Insider Selling: Extra Space Storage Inc. (NYSE:EXR) CEO Sells 7,500 Shares of Stock

Extra Space Storage Inc. (NYSE:EXR) CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total value of $1,105,875.00. Following the sale, the chief executive officer now directly owns 9,190 shares of the company’s stock, valued at approximately $1,355,065.50. This trade represents a 44.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Extra Space Storage Trading Down 4.2 %

NYSE:EXR opened at $138.05 on Friday. The company has a market cap of $29.27 billion, a P/E ratio of 36.14, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. Extra Space Storage Inc. has a twelve month low of $131.02 and a twelve month high of $184.87. The business has a 50 day moving average price of $151.74 and a two-hundred day moving average price of $158.88. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.93. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. As a group, 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 declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.69%. Extra Space Storage’s dividend payout ratio (DPR) is presently 160.40%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on EXR. Barclays decreased their target price on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Wells Fargo & Company reduced 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 research report on Friday, February 21st. Scotiabank lowered 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 research report on Wednesday, March 5th. Finally, StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday, March 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, Extra Space Storage currently has an average rating of “Hold” and a consensus target price of $171.09.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EXR. Golden State Wealth Management LLC acquired a new stake in shares of Extra Space Storage in the 4th quarter valued at approximately $25,000. Harbour Investments Inc. grew its position in shares of Extra Space Storage by 90.9% in the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 80 shares during the period. Continuum Advisory LLC increased its stake in shares of Extra Space Storage by 68.1% during the 3rd 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. Quent Capital LLC lifted its stake in Extra Space Storage by 89.0% in the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 154 shares during the last quarter. Finally, Asset Planning Inc acquired a new stake in Extra Space Storage in the 4th quarter valued at about $52,000. 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.