Extra Space Storage Inc. (NYSE:EXR) CEO Sells $1,144,350.00 in Stock

Extra Space Storage Inc. (NYSE:EXR) CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $152.58, for a total value of $1,144,350.00. Following the sale, the chief executive officer now owns 31,690 shares of the company’s stock, valued at approximately $4,835,260.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Extra Space Storage Price Performance

NYSE EXR opened at $154.12 on Thursday. The stock has a market capitalization of $32.63 billion, a P/E ratio of 34.33, a P/E/G ratio of 3.24 and a beta of 0.83. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.15. The business’s fifty day moving average is $148.26 and its two-hundred day moving average is $146.93. Extra Space Storage Inc. has a 1 year low of $101.19 and a 1 year high of $164.99.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend was Friday, June 14th. Extra Space Storage’s dividend payout ratio is 144.32%.

Hedge Funds Weigh In On Extra Space Storage

Hedge funds and other institutional investors have recently modified their holdings of the stock. O Shaughnessy Asset Management LLC acquired a new position in shares of Extra Space Storage in the third quarter worth about $439,000. Qube Research & Technologies Ltd acquired a new stake in shares of Extra Space Storage in the third quarter worth $1,895,000. Lazard Asset Management LLC increased its holdings in shares of Extra Space Storage by 544.8% in the 3rd quarter. Lazard Asset Management LLC now owns 3,701 shares of the real estate investment trust’s stock valued at $449,000 after purchasing an additional 3,127 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Extra Space Storage by 402.6% during the third quarter. AQR Capital Management LLC now owns 88,819 shares of the real estate investment trust’s stock worth $10,796,000 after purchasing an additional 71,148 shares during the period. Finally, Advisors Asset Management Inc. grew its position in Extra Space Storage by 29.5% during the third quarter. Advisors Asset Management Inc. now owns 17,510 shares of the real estate investment trust’s stock valued at $2,129,000 after purchasing an additional 3,993 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

EXR has been the subject of several research analyst reports. Raymond James reissued an “outperform” rating and issued a $160.00 price objective on shares of Extra Space Storage in a report on Thursday, March 28th. Barclays upped their price target on Extra Space Storage from $157.00 to $158.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Wells Fargo & Company boosted their target price on shares of Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Citigroup reduced their price target on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Finally, Evercore ISI lowered their price objective on shares of Extra Space Storage from $145.00 to $139.00 in a research report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Extra Space Storage has an average rating of “Hold” and an average price target of $151.83.

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.