Insider Selling: Extra Space Storage Inc. (NYSE:EXR) EVP Sells 2,823 Shares of Stock

Extra Space Storage Inc. (NYSE:EXR) EVP Gwyn Goodson Mcneal sold 2,823 shares of Extra Space Storage stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $177.01, for a total transaction of $499,699.23. Following the completion of the transaction, the executive vice president now owns 32,855 shares of the company’s stock, valued at approximately $5,815,663.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Extra Space Storage Price Performance

Shares of EXR stock traded down $0.52 during trading hours on Monday, hitting $177.70. The stock had a trading volume of 722,675 shares, compared to its average volume of 1,054,943. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.20 and a quick ratio of 0.15. The stock has a market capitalization of $37.62 billion, a price-to-earnings ratio of 39.58, a PEG ratio of 3.37 and a beta of 0.83. Extra Space Storage Inc. has a one year low of $101.19 and a one year high of $179.23. The stock’s 50-day moving average price is $161.72 and its two-hundred day moving average price is $149.86.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $1.62 per share. The ex-dividend date is Monday, September 16th. This represents a $6.48 annualized dividend and a dividend yield of 3.65%. Extra Space Storage’s dividend payout ratio (DPR) is 144.32%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EXR. Cetera Investment Advisers raised its stake in Extra Space Storage by 0.4% during the second quarter. Cetera Investment Advisers now owns 45,643 shares of the real estate investment trust’s stock valued at $7,093,000 after purchasing an additional 193 shares in the last quarter. Truist Financial Corp raised its position in shares of Extra Space Storage by 15.6% during the 2nd quarter. Truist Financial Corp now owns 34,371 shares of the real estate investment trust’s stock valued at $5,342,000 after buying an additional 4,641 shares in the last quarter. Pathway Financial Advisers LLC raised its position in shares of Extra Space Storage by 1.6% during the 2nd quarter. Pathway Financial Advisers LLC now owns 11,258 shares of the real estate investment trust’s stock valued at $1,742,000 after buying an additional 177 shares in the last quarter. Quarry LP lifted its holdings in shares of Extra Space Storage by 1,480.0% in the 2nd quarter. Quarry LP now owns 869 shares of the real estate investment trust’s stock valued at $135,000 after acquiring an additional 814 shares during the last quarter. Finally, Sunbelt Securities Inc. grew its position in Extra Space Storage by 441.2% in the second quarter. Sunbelt Securities Inc. now owns 617 shares of the real estate investment trust’s stock worth $96,000 after acquiring an additional 503 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EXR has been the subject of a number of recent analyst reports. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. Scotiabank upped their target price on shares of Extra Space Storage from $159.00 to $169.00 and gave the stock a “sector underperform” rating in a report on Thursday. Citigroup lowered their target price on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. Raymond James boosted their price target on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Finally, Barclays increased their price objective on Extra Space Storage from $158.00 to $188.00 and gave the stock an “overweight” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Extra Space Storage has an average rating of “Hold” and a consensus price target of $165.25.

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.