Extra Space Storage Inc. (NYSE:EXR) Director Kenneth M. Woolley Sells 6,647 Shares

Extra Space Storage Inc. (NYSE:EXR) Director Kenneth M. Woolley sold 6,647 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $177.23, for a total value of $1,178,047.81. Following the transaction, the director now directly owns 404,306 shares in the company, valued at $71,655,152.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Extra Space Storage Stock Performance

EXR stock opened at $181.65 on Thursday. The company has a market capitalization of $38.46 billion, a P/E ratio of 40.46, a PEG ratio of 2.56 and a beta of 0.86. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.76. The company has a 50-day simple moving average of $169.24 and a 200 day simple moving average of $154.28. Extra Space Storage Inc. has a fifty-two week low of $101.19 and a fifty-two week high of $184.87.

Extra Space Storage Dividend Announcement

The business 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 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Monday, September 16th. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Truist Financial raised their price target on shares of Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a report on Friday, August 16th. KeyCorp raised their target price on Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Bank of America downgraded Extra Space Storage from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $172.00 to $155.00 in a report on Monday, August 5th. StockNews.com upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, Jefferies Financial Group upgraded Extra Space Storage from a “hold” rating to a “buy” rating and increased their target price for the company from $162.00 to $204.00 in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $170.93.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. EdgeRock Capital LLC bought a new position in Extra Space Storage during the 2nd quarter valued at $25,000. Creekmur Asset Management LLC bought a new position in Extra Space Storage during the fourth quarter valued at about $26,000. Centerpoint Advisors LLC acquired a new position in Extra Space Storage during the second quarter worth about $27,000. Blue Trust Inc. grew its holdings in Extra Space Storage by 540.5% during the second quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 200 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of Extra Space Storage by 2,760.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 276 shares in the last quarter. Institutional investors and hedge funds 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.