Extra Space Storage Inc $EXR Shares Sold by Principal Financial Group Inc.

Key Points

• Principal Financial Group reduced its stake in Extra Space Storage by 3.2% in Q1, selling 215,960 shares and leaving it with 6.43 million shares worth about $843.2 million.
• Extra Space Storage reported Q1 earnings of $1.14 per share, well below the $2.01 analyst estimate, though revenue came in slightly above expectations at $856.0 million.
• The company paid a $1.62 quarterly dividend and now offers an annualized yield of about 4.5%, while analysts currently rate the stock a consensus “Hold” with a target price of $153.57.

Principal Financial Group Inc. decreased its stake in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 3.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,430,326 shares of the real estate investment trust's stock after selling 215,960 shares during the quarter. Principal Financial Group Inc. owned about 3.04% of Extra Space Storage worth $843,213,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in EXR. Norges Bank acquired a new position in shares of Extra Space Storage in the 4th quarter valued at $1,219,606,000. Capital International Investors grew its stake in Extra Space Storage by 73.9% during the 4th quarter. Capital International Investors now owns 6,256,687 shares of the real estate investment trust's stock valued at $814,746,000 after purchasing an additional 2,658,947 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Extra Space Storage by 900.0% during the 3rd 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 purchasing an additional 1,969,013 shares during the last quarter. Cohen & Steers Inc. increased its holdings 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 purchasing an additional 1,888,763 shares during the period. Finally, Resolution Capital Ltd lifted its holdings in shares of 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 worth $287,632,000 after purchasing an additional 1,048,685 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Stock Up 1.0%

EXR stock opened at $145.44 on Tuesday. Extra Space Storage Inc has a one year low of $125.71 and a one year high of $155.19. 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 firm's fifty day moving average is $144.94 and its 200 day moving average is $141.74. The firm has a market cap of $30.73 billion, a PE ratio of 32.61, a P/E/G ratio of 4.46 and a beta of 1.19.

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 earnings per share for the quarter, missing analysts' consensus estimates of $2.01 by ($0.87). The firm had revenue of $856.03 million during the quarter, compared to analyst estimates of $851.35 million. Extra Space Storage had a return on equity of 6.65% and a net margin of 27.66%.The company's revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company posted $2.00 EPS. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. On average, research analysts forecast that Extra Space Storage Inc will post 8.26 EPS for the current year.

Extra Space Storage Dividend Announcement

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

Analysts Set New Price Targets

EXR has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their price target on shares of Extra Space Storage from $142.00 to $144.00 and gave the stock a "neutral" rating in a research report on Monday, March 23rd. Bank of America upgraded shares of Extra Space Storage from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $147.00 to $156.00 in a research report on Tuesday, June 16th. Mizuho increased 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. Wells Fargo & Company lifted their price objective on Extra Space Storage from $148.00 to $154.00 and gave the company an "overweight" rating in a research note on Monday, June 1st. Finally, UBS Group upped their target price on Extra Space Storage from $158.00 to $163.00 and gave the stock a "buy" rating in a research note on Friday. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $153.57.

Insider Buying and Selling at Extra Space Storage

In other news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $150.00, for a total transaction of $495,000.00. Following the transaction, the executive vice president owned 37,374 shares in the company, valued at $5,606,100. This trade represents a 8.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.96% of the stock is currently owned by insiders.

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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