Principal Financial Group Inc. Sells 69,615 Shares of Extra Space Storage Inc $EXR

Key Points

• Principal Financial Group trimmed its stake in Extra Space Storage by 1.0%, selling 69,615 shares and leaving it with 6,646,286 shares (about 3.13% ownership) valued at roughly $865.5 million.
• CEO Joseph D. Margolis sold 7,500 shares at an average price of $142.08 for $1,065,600, reducing his holdings by 10.14% to 66,495 shares.
• Extra Space Storage reported quarterly EPS of $1.14, missing consensus by $0.87 despite revenue of $856.0M slightly topping estimates, set FY 2026 guidance of $8.05–$8.35, and pays a $1.62 quarterly dividend (4.7% yield; 145% payout ratio).

Principal Financial Group Inc. cut its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,646,286 shares of the real estate investment trust's stock after selling 69,615 shares during the period. Principal Financial Group Inc. owned approximately 3.13% of Extra Space Storage worth $865,481,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Avalon Trust Co bought a new stake in Extra Space Storage in the third quarter worth $28,000. Caitong International Asset Management Co. Ltd bought a new stake in Extra Space Storage in the third quarter worth $28,000. Versant Capital Management Inc lifted its stake in Extra Space Storage by 60.2% in the third quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 80 shares during the last quarter. Davis Capital Management bought a new stake in Extra Space Storage in the third quarter worth $35,000. Finally, Rosenberg Matthew Hamilton lifted its stake in Extra Space Storage by 442.9% in the fourth quarter. Rosenberg Matthew Hamilton now owns 266 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 217 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of the business'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 transaction, the chief executive officer owned 66,495 shares in the company, valued at $9,447,609.60. The trade was a 10.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.96% of the stock is owned by corporate insiders.

Extra Space Storage Price Performance

EXR stock opened at $139.18 on Tuesday. The firm's 50-day moving average price is $140.49 and its two-hundred day moving average price is $138.43. Extra Space Storage Inc has a 12-month low of $125.71 and a 12-month high of $155.19. The stock has a market capitalization of $29.39 billion, a price-to-earnings ratio of 31.21, a PEG ratio of 4.50 and a beta of 1.22. The company has a current ratio of 0.37, a quick ratio of 0.39 and a debt-to-equity ratio of 0.93.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $856.03 million during the quarter, compared to analysts' expectations of $851.35 million. During the same quarter in the previous year, the firm posted $2.00 EPS. Extra Space Storage's revenue was up 4.4% compared to the same quarter last year. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. As a group, equities analysts predict that Extra Space Storage Inc will post 8.23 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, March 31st. Investors of record on Monday, March 16th were given a dividend of $1.62 per share. The ex-dividend date was Monday, March 16th. This represents a $6.48 annualized dividend and a dividend yield of 4.7%. Extra Space Storage's payout ratio is currently 145.29%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. UBS Group lowered their price target on shares of Extra Space Storage from $156.00 to $148.00 and set a "buy" rating for the company in a research note on Thursday, January 8th. Scotiabank boosted their price objective on shares of Extra Space Storage from $145.00 to $156.00 and gave the company a "sector perform" rating in a research report on Monday, March 2nd. Truist Financial boosted their price objective on shares of Extra Space Storage from $142.00 to $146.00 and gave the company a "hold" rating in a research report on Tuesday, January 20th. BNP Paribas Exane upgraded shares of Extra Space Storage from a "neutral" rating to an "outperform" rating and set a $154.00 price objective on the stock in a research report on Wednesday, March 18th. Finally, Wells Fargo & Company decreased their price objective on shares of Extra Space Storage from $150.00 to $148.00 and set an "overweight" rating on the stock in a research report on Thursday, April 16th. Six 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. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $143.67.

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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