Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases New Position in Extra Space Storage Inc $EXR

Key Points

• Fjarde AP Fonden, the Fourth Swedish National Pension Fund, initiated a new position in Extra Space Storage during the fourth quarter, buying 42,256 shares valued at about $5.5 million.
• Institutional ownership remains extremely high, with hedge funds and other institutional investors holding 99.11% of Extra Space Storage shares. Several large firms, including Vanguard, State Street, and Norges Bank, also recently increased or initiated stakes.
• Extra Space Storage reported mixed quarterly results: revenue came in slightly above expectations, but earnings per share missed estimates by a wide margin. The company also declared a $1.62 quarterly dividend, implying a 4.5% yield.

Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new stake in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 42,256 shares of the real estate investment trust's stock, valued at approximately $5,503,000.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Extra Space Storage by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 34,430,823 shares of the real estate investment trust's stock valued at $4,852,680,000 after buying an additional 161,171 shares in the last quarter. State Street Corp lifted its stake in Extra Space Storage by 1.7% in the 3rd quarter. State Street Corp now owns 13,910,878 shares of the real estate investment trust's stock worth $1,960,599,000 after purchasing an additional 230,697 shares in the last quarter. Norges Bank purchased a new stake in Extra Space Storage in the 4th quarter worth approximately $1,219,606,000. Capital World Investors lifted its stake in Extra Space Storage by 0.5% in the 3rd quarter. Capital World Investors now owns 7,161,360 shares of the real estate investment trust's stock worth $1,009,371,000 after purchasing an additional 33,622 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Extra Space Storage by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 5,945,315 shares of the real estate investment trust's stock worth $771,397,000 after purchasing an additional 56,118 shares in the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Extra Space Storage Stock Performance

Extra Space Storage stock opened at $144.93 on Tuesday. The firm's fifty day moving average price is $140.72 and its 200-day moving average price is $138.97. 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 has a market cap of $30.62 billion, a P/E ratio of 32.50, a price-to-earnings-growth ratio of 4.72 and a beta of 1.20. 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 posted 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). The company had revenue of $856.03 million for the quarter, compared to analysts' expectations 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 quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.00 EPS. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. On average, equities research analysts expect that Extra Space Storage Inc will post 8.24 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on EXR. JPMorgan Chase & Co. increased their target price on shares of Extra Space Storage from $142.00 to $144.00 and gave the stock a "neutral" rating in a research note on Monday, March 23rd. Scotiabank increased their target price on shares of Extra Space Storage from $145.00 to $156.00 and gave the stock a "sector perform" rating in a research note on Monday, March 2nd. Royal Bank Of Canada increased their target price on shares of Extra Space Storage from $142.00 to $153.00 and gave the stock a "sector perform" rating in a research note on Monday, February 23rd. Barclays increased their target price on shares of Extra Space Storage from $164.00 to $170.00 and gave the stock an "overweight" rating in a research note on Thursday, March 5th. Finally, BNP Paribas Exane upgraded 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. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Extra Space Storage currently has a consensus rating of "Hold" and a consensus target price of $152.29.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction on 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 sale, the chief executive officer owned 66,495 shares in the company, valued at approximately $9,447,609.60. This trade represents a 10.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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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