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

Extra Space Storage Inc. (NYSE:EXR) Director Joseph J. Bonner sold 672 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total transaction of $100,195.20. Following the completion of the transaction, the director now directly owns 4,557 shares of the company’s stock, valued at approximately $679,448.70. This trade represents a 12.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Extra Space Storage Price Performance

EXR opened at $145.03 on Friday. The stock has a market capitalization of $30.75 billion, a P/E ratio of 37.97, a PEG ratio of 7.76 and a beta of 0.90. 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 Inc. has a 12-month low of $131.02 and a 12-month high of $184.87. The stock has a 50-day moving average price of $152.94 and a 200-day moving average price of $162.10.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $821.90 million for the quarter, compared to the consensus estimate of $707.34 million. Equities analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business 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 dividend of $1.62 per share. The ex-dividend date is Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.47%. Extra Space Storage’s dividend payout ratio (DPR) is currently 160.40%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on EXR shares. Barclays reduced their price target on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a research report on Wednesday. The Goldman Sachs Group reiterated a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Wells Fargo & Company cut their price objective on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. Scotiabank decreased 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 report on Wednesday, March 5th. Finally, Truist Financial raised their price target on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $171.09.

Institutional Investors Weigh In On Extra Space Storage

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC lifted its position in Extra Space Storage by 34.4% in the third quarter. Tidal Investments LLC now owns 12,640 shares of the real estate investment trust’s stock valued at $2,278,000 after purchasing an additional 3,234 shares during the last quarter. Swedbank AB grew its holdings in Extra Space Storage by 4.5% in the 3rd quarter. Swedbank AB now owns 243,130 shares of the real estate investment trust’s stock worth $43,810,000 after acquiring an additional 10,408 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Extra Space Storage by 724.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust’s stock valued at $357,100,000 after acquiring an additional 1,741,320 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its holdings in shares of Extra Space Storage by 9.5% during the third quarter. Duff & Phelps Investment Management Co. now owns 35,503 shares of the real estate investment trust’s stock worth $6,397,000 after purchasing an additional 3,093 shares during the period. Finally, Brown Financial Advisors grew its stake in shares of Extra Space Storage by 69.1% in the third quarter. Brown Financial Advisors now owns 9,134 shares of the real estate investment trust’s stock worth $1,646,000 after purchasing an additional 3,731 shares during the last quarter. 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.