Extra Space Storage Inc. (NYSE:EXR) Director Sells $1,178,047.81 in Stock

Extra Space Storage Inc. (NYSE:EXR) Director Kenneth M. Woolley sold 6,647 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $177.23, for a total value of $1,178,047.81. Following the transaction, the director now directly owns 404,306 shares in the company, valued at approximately $71,655,152.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Extra Space Storage Price Performance

Shares of EXR opened at $181.65 on Thursday. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.76. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $184.87. The firm has a market capitalization of $38.46 billion, a PE ratio of 40.46, a P/E/G ratio of 2.56 and a beta of 0.86. The stock’s 50 day moving average is $169.24 and its two-hundred day moving average is $154.28.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a yield of 3.57%. Extra Space Storage’s payout ratio is 144.32%.

Institutional Trading of Extra Space Storage

Large investors have recently modified their holdings of the business. Norges Bank purchased a new position in shares of Extra Space Storage during the 4th quarter worth $1,022,811,000. Boston Partners purchased a new position in Extra Space Storage in the first quarter valued at approximately $130,554,000. Capital Research Global Investors lifted its position in Extra Space Storage by 111.4% during the fourth quarter. Capital Research Global Investors now owns 1,537,317 shares of the real estate investment trust’s stock valued at $246,478,000 after buying an additional 810,158 shares in the last quarter. Janus Henderson Group PLC grew its stake in Extra Space Storage by 2,244.2% during the first quarter. Janus Henderson Group PLC now owns 597,729 shares of the real estate investment trust’s stock worth $87,824,000 after buying an additional 572,231 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in shares of Extra Space Storage by 43.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,557,135 shares of the real estate investment trust’s stock worth $228,899,000 after acquiring an additional 473,559 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Royal Bank of Canada assumed coverage on shares of Extra Space Storage in a research note on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 target price on the stock. Jefferies Financial Group upgraded Extra Space Storage from a “hold” rating to a “buy” rating and increased their price objective for the stock from $162.00 to $204.00 in a research report on Wednesday. Barclays upped their price target on Extra Space Storage from $158.00 to $188.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Scotiabank upped their target price on shares of Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a research report on Thursday, August 22nd. Finally, Raymond James boosted their price target on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $170.93.

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.