Principal Financial Group Inc. Sells 150,495 Shares of Extra Space Storage Inc. (NYSE:EXR)

Principal Financial Group Inc. trimmed its stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,716,161 shares of the real estate investment trust's stock after selling 150,495 shares during the quarter. Principal Financial Group Inc. owned approximately 3.17% of Extra Space Storage worth $1,210,173,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its position in Extra Space Storage by 15.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 43,086 shares of the real estate investment trust's stock valued at $6,388,000 after purchasing an additional 5,703 shares in the last quarter. Nordea Investment Management AB boosted its stake in Extra Space Storage by 4.4% in the first quarter. Nordea Investment Management AB now owns 15,048 shares of the real estate investment trust's stock worth $2,218,000 after buying an additional 634 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in shares of Extra Space Storage by 5.8% during the first quarter. Mutual of America Capital Management LLC now owns 32,030 shares of the real estate investment trust's stock worth $4,708,000 after acquiring an additional 1,767 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Extra Space Storage by 45.0% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,040 shares of the real estate investment trust's stock worth $1,182,000 after acquiring an additional 2,497 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in shares of Extra Space Storage by 10.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 8,921 shares of the real estate investment trust's stock valued at $1,311,000 after purchasing an additional 835 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company's stock.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of the business's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total transaction of $350,660.00. Following the completion of the transaction, the executive vice president now directly owns 11,919 shares of the company's stock, valued at $2,089,758.27. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the completion of the sale, the chief executive officer now owns 24,190 shares in the company, valued at $4,318,398.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP William N. Springer sold 2,000 shares of the company's stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total value of $350,660.00. Following the transaction, the executive vice president now directly owns 11,919 shares in the company, valued at $2,089,758.27. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,970 shares of company stock valued at $3,367,307. 1.36% of the stock is currently owned by corporate insiders.

Extra Space Storage Trading Up 1.9 %

Shares of Extra Space Storage stock traded up $3.08 during trading hours on Thursday, hitting $164.12. The company's stock had a trading volume of 487,136 shares, compared to its average volume of 1,038,278. The company has a quick ratio of 0.20, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $34.78 billion, a PE ratio of 42.15, a P/E/G ratio of 6.15 and a beta of 0.87. The business has a fifty day moving average of $173.03 and a 200 day moving average of $161.17. Extra Space Storage Inc. has a 1-year low of $114.35 and a 1-year high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.12). The firm had revenue of $824.80 million for the quarter, compared to analysts' expectations of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business's quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm earned $2.02 EPS. As a group, equities analysts forecast that Extra Space Storage Inc. will post 8.08 EPS for the current year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Monday, September 16th. Extra Space Storage's payout ratio is currently 169.63%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EXR. KeyCorp lifted their price objective on Extra Space Storage from $172.00 to $178.00 and gave the stock an "overweight" rating in a report on Monday, September 9th. Raymond James increased their price target on Extra Space Storage from $160.00 to $175.00 and gave the company an "outperform" rating in a report on Tuesday, July 23rd. Royal Bank of Canada assumed coverage on shares of Extra Space Storage in a report on Tuesday, September 10th. They set a "sector perform" rating and a $180.00 target price for the company. Wells Fargo & Company reissued an "equal weight" rating and set a $175.00 price target on shares of Extra Space Storage in a report on Monday, October 21st. Finally, Bank of America lowered Extra Space Storage from a "neutral" rating to an "underperform" rating and cut their price target for the stock from $172.00 to $155.00 in a research note on Monday, August 5th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $171.07.

About Extra Space Storage

Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2023, the Company owned and/or operated 3,714 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.6 million units and approximately 283.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.