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 company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the completion of the transaction, the executive vice president now owns 20,158 shares of the company’s stock, valued at approximately $3,077,320.28. The trade was a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Extra Space Storage Trading Down 0.2 %

Shares of NYSE EXR traded down $0.37 during mid-day trading on Tuesday, reaching $153.62. The company had a trading volume of 1,188,202 shares, compared to its average volume of 1,353,141. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. The business’s 50-day moving average is $152.47 and its 200-day moving average is $163.25. The stock has a market cap of $32.57 billion, a price-to-earnings ratio of 40.22, a price-to-earnings-growth ratio of 7.76 and a beta of 0.91.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, beating the consensus estimate of $1.10 by $0.93. The business had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. Equities analysts expect 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. Investors of record on Friday, March 14th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s payout ratio is currently 160.40%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EXR. Barclays dropped 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 research report on Monday, January 13th. Truist Financial boosted their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Royal Bank of Canada lowered 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 report on Thursday, February 27th. Wells Fargo & Company lowered their target price on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. 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 investment 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. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $171.55.

Hedge Funds Weigh In On Extra Space Storage

Several hedge funds and other institutional investors have recently modified their holdings of the stock. US Bancorp DE raised its position in Extra Space Storage by 2.0% during the 3rd quarter. US Bancorp DE now owns 27,929 shares of the real estate investment trust’s stock worth $5,033,000 after buying an additional 552 shares during the last quarter. Farther Finance Advisors LLC raised its position in Extra Space Storage by 39.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,277 shares of the real estate investment trust’s stock worth $230,000 after buying an additional 362 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in Extra Space Storage by 4.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,631 shares of the real estate investment trust’s stock worth $1,015,000 after buying an additional 252 shares during the last quarter. Van ECK Associates Corp raised its position in Extra Space Storage by 11.6% during the 3rd quarter. Van ECK Associates Corp now owns 96,609 shares of the real estate investment trust’s stock worth $16,333,000 after buying an additional 10,063 shares during the last quarter. Finally, Donaldson Capital Management LLC raised its position in Extra Space Storage by 59.2% during the 3rd quarter. Donaldson Capital Management LLC now owns 278,152 shares of the real estate investment trust’s stock worth $50,120,000 after buying an additional 103,449 shares during the last quarter. 99.11% of the stock is 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.