completion of the sale, the executive vice president now owns 20,158 shares of the company’s stock, valued at approximately $3,077,320.28. This trade represents a 5.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total value of $1,105,875.00. Following the completion of the transaction, the chief executive officer now owns 9,190 shares in the company, valued at $1,355,065.50. This represents a 44.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,392 shares of company stock worth $1,392,315. 0.96% of the stock is owned by company insiders.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $148.72 on Monday. The stock has a market cap of $31.56 billion, a PE ratio of 38.93, a price-to-earnings-growth ratio of 7.76 and a beta of 1.14. Extra Space Storage Inc. has a fifty-two week low of $121.03 and a fifty-two week high of $184.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The stock has a fifty day moving average of $143.80 and a 200-day moving average of $152.51.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, topping the consensus estimate of $1.96 by $0.04. The business had revenue of $820.00 million during the quarter, compared to the consensus estimate of $705.12 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.96 EPS. Equities research analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage’s payout ratio is 150.35%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of Extra Space Storage from $144.00 to $149.00 and gave the company an “in-line” rating in a research note on Thursday, May 1st. The Goldman Sachs Group reiterated a “buy” rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Barclays decreased their target price on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. Scotiabank raised Extra Space Storage from a “sector perform” rating to a “sector outperform” rating and dropped their price target for the company from $165.00 to $149.00 in a research report on Wednesday, April 9th. Finally, Wells Fargo & Company cut their price target on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Extra Space Storage currently has an average rating of “Moderate Buy” and a consensus target price of $165.42.

Extra Space Storage Profile

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.