Extra Space Storage Inc. (NYSE:EXR) EVP Sells $499,699.23 in Stock

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

Extra Space Storage Stock Performance

EXR stock traded down $0.52 during midday trading on Monday, reaching $177.70. 722,675 shares of the company’s stock traded hands, compared to its average volume of 1,054,943. Extra Space Storage Inc. has a 52 week low of $101.19 and a 52 week high of $179.23. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.15 and a current ratio of 0.20. The firm has a market capitalization of $37.62 billion, a PE ratio of 39.58, a price-to-earnings-growth ratio of 3.37 and a beta of 0.83. The company has a 50-day moving average price of $161.72 and a two-hundred day moving average price of $149.86.

Extra Space Storage Announces Dividend

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 $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date is Monday, September 16th. Extra Space Storage’s payout ratio is currently 144.32%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on EXR shares. Barclays raised their target price on Extra Space Storage from $158.00 to $188.00 and gave the stock an “overweight” rating in a report on Thursday. Citigroup cut their price objective on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Evercore ISI lifted their target price on Extra Space Storage from $140.00 to $151.00 and gave the company an “in-line” rating in a research report on Monday, July 15th. Wells Fargo & Company increased their price target on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Truist Financial lifted their price objective on shares of Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $165.25.

Hedge Funds Weigh In On Extra Space Storage

A number of large investors have recently added to or reduced their stakes in EXR. Vanguard Group Inc. grew its holdings in Extra Space Storage by 0.5% in the first quarter. Vanguard Group Inc. now owns 33,686,389 shares of the real estate investment trust’s stock worth $4,951,899,000 after purchasing an additional 170,380 shares during the period. Principal Financial Group Inc. grew its stake in shares of Extra Space Storage by 8.9% during the 4th quarter. Principal Financial Group Inc. now owns 7,083,752 shares of the real estate investment trust’s stock valued at $1,135,738,000 after acquiring an additional 577,918 shares during the period. Norges Bank bought a new stake in Extra Space Storage during the 4th quarter worth approximately $1,022,811,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Extra Space Storage by 4.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,549,231 shares of the real estate investment trust’s stock valued at $551,586,000 after buying an additional 157,763 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Extra Space Storage by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,127,012 shares of the real estate investment trust’s stock valued at $485,973,000 after buying an additional 45,717 shares in the last quarter. 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.