Extra Space Storage Inc. (NYSE:EXR) EVP Sells $186,245.20 in Stock

Extra Space Storage Inc. (NYSE:EXR) EVP William N. Springer sold 1,220 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the completion of the transaction, the executive vice president now owns 20,158 shares in the company, valued at $3,077,320.28. This trade represents a 5.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Extra Space Storage Stock Up 2.5 %

Shares of NYSE EXR opened at $157.24 on Thursday. The firm has a market cap of $33.33 billion, a P/E ratio of 41.16, a price-to-earnings-growth ratio of 7.76 and a beta of 0.91. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. Extra Space Storage Inc. has a 1 year low of $131.02 and a 1 year high of $184.87. The firm’s 50 day moving average price is $152.63 and its 200 day moving average price is $163.21.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.93. The business had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. As a group, sell-side analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.12%. Extra Space Storage’s payout ratio is currently 160.40%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on EXR shares. Barclays cut their price target 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. Wells Fargo & Company cut their target price on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. StockNews.com upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Truist Financial increased their price objective 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. Finally, Royal Bank of Canada decreased their target price on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $171.36.

Institutional Investors Weigh In On Extra Space Storage

A number of institutional investors have recently bought and sold shares of EXR. State Street Corp boosted its holdings in shares of Extra Space Storage by 1.7% in the 3rd 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 purchasing an additional 227,006 shares during the last quarter. Cohen & Steers Inc. grew its position in Extra Space Storage by 5.9% during the fourth quarter. Cohen & Steers Inc. now owns 9,246,133 shares of the real estate investment trust’s stock valued at $1,383,094,000 after acquiring an additional 516,941 shares during the period. Norges Bank acquired a new stake in Extra Space Storage during the fourth quarter worth about $938,647,000. Dimensional Fund Advisors LP lifted its stake in shares of Extra Space Storage by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,136,640 shares of the real estate investment trust’s stock valued at $469,229,000 after purchasing an additional 24,533 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Extra Space Storage by 3.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,064,970 shares of the real estate investment trust’s stock worth $458,520,000 after purchasing an additional 104,986 shares during the period. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

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.