Pensionfund PDN Invests $2.32 Million in Extra Space Storage Inc $EXR

Key Points

• Pensionfund PDN bought 17,840 shares of Extra Space Storage (NYSE:EXR) in Q4, a new stake valued at approximately $2.32 million, making EXR its 18th largest holding at 1.5% of the fund.
• CEO Joseph D. Margolis sold 7,500 shares on March 13 for about $1.07 million, reducing his ownership by 10.14% to 66,495 shares (insiders own 1.36% of the stock).
• Extra Space Storage declared a quarterly dividend of $1.62 (annualized $6.48) for a yield of 4.9%, while the dividend payout ratio is notably high at 140.87%.

Pensionfund PDN bought a new stake in Extra Space Storage Inc (NYSE:EXR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,840 shares of the real estate investment trust's stock, valued at approximately $2,323,000. Extra Space Storage makes up 1.5% of Pensionfund PDN's holdings, making the stock its 18th largest position.

A number of other hedge funds have also recently modified their holdings of EXR. Brown Advisory Inc. increased its position in Extra Space Storage by 1.8% in the 2nd quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust's stock valued at $653,000 after acquiring an additional 80 shares during the period. Versant Capital Management Inc lifted its position in Extra Space Storage by 60.2% during the 3rd quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 80 shares during the period. Prestige Wealth Management Group LLC lifted its position in Extra Space Storage by 2.9% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 3,128 shares of the real estate investment trust's stock worth $441,000 after acquiring an additional 88 shares during the period. Exchange Traded Concepts LLC grew its stake in shares of Extra Space Storage by 10.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 983 shares of the real estate investment trust's stock valued at $139,000 after purchasing an additional 91 shares during the last quarter. Finally, Fulton Bank N.A. grew its stake in shares of Extra Space Storage by 6.3% in the 4th quarter. Fulton Bank N.A. now owns 1,575 shares of the real estate investment trust's stock valued at $205,000 after purchasing an additional 93 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Friday, March 13th. The stock was 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. The trade was a 10.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.36% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on EXR. Morgan Stanley cut their price target on Extra Space Storage from $155.00 to $152.00 and set an "equal weight" rating for the company in a research note on Friday, December 5th. UBS Group lowered their price objective on shares of Extra Space Storage from $156.00 to $148.00 and set a "buy" rating on the stock in a research report on Thursday, January 8th. Barclays boosted their price objective on shares of Extra Space Storage from $164.00 to $170.00 and gave the company an "overweight" rating in a research note on Thursday, March 5th. Scotiabank upped their price objective on shares of Extra Space Storage from $145.00 to $156.00 and gave the stock a "sector perform" rating in a research report on Monday, March 2nd. Finally, Mizuho raised their target price on shares of Extra Space Storage from $137.00 to $143.00 and gave the stock an "outperform" rating in a research note on Monday, January 12th. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $143.80.

Extra Space Storage Stock Performance

Shares of EXR opened at $131.87 on Tuesday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.92. Extra Space Storage Inc has a 52-week low of $121.03 and a 52-week high of $155.19. The company has a 50-day simple moving average of $143.34 and a 200-day simple moving average of $139.47. The company has a market capitalization of $27.84 billion, a PE ratio of 28.67, a P/E/G ratio of 2.62 and a beta of 1.24.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its earnings results on Thursday, February 19th. The real estate investment trust reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.05. Extra Space Storage had a net margin of 28.84% and a return on equity of 6.79%. The company had revenue of $857.47 million for the quarter, compared to analyst estimates of $732.92 million. During the same period in the prior year, the business posted $2.03 earnings per share. The firm's revenue for the quarter was up 4.3% compared to the same quarter last year. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Equities research analysts predict that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be issued a $1.62 dividend. The ex-dividend date is Monday, March 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.9%. Extra Space Storage's dividend payout ratio is currently 140.87%.

Extra Space Storage 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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