Principal Financial Group Inc. Has $1 Billion Stake in Extra Space Storage Inc. (NYSE:EXR)

Principal Financial Group Inc. decreased its stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 0.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,699,856 shares of the real estate investment trust's stock after selling 16,305 shares during the quarter. Principal Financial Group Inc. owned 3.16% of Extra Space Storage worth $1,002,306,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in Extra Space Storage by 1.7% in the third quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust's stock valued at $2,412,894,000 after buying an additional 227,006 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Extra Space Storage by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,366,107 shares of the real estate investment trust's stock valued at $426,349,000 after buying an additional 111,137 shares during the period. Daiwa Securities Group Inc. lifted its stake in Extra Space Storage by 10.4% in the third quarter. Daiwa Securities Group Inc. now owns 2,020,459 shares of the real estate investment trust's stock valued at $364,066,000 after buying an additional 189,949 shares during the period. Pathway Financial Advisers LLC lifted its stake in Extra Space Storage by 17,832.9% in the third quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust's stock valued at $363,783,000 after buying an additional 2,007,626 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Extra Space Storage by 724.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust's stock worth $357,100,000 after purchasing an additional 1,741,320 shares during the period. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Stock Up 1.4 %

EXR stock traded up $2.22 during mid-day trading on Thursday, reaching $155.99. The company had a trading volume of 1,461,825 shares, compared to its average volume of 1,240,792. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a 50 day simple moving average of $151.71 and a two-hundred day simple moving average of $163.79. The company has a market capitalization of $33.07 billion, a price-to-earnings ratio of 40.83, a PEG ratio of 7.71 and a beta of 0.91. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87.

Analysts Set New Price Targets

A number of research firms have recently commented on EXR. Truist Financial raised their price target on Extra Space Storage from $167.00 to $168.00 and gave the stock a "hold" rating in a research report on Thursday, December 5th. Barclays dropped their price target on Extra Space Storage from $192.00 to $184.00 and set an "overweight" rating on the stock in a research report on Monday, January 13th. StockNews.com raised Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Tuesday, January 28th. Finally, Scotiabank raised Extra Space Storage from a "sector underperform" rating to a "sector perform" rating and set a $167.00 price target on the stock in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Extra Space Storage has an average rating of "Hold" and a consensus price target of $174.00.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the transaction, the chief executive officer now directly owns 16,690 shares in the company, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.36% of the company's stock.

Extra Space Storage Company Profile

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.