Fjarde AP Fonden Fourth Swedish National Pension Fund Has $7.90 Million Position in Extra Space Storage Inc $EXR

Key Points

• Fjarde AP Fonden increased its stake in Extra Space Storage (NYSE: EXR) by 42.6% in the first quarter, ending with 60,256 shares valued at about $7.9 million.
• Extra Space Storage reported Q1 earnings of $1.14 per share, missing analyst expectations of $2.01, while revenue came in slightly ahead of estimates at $856.0 million and rose 4.4% year over year.
• The company paid a quarterly dividend of $1.62 per share and currently offers an annualized yield of 4.3%; analysts’ consensus rating remains Hold with an average price target of $153.07.

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 42.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 60,256 shares of the real estate investment trust's stock after buying an additional 18,000 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Extra Space Storage were worth $7,901,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in EXR. Cohen & Steers Inc. grew its holdings in Extra Space Storage by 13.4% during the 4th quarter. Cohen & Steers Inc. now owns 15,979,424 shares of the real estate investment trust's stock worth $2,080,971,000 after acquiring an additional 1,888,763 shares during the last quarter. State Street Corp raised its stake in shares of Extra Space Storage by 1.7% in the third quarter. State Street Corp now owns 13,910,878 shares of the real estate investment trust's stock worth $1,960,599,000 after acquiring an additional 230,697 shares during the last quarter. Norges Bank bought a new position in shares of Extra Space Storage in the fourth quarter worth about $1,219,606,000. Capital World Investors raised its stake in shares of Extra Space Storage by 0.5% in the third quarter. Capital World Investors now owns 7,161,360 shares of the real estate investment trust's stock worth $1,009,371,000 after acquiring an additional 33,622 shares during the last quarter. Finally, Capital International Investors lifted its position 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 worth $814,746,000 after purchasing an additional 2,658,947 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Trading Down 0.0%

EXR opened at $149.29 on Monday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37. The company has a market cap of $31.54 billion, a price-to-earnings ratio of 33.47, a price-to-earnings-growth ratio of 4.63 and a beta of 1.19. The firm has a 50 day simple moving average of $144.52 and a 200 day simple moving average of $141.13. 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 announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.87). Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The business had revenue of $856.03 million during the quarter, compared to analyst estimates of $851.35 million. During the same quarter in the prior year, the company earned $2.00 earnings per share. The company's quarterly revenue was up 4.4% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. On average, sell-side analysts anticipate that Extra Space Storage Inc will post 8.26 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 4.3%. Extra Space Storage's dividend payout ratio is 145.29%.

Insider Activity

In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of Extra Space Storage stock in a transaction 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 completion of the sale, the executive vice president directly owned 37,374 shares of the company's stock, valued at $5,606,100. The trade was a 8.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.96% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EXR. JPMorgan Chase & Co. increased 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 note on Monday, March 23rd. UBS Group boosted their price objective on shares of Extra Space Storage from $148.00 to $158.00 and gave the stock a "buy" rating in a research report on Monday, May 18th. Bank of America raised Extra Space Storage from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $147.00 to $156.00 in a report on Tuesday, June 16th. Mizuho increased their price objective on Extra Space Storage from $150.00 to $155.00 and gave the company an "outperform" rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Extra Space Storage in a research report on Tuesday, April 21st. Five research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $153.07.

Extra Space Storage Company Profile

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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