Extra Space Storage Inc. (NYSE:EXR) EVP Gwyn Goodson Mcneal Sells 2,823 Shares

Extra Space Storage Inc. (NYSE:EXR) EVP Gwyn Goodson Mcneal sold 2,823 shares of Extra Space Storage stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $177.01, for a total transaction of $499,699.23. Following the sale, the executive vice president now owns 32,855 shares in the company, valued at $5,815,663.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Extra Space Storage Price Performance

NYSE EXR opened at $174.71 on Thursday. Extra Space Storage Inc. has a 1 year low of $101.19 and a 1 year high of $179.23. The stock’s 50-day moving average price is $162.86 and its two-hundred day moving average price is $150.52. The company has a market cap of $36.99 billion, a PE ratio of 38.91, a PEG ratio of 3.37 and a beta of 0.83. The company has a current ratio of 0.20, a quick ratio of 0.15 and a debt-to-equity ratio of 0.76.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $1.62 dividend. The ex-dividend date is Monday, September 16th. This represents a $6.48 annualized dividend and a dividend yield of 3.71%. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EXR. Citigroup lowered their target price on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. Raymond James raised their price objective 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. Bank of America downgraded Extra Space Storage from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $172.00 to $155.00 in a research report on Monday, August 5th. Wells Fargo & Company lifted their price target on Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, Truist Financial upped their price objective on Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a report on Friday, August 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Extra Space Storage presently has an average rating of “Hold” and a consensus target price of $166.58.

Hedge Funds Weigh In On Extra Space Storage

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Extra Space Storage by 0.5% in the first quarter. Vanguard Group Inc. now owns 33,686,389 shares of the real estate investment trust’s stock worth $4,951,899,000 after buying an additional 170,380 shares during the period. Principal Financial Group Inc. lifted its stake in Extra Space Storage by 8.9% in the 4th quarter. Principal Financial Group Inc. now owns 7,083,752 shares of the real estate investment trust’s stock worth $1,135,738,000 after acquiring an additional 577,918 shares in the last quarter. Norges Bank acquired a new stake in Extra Space Storage during the 4th quarter worth about $1,022,811,000. Massachusetts Financial Services Co. MA grew its stake in Extra Space Storage by 4.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,549,231 shares of the real estate investment trust’s stock valued at $551,586,000 after acquiring an additional 157,763 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Extra Space Storage by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,127,012 shares of the real estate investment trust’s stock valued at $485,973,000 after purchasing an additional 45,717 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

About Extra Space Storage

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.