Extra Space Storage Inc. (NYSE:EXR) Director Joseph J. Bonner Sells 672 Shares

Extra Space Storage Inc. (NYSE:EXR) Director Joseph J. Bonner sold 672 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $149.10, for a total transaction of $100,195.20. Following the transaction, the director now owns 4,557 shares in the company, valued at $679,448.70. This represents a 12.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Extra Space Storage Stock Performance

Shares of EXR opened at $145.03 on Friday. The company has a market cap of $30.75 billion, a price-to-earnings ratio of 37.97, a P/E/G ratio of 7.76 and a beta of 0.90. The business’s fifty day simple moving average is $152.94 and its two-hundred day simple moving average is $162.10. Extra Space Storage Inc. has a 12 month low of $131.02 and a 12 month high of $184.87. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR) last announced its quarterly 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 firm had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. Research analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.47%. The ex-dividend date is Friday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 160.40%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on EXR shares. Wells Fargo & Company reduced their target price on 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. The Goldman Sachs Group reissued a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Scotiabank reduced their target price on shares of Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 5th. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Finally, Truist Financial upped their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Two equities 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 currently has a consensus rating of “Hold” and a consensus price target of $171.09.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Extra Space Storage in the fourth quarter worth about $10,158,000. Mattson Financial Services LLC raised its stake in Extra Space Storage by 74.4% during the 4th quarter. Mattson Financial Services LLC now owns 18,044 shares of the real estate investment trust’s stock worth $2,699,000 after acquiring an additional 7,696 shares during the period. Phocas Financial Corp. purchased a new position in Extra Space Storage during the fourth quarter valued at approximately $284,000. Siemens Fonds Invest GmbH boosted its position in shares of Extra Space Storage by 3.0% in the fourth quarter. Siemens Fonds Invest GmbH now owns 2,320 shares of the real estate investment trust’s stock worth $342,000 after purchasing an additional 68 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Extra Space Storage in the fourth quarter worth approximately $74,984,000. 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.