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 firm’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the transaction, the director now owns 4,557 shares of the company’s stock, valued at approximately $679,448.70. This represents a 12.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Extra Space Storage Stock Up 0.4 %

Shares of EXR opened at $145.03 on Friday. 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 quick ratio of 0.23 and a current ratio of 0.23. The firm has a market capitalization of $30.75 billion, a price-to-earnings ratio of 37.97, a PEG ratio of 7.76 and a beta of 0.90. The business’s fifty day moving average price is $152.94 and its two-hundred day moving average price is $162.21.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.93. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business had revenue of $821.90 million for the quarter, compared to the consensus estimate of $707.34 million. On average, analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently declared 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 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 currently 160.40%.

Institutional Investors Weigh In On Extra Space Storage

Several institutional investors have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund increased its holdings in shares of Extra Space Storage by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,160 shares of the real estate investment trust’s stock worth $2,717,000 after buying an additional 66 shares in the last quarter. Wedge Capital Management L L P NC increased its position in Extra Space Storage by 1.3% in the 4th quarter. Wedge Capital Management L L P NC now owns 5,138 shares of the real estate investment trust’s stock valued at $769,000 after buying an additional 68 shares in the last quarter. Lindbrook Capital LLC increased its position in Extra Space Storage by 14.9% in the 4th quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust’s stock valued at $78,000 after buying an additional 68 shares in the last quarter. Aptus Capital Advisors LLC increased its holdings in Extra Space Storage by 4.3% during the 4th quarter. Aptus Capital Advisors LLC now owns 1,638 shares of the real estate investment trust’s stock worth $245,000 after purchasing an additional 68 shares in the last quarter. Finally, Siemens Fonds Invest GmbH increased its holdings in Extra Space Storage by 3.0% during the 4th 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 in the last quarter. 99.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on EXR. Royal Bank of Canada decreased their price target on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Scotiabank dropped their price objective 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 restated a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. Wells Fargo & Company lowered their price target on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. Finally, Barclays reduced their price objective on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a research report on Wednesday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $171.09.

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.