Extra Space Storage Inc. (NYSE:EXR - Get Free Report) Director Joseph J. Bonner sold 672 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were 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 of the company's stock, valued at $679,448.70. This represents a 12.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Extra Space Storage Stock Performance
Shares of NYSE EXR traded up $1.22 during mid-day trading on Tuesday, reaching $147.85. 1,336,581 shares of the company's stock were exchanged, compared to its average volume of 1,003,138. The firm has a market capitalization of $31.34 billion, a price-to-earnings ratio of 38.70, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week 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. The firm has a 50-day moving average price of $152.90 and a two-hundred day moving average price of $161.80.
Extra Space Storage (NYSE:EXR - Get Free Report) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.93. The company had revenue of $821.90 million for 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%. Analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current year.
Extra Space Storage Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date is Friday, March 14th. Extra Space Storage's dividend payout ratio is currently 160.40%.
Wall Street Analyst Weigh In
EXR has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their target price on shares of Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating for the company in a research report on Friday, February 21st. Royal Bank of Canada reduced their price objective on shares of Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating for the company in a research report on Thursday, February 27th. Scotiabank cut their target price on Extra Space Storage from $167.00 to $165.00 and set a "sector perform" rating on the stock in a report on Wednesday, March 5th. The Goldman Sachs Group reiterated a "buy" rating on shares of Extra Space Storage in a report on Thursday, March 6th. Finally, Truist Financial increased their target price on Extra Space Storage from $167.00 to $168.00 and gave the stock a "hold" rating in a report on Thursday, December 5th. 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $171.09.
View Our Latest Stock Analysis on EXR
Institutional Investors Weigh In On Extra Space Storage
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in Extra Space Storage in the 4th quarter valued at about $25,000. Harbour Investments Inc. increased its position in shares of Extra Space Storage by 90.9% during the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 80 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Extra Space Storage during the third quarter valued at about $33,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Extra Space Storage during the third quarter valued at about $42,000. Finally, Continuum Advisory LLC increased its position 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 worth $56,000 after purchasing an additional 126 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.
About Extra Space Storage
(
Get Free Report)
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.
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