Extra Space Storage Inc. (NYSE:EXR) EVP Sells $195,750.00 in Stock

Extra Space Storage Inc. (NYSE:EXRGet Free Report) EVP Gwyn Goodson Mcneal sold 1,350 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the sale, the executive vice president now directly owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Extra Space Storage Stock Down 0.8 %

Shares of EXR stock traded down $1.20 during trading hours on Monday, reaching $149.40. 1,248,683 shares of the stock were exchanged, compared to its average volume of 1,192,689. The business’s fifty day moving average is $146.86 and its two-hundred day moving average is $134.11. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.30 and a quick ratio of 0.30. Extra Space Storage Inc. has a 12-month low of $101.19 and a 12-month high of $165.85. The firm has a market capitalization of $31.61 billion, a P/E ratio of 30.49, a P/E/G ratio of 3.87 and a beta of 0.74.

Extra Space Storage (NYSE:EXRGet Free Report) last released its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). The firm had revenue of $797.77 million for the quarter, compared to analysts’ expectations of $778.05 million. Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The firm’s quarterly revenue was up 57.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.09 earnings per share. As a group, research analysts expect that Extra Space Storage Inc. will post 8.03 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be paid a $1.62 dividend. The ex-dividend date is Thursday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.34%. Extra Space Storage’s dividend payout ratio is currently 131.17%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EXR. Truist Financial upped their price objective on shares of Extra Space Storage from $138.00 to $152.00 and gave the company a “hold” rating in a report on Thursday, December 28th. TheStreet raised shares of Extra Space Storage from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Wells Fargo & Company decreased their target price on shares of Extra Space Storage from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, March 4th. Morgan Stanley raised shares of Extra Space Storage from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $115.00 to $150.00 in a research report on Thursday, December 21st. Finally, StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $149.33.

Read Our Latest Analysis on EXR

Hedge Funds Weigh In On Extra Space Storage

Hedge funds have recently added to or reduced their stakes in the stock. NewEdge Wealth LLC purchased a new position in Extra Space Storage in the third quarter valued at approximately $341,000. Vanguard Personalized Indexing Management LLC increased its stake in Extra Space Storage by 110.8% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,914 shares of the real estate investment trust’s stock valued at $1,448,000 after purchasing an additional 6,262 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Extra Space Storage by 39.4% in the second quarter. Russell Investments Group Ltd. now owns 392,036 shares of the real estate investment trust’s stock valued at $58,312,000 after purchasing an additional 110,811 shares during the last quarter. Spirit of America Management Corp NY grew its position in shares of Extra Space Storage by 166.7% during the third quarter. Spirit of America Management Corp NY now owns 35,730 shares of the real estate investment trust’s stock worth $4,344,000 after acquiring an additional 22,335 shares during the last quarter. Finally, Xponance Inc. grew its position in shares of Extra Space Storage by 49.3% during the third quarter. Xponance Inc. now owns 27,259 shares of the real estate investment trust’s stock worth $3,314,000 after acquiring an additional 9,003 shares during the last quarter. 66.40% of the stock is currently owned by hedge funds and other institutional investors.

Extra Space Storage Company Profile

(Get Free Report)

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 September 30, 2023, the Company owned and/or operated 3,651 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.5 million units and approximately 279.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.

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Insider Buying and Selling by Quarter for Extra Space Storage (NYSE:EXR)

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