Allstate Corp Purchases 21,499 Shares of Extra Space Storage Inc. (NYSE:EXR)

Allstate Corp raised its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 212.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 31,629 shares of the real estate investment trust’s stock after buying an additional 21,499 shares during the period. Allstate Corp’s holdings in Extra Space Storage were worth $4,732,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of EXR. Oregon Public Employees Retirement Fund boosted its stake in Extra Space Storage by 0.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,160 shares of the real estate investment trust’s stock valued at $2,717,000 after acquiring an additional 66 shares during the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of Extra Space Storage by 1.3% in the 4th quarter. Wedge Capital Management L L P NC now owns 5,138 shares of the real estate investment trust’s stock worth $769,000 after purchasing an additional 68 shares during the period. Lindbrook Capital LLC lifted its stake in Extra Space Storage by 14.9% in the fourth quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust’s stock valued at $78,000 after purchasing an additional 68 shares during the last quarter. Checchi Capital Advisers LLC grew its holdings in Extra Space Storage by 2.2% during the fourth quarter. Checchi Capital Advisers LLC now owns 3,449 shares of the real estate investment trust’s stock valued at $516,000 after purchasing an additional 75 shares during the period. Finally, Harbour Investments Inc. grew its holdings in Extra Space Storage by 90.9% during the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 80 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on EXR shares. Truist Financial upped their price target on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Wells Fargo & Company reduced their target price on shares of 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. Scotiabank reduced their target price on shares of Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 5th. Royal Bank of Canada dropped their price target on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $171.09.

Insiders Place Their Bets

In other news, Director Joseph J. Bonner sold 672 shares of Extra Space Storage stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total transaction of $100,195.20. Following the completion of the sale, the director now directly owns 4,557 shares of the company’s stock, valued at approximately $679,448.70. The trade was a 12.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP William N. Springer sold 1,220 shares of the company’s 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 transaction, the executive vice president now owns 20,158 shares of the company’s stock, valued at $3,077,320.28. This trade represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,392 shares of company stock valued at $1,396,515 in the last quarter. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Trading Up 0.2 %

Extra Space Storage stock opened at $145.41 on Friday. The stock has a market cap of $30.83 billion, a P/E ratio of 38.07, a PEG ratio of 7.76 and a beta of 0.90. Extra Space Storage Inc. has a fifty-two week low of $131.02 and a fifty-two week high of $184.87. The firm’s fifty day moving average price is $152.33 and its 200-day moving average price is $160.13. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.93. The business had revenue of $821.90 million for the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Equities research analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $1.62 per share. The ex-dividend date is Friday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.46%. Extra Space Storage’s payout ratio is presently 160.40%.

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.