William N. Springer Sells 1,220 Shares of Extra Space Storage Inc. (NYSE:EXR) Stock

Extra Space Storage Inc. (NYSE:EXR) EVP William N. Springer sold 1,220 shares of the business’s stock in a transaction on 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 sale, the executive vice president now owns 20,158 shares in the company, valued at $3,077,320.28. This represents a 5.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Extra Space Storage Stock Up 2.5 %

Extra Space Storage stock opened at $157.24 on Thursday. The stock’s fifty day moving average is $152.63 and its two-hundred day moving average is $163.21. The stock has a market cap of $33.33 billion, a PE ratio of 41.16, a P/E/G ratio of 7.76 and a beta of 0.91. Extra Space Storage Inc. has a 1-year low of $131.02 and a 1-year high of $184.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.93. The firm had revenue of $821.90 million during the quarter, compared to analysts’ expectations of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. On average, sell-side analysts expect that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date is Friday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is 160.40%.

Wall Street Analyst Weigh In

Several research firms have weighed in on EXR. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. Scotiabank dropped 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 report on Wednesday. Royal Bank of Canada reduced 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. 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 note on Monday, January 13th. Finally, Wells Fargo & Company cut their price objective on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $171.36.

Institutional Investors Weigh In On Extra Space Storage

A number of institutional investors and hedge funds have recently bought and sold shares of EXR. Golden State Wealth Management LLC acquired a new stake in shares of Extra Space Storage during the fourth quarter worth about $25,000. Harbour Investments Inc. grew its stake in Extra Space Storage by 90.9% during the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 80 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Extra Space Storage during the third quarter worth approximately $33,000. Harvest Fund Management Co. Ltd purchased a new stake in Extra Space Storage in the third quarter valued at approximately $42,000. Finally, Continuum Advisory LLC boosted its holdings in shares of Extra Space Storage by 68.1% in the third quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 126 shares during the period. 99.11% of the stock is owned by hedge funds and other institutional investors.

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.