Extra Space Storage Inc. (NYSE:EXR) Director Sells $100,195.20 in Stock

Extra Space Storage Inc. (NYSE:EXRGet Free Report) Director Joseph J. Bonner sold 672 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $149.10, for a total transaction of $100,195.20. Following the transaction, the director now owns 4,557 shares of the company’s stock, valued at $679,448.70. This represents a 12.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Extra Space Storage Trading Up 0.4 %

Shares of Extra Space Storage stock opened at $145.03 on Monday. Extra Space Storage Inc. has a 1 year low of $131.02 and a 1 year high of $184.87. The firm has a market cap of $30.75 billion, a PE ratio of 37.97, a PEG ratio of 7.76 and a beta of 0.90. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The company has a 50 day simple moving average of $152.94 and a two-hundred day simple moving average of $162.01.

Extra Space Storage (NYSE:EXRGet Free Report) last announced its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.93. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. Analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given 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 yield of 4.47%. Extra Space Storage’s payout ratio is presently 160.40%.

Analysts Set New Price Targets

A number of brokerages have weighed in on EXR. Royal Bank of Canada cut their target price on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. Barclays cut their target price on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. The Goldman Sachs Group reiterated a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Scotiabank cut their price objective on shares of Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 5th. Finally, Truist Financial raised their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and a consensus price target of $171.09.

View Our Latest Stock Analysis on Extra Space Storage

Institutional Investors Weigh In On Extra Space Storage

Several hedge funds have recently bought and sold shares of the stock. Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of Extra Space Storage in the 4th quarter worth approximately $10,158,000. Mattson Financial Services LLC lifted its holdings in shares of Extra Space Storage by 74.4% in the 4th quarter. Mattson Financial Services LLC now owns 18,044 shares of the real estate investment trust’s stock worth $2,699,000 after acquiring an additional 7,696 shares during the last quarter. Phocas Financial Corp. bought a new stake in shares of Extra Space Storage in the 4th quarter worth approximately $284,000. Siemens Fonds Invest GmbH lifted its holdings in shares of Extra Space Storage by 3.0% in the 4th quarter. Siemens Fonds Invest GmbH now owns 2,320 shares of the real estate investment trust’s stock worth $342,000 after acquiring an additional 68 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Extra Space Storage in the 4th quarter worth approximately $74,984,000. 99.11% of the stock is currently owned by 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 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.

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

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