Extra Space Storage Inc. (NYSE:EXR) CEO Sells $1,105,875.00 in Stock

Extra Space Storage Inc. (NYSE:EXR) CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the completion of the transaction, the chief executive officer now directly owns 9,190 shares in the company, valued at $1,355,065.50. This represents a 44.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Extra Space Storage Trading Down 4.2 %

Extra Space Storage stock opened at $138.05 on Friday. Extra Space Storage Inc. has a 12 month low of $131.02 and a 12 month high of $184.87. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The stock has a market cap of $29.27 billion, a P/E ratio of 36.14, a P/E/G ratio of 7.76 and a beta of 0.90. The company’s fifty day simple moving average is $151.74 and its 200-day simple moving average is $159.02.

Extra Space Storage (NYSE:EXR) last issued 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 company had revenue of $821.90 million for the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. As a group, sell-side analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.69%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage’s dividend payout ratio is 160.40%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. D.A. Davidson & CO. acquired a new position in Extra Space Storage during the third quarter worth $257,000. PEAK6 Investments LLC boosted its stake in shares of Extra Space Storage by 16.2% during the 3rd quarter. PEAK6 Investments LLC now owns 2,298 shares of the real estate investment trust’s stock worth $414,000 after acquiring an additional 320 shares in the last quarter. Walleye Capital LLC raised its stake in shares of Extra Space Storage by 174.8% in the 3rd quarter. Walleye Capital LLC now owns 1,280 shares of the real estate investment trust’s stock valued at $231,000 after acquiring an additional 2,992 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in Extra Space Storage in the 3rd quarter worth approximately $1,631,000. Finally, Benjamin Edwards Inc. boosted its position in Extra Space Storage by 168.5% during the third quarter. Benjamin Edwards Inc. now owns 4,629 shares of the real estate investment trust’s stock worth $835,000 after purchasing an additional 2,905 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on EXR. Royal Bank of Canada dropped their price target on 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. The Goldman Sachs Group reiterated a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday, March 7th. Scotiabank decreased their target price 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, March 5th. Finally, Wells Fargo & Company cut their price target 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Extra Space Storage currently has a consensus rating of “Hold” and a consensus price target of $171.09.

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.