Extra Space Storage Inc $EXR is PGGM Investments' 6th Largest Position

Key Points

• PGGM Investments trimmed its stake in Extra Space Storage by 3.3% in the fourth quarter but still held 1.41 million shares, making the REIT its 6th largest position.
• Wall Street sentiment is mixed: analysts currently give Extra Space Storage an average Hold rating, with a consensus price target of about $151 per share.
• The company posted quarterly EPS of $1.14, missing estimates, though revenue came in slightly above expectations; it also declared a quarterly dividend of $1.62 per share, yielding about 4.5%.

PGGM Investments cut its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 3.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,409,528 shares of the real estate investment trust's stock after selling 48,246 shares during the period. Extra Space Storage comprises approximately 2.9% of PGGM Investments' portfolio, making the stock its 6th largest position. PGGM Investments owned about 0.66% of Extra Space Storage worth $183,549,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in 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 buying an additional 1,969,013 shares during the period. Resolution Capital Ltd boosted its position in Extra Space Storage by 116.2% during 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 buying an additional 1,048,685 shares during the period. First Eagle Investment Management LLC boosted its position in Extra Space Storage by 61.8% during the fourth quarter. First Eagle Investment Management LLC now owns 2,552,053 shares of the real estate investment trust's stock valued at $332,328,000 after buying an additional 974,804 shares during the period. Pictet Asset Management Holding SA boosted its position in Extra Space Storage by 191.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,362,422 shares of the real estate investment trust's stock valued at $177,425,000 after buying an additional 895,013 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Extra Space Storage by 85.7% during the third quarter. Russell Investments Group Ltd. now owns 1,441,444 shares of the real estate investment trust's stock valued at $203,160,000 after buying an additional 665,204 shares during the period. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Extra Space Storage in a research report on Tuesday, April 21st. Wall Street Zen lowered shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Saturday, April 25th. Royal Bank Of Canada upped their price target on shares of Extra Space Storage from $142.00 to $153.00 and gave the company a "sector perform" rating in a research report on Monday, February 23rd. JPMorgan Chase & Co. upped their price target on shares of Extra Space Storage from $142.00 to $144.00 and gave the company a "neutral" rating in a research report on Monday, March 23rd. Finally, Truist Financial cut their price target on shares of Extra Space Storage from $158.00 to $150.00 and set a "hold" rating for the company in a research report on Wednesday, May 6th. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $151.00.

Extra Space Storage Stock Performance

Shares of NYSE:EXR opened at $143.23 on Tuesday. The company has a market cap of $30.26 billion, a price-to-earnings ratio of 32.11, a price-to-earnings-growth ratio of 4.66 and a beta of 1.22. The company has a 50-day moving average price of $138.77 and a 200-day moving average price of $138.12. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93. Extra Space Storage Inc has a 12 month low of $125.71 and a 12 month high of $155.19.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.14 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.87). The firm had revenue of $856.03 million for the quarter, compared to the consensus estimate of $851.35 million. Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The business's revenue was up 4.4% on a year-over-year basis. During the same period last year, the company posted $2.00 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. As a group, equities analysts anticipate that Extra Space Storage Inc will post 8.23 EPS for the current year.

Extra Space Storage Dividend Announcement

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

Insider Activity at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $142.08, for a total transaction of $1,065,600.00. Following the completion of the transaction, the chief executive officer directly owned 66,495 shares of the company's stock, valued at approximately $9,447,609.60. This represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.96% of the company's stock.

About Extra Space Storage

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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