Principal Financial Group Inc. Cuts Stake in Extra Space Storage Inc $EXR

by · The Markets Daily

Principal Financial Group Inc. lessened its stake in shares of Extra Space Storage Inc (NYSE:EXR – Free Report) by 3.2% in the 1st quarter, Holdings Channel reports. The firm owned 6,430,326 shares of the real estate investment trust’s stock after selling 215,960 shares during the period. Principal Financial Group Inc.’s holdings in Extra Space Storage were worth $843,213,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EXR. Norges Bank acquired a new stake in Extra Space Storage in the 4th quarter worth about $1,219,606,000. Capital International Investors raised its holdings in shares of Extra Space Storage by 73.9% during the fourth quarter. Capital International Investors now owns 6,256,687 shares of the real estate investment trust’s stock valued at $814,746,000 after acquiring an additional 2,658,947 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Extra Space Storage by 900.0% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,187,795 shares of the real estate investment trust’s stock valued at $308,348,000 after acquiring an additional 1,969,013 shares during the last quarter. Cohen & Steers Inc. lifted its position in shares of Extra Space Storage by 13.4% in the fourth quarter. Cohen & Steers Inc. now owns 15,979,424 shares of the real estate investment trust’s stock valued at $2,080,971,000 after acquiring an additional 1,888,763 shares in the last quarter. Finally, Resolution Capital Ltd lifted its position in shares of Extra Space Storage by 116.2% in the second quarter. Resolution Capital Ltd now owns 1,950,842 shares of the real estate investment trust’s stock valued at $287,632,000 after acquiring an additional 1,048,685 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Stock Performance

NYSE EXR opened at $145.44 on Tuesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. The stock’s fifty day moving average is $144.94 and its two-hundred day moving average is $141.74. The firm has a market capitalization of $30.73 billion, a P/E ratio of 32.61, a price-to-earnings-growth ratio of 4.46 and a beta of 1.19. Extra Space Storage Inc has a fifty-two week low of $125.71 and a fifty-two week high of $155.19.

Extra Space Storage (NYSE:EXR – Get Free Report) last issued its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.87). Extra Space Storage had a return on equity of 6.65% and a net margin of 27.66%.The company had revenue of $856.03 million during the quarter, compared to analyst estimates of $851.35 million. During the same period last year, the business earned $2.00 earnings per share. The firm’s revenue was up 4.4% compared to the same quarter last year. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. On average, research analysts anticipate that Extra Space Storage Inc will post 8.26 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $1.62 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.5%. Extra Space Storage’s dividend payout ratio is 145.29%.

Wall Street Analyst Weigh In

Several analysts recently commented on EXR shares. Mizuho boosted their price target on Extra Space Storage from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. BNP Paribas Exane raised shares of Extra Space Storage from a “neutral” rating to an “outperform” rating and set a $154.00 target price on the stock in a research note on Wednesday, March 18th. Bank of America raised shares of Extra Space Storage from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $147.00 to $156.00 in a research note on Tuesday, June 16th. Barclays boosted their price target on shares of Extra Space Storage from $170.00 to $172.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Extra Space Storage from $142.00 to $144.00 and gave the company a “neutral” rating in a report on Monday, March 23rd. Five research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Extra Space Storage has a consensus rating of “Hold” and a consensus price target of $153.57.

Check Out Our Latest Report on Extra Space Storage

Insider Activity

In other news, EVP Gwyn Goodson Mcneal sold 3,300 shares of Extra Space Storage stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $150.00, for a total transaction of $495,000.00. Following the sale, the executive vice president owned 37,374 shares of the company’s stock, valued at approximately $5,606,100. The trade was a 8.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.96% of the stock is owned by corporate insiders.

Extra Space Storage Profile

(Free Report)

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.

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