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

Principal Financial Group Inc. decreased its stake in Extra Space Storage Inc. (NYSE:EXR) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,716,161 shares of the real estate investment trust’s stock after selling 150,495 shares during the period. Principal Financial Group Inc. owned about 3.17% of Extra Space Storage worth $1,210,173,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. EdgeRock Capital LLC purchased a new stake in Extra Space Storage during the second quarter valued at about $25,000. Centerpoint Advisors LLC purchased a new stake in Extra Space Storage in the second quarter worth approximately $27,000. Blue Trust Inc. grew its position in Extra Space Storage by 540.5% during the second quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 200 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Extra Space Storage by 2,760.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 276 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Extra Space Storage by 19.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock worth $72,000 after acquiring an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Trading Down 4.5 %

NYSE EXR opened at $161.03 on Thursday. Extra Space Storage Inc. has a 12 month low of $104.88 and a 12 month high of $184.87. The company has a current ratio of 0.23, a quick ratio of 0.20 and a debt-to-equity ratio of 0.77. The stock’s fifty day moving average price is $173.03 and its 200-day moving average price is $161.17. The stock has a market cap of $34.13 billion, a P/E ratio of 42.15, a P/E/G ratio of 6.15 and a beta of 0.87.

Extra Space Storage (NYSE:EXR) last issued its 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). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm had revenue of $824.80 million during the quarter, compared to analysts’ expectations of $826.93 million. During the same period last year, the firm posted $2.02 earnings per share. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, equities analysts forecast that Extra Space Storage Inc. will post 8.08 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $1.62 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $6.48 annualized dividend and a yield of 4.02%. Extra Space Storage’s payout ratio is 169.63%.

Analyst Ratings Changes

Several analysts have issued reports on EXR shares. Raymond James upped their price target on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Scotiabank lifted their price target on Extra Space Storage from $159.00 to $169.00 and gave the stock a “sector underperform” rating in a research note on Thursday, August 22nd. KeyCorp increased their price objective on Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Finally, Barclays increased their price target on shares of Extra Space Storage from $188.00 to $192.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $171.07.

Insiders Place Their Bets

In other news, EVP William N. Springer sold 2,000 shares of the business’s stock in a transaction that occurred on 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of Extra Space Storage stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 11,919 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $177.01, for a total value of $499,699.23. Following the transaction, the executive vice president now directly owns 32,855 shares in the company, valued at $5,815,663.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,970 shares of company stock valued at $3,367,307. 1.36% of the stock is owned by insiders.

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.