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

Extra Space Storage Inc. (NYSE:EXR) Director Joseph J. Bonner sold 672 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total transaction of $100,195.20. Following the sale, the director now directly owns 4,557 shares in the company, valued at $679,448.70. The trade was a 12.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Extra Space Storage Stock Performance

EXR opened at $145.03 on Monday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The company’s fifty day moving average price is $152.94 and its two-hundred day moving average price is $162.01. Extra Space Storage Inc. has a 1-year low of $131.02 and a 1-year high of $184.87. The company has a market cap of $30.75 billion, a price-to-earnings ratio of 37.97, a PEG ratio of 7.76 and a beta of 0.90.

Extra Space Storage (NYSE:EXR) last announced its 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 company had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. On average, analysts expect that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.47%. Extra Space Storage’s dividend payout ratio is currently 160.40%.

Analyst Upgrades and Downgrades

EXR has been the topic of a number of research reports. Wells Fargo & Company reduced 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. Scotiabank reduced their price objective on shares of Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 5th. Truist Financial upped 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 note on Thursday, December 5th. Barclays cut their target price on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. Finally, 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 on the stock in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and a consensus target price of $171.09.

Institutional Trading of Extra Space Storage

Several institutional investors and hedge funds have recently made changes to their positions in EXR. Norges Bank purchased a new stake in shares of Extra Space Storage in the fourth quarter valued at about $938,647,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Extra Space Storage by 724.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust’s stock valued at $357,100,000 after buying an additional 1,741,320 shares during the period. Northern Trust Corp grew its position in Extra Space Storage by 48.7% during the fourth quarter. Northern Trust Corp now owns 2,875,049 shares of the real estate investment trust’s stock valued at $430,107,000 after buying an additional 941,212 shares during the period. Balyasny Asset Management L.P. bought a new position in Extra Space Storage during the fourth quarter valued at about $107,453,000. Finally, Manning & Napier Advisors LLC grew its position in Extra Space Storage by 1,127.2% during the fourth quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust’s stock valued at $116,985,000 after buying an additional 718,266 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Company Profile

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.