Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 0.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,699,856 shares of the real estate investment trust’s stock after selling 16,305 shares during the period. Principal Financial Group Inc.’s holdings in Extra Space Storage were worth $1,002,306,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Principal Securities Inc. grew its holdings in shares of Extra Space Storage by 16.5% during the fourth quarter. Principal Securities Inc. now owns 3,034 shares of the real estate investment trust’s stock worth $454,000 after buying an additional 429 shares in the last quarter. Asset Planning Inc purchased a new stake in shares of Extra Space Storage during the fourth quarter worth $52,000. V Square Quantitative Management LLC grew its holdings in shares of Extra Space Storage by 11.5% during the fourth quarter. V Square Quantitative Management LLC now owns 2,636 shares of the real estate investment trust’s stock worth $394,000 after buying an additional 272 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Extra Space Storage by 3.1% during the fourth quarter. Asset Management One Co. Ltd. now owns 399,138 shares of the real estate investment trust’s stock worth $59,108,000 after buying an additional 11,875 shares in the last quarter. Finally, Values First Advisors Inc. grew its holdings in shares of Extra Space Storage by 3.0% during the fourth quarter. Values First Advisors Inc. now owns 3,726 shares of the real estate investment trust’s stock worth $557,000 after buying an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on EXR shares. Barclays dropped their target price on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Scotiabank raised shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective for the company in a report on Friday, January 10th. Wells Fargo & Company reissued an “equal weight” rating and issued a $175.00 price objective on shares of Extra Space Storage in a report on Monday, October 21st. Truist Financial upped their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Finally, StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $174.00.

Insider Transactions at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the sale, the chief executive officer now owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Down 0.6 %

Shares of EXR opened at $154.96 on Monday. The stock has a market capitalization of $32.85 billion, a PE ratio of 40.57, a P/E/G ratio of 7.77 and a beta of 0.91. Extra Space Storage Inc. has a 1 year low of $131.02 and a 1 year high of $184.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The company’s 50-day simple moving average is $152.13 and its 200-day simple moving average is $163.97.

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.