Joseph D. Margolis Sells 7,500 Shares of Extra Space Storage Inc (NYSE:EXR) Stock

Extra Space Storage Inc (NYSE:EXR - Get Free Report) CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the sale, the chief executive officer directly owned 27,260 shares of the company's stock, valued at approximately $4,098,541. This represents a 21.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Extra Space Storage Price Performance

Shares of NYSE:EXR traded up $0.99 during midday trading on Thursday, reaching $152.77. 835,966 shares of the company's stock were exchanged, compared to its average volume of 1,059,185. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.33 and a current ratio of 0.33. The company's 50 day simple moving average is $148.05 and its two-hundred day simple moving average is $148.34. Extra Space Storage Inc has a 12 month low of $121.03 and a 12 month high of $184.87. The firm has a market capitalization of $32.42 billion, a PE ratio of 35.44, a price-to-earnings-growth ratio of 3.66 and a beta of 1.10.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.04. The firm had revenue of $820.00 million during the quarter, compared to analyst estimates of $705.12 million. Extra Space Storage had a net margin of 27.84% and a return on equity of 6.11%. The company's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.96 earnings per share. Equities research analysts expect 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 announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $6.48 annualized dividend and a dividend yield of 4.24%. Extra Space Storage's dividend payout ratio (DPR) is presently 150.35%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of Extra Space Storage from $144.00 to $149.00 and gave the stock an "in-line" rating in a research report on Thursday, May 1st. Bank of America boosted their price objective on Extra Space Storage from $155.00 to $161.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Mizuho raised their target price on Extra Space Storage from $141.00 to $153.00 and gave the company an "outperform" rating in a report on Wednesday, May 28th. Royal Bank Of Canada cut their price target on Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating for the company in a report on Thursday, May 1st. Finally, Wall Street Zen raised Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Extra Space Storage currently has a consensus rating of "Hold" and a consensus price target of $159.29.

Institutional Trading of Extra Space Storage

Institutional investors have recently bought and sold shares of the stock. Harbour Investments Inc. lifted its holdings in shares of Extra Space Storage by 90.9% during the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 80 shares during the period. GKV Capital Management Co. Inc. bought a new stake in shares of Extra Space Storage in the 1st quarter worth about $29,000. Zions Bancorporation National Association UT acquired a new stake in shares of Extra Space Storage during the 1st quarter worth about $50,000. Quarry LP lifted its holdings in Extra Space Storage by 156.1% during the 4th quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 217 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its position in Extra Space Storage by 147.0% in the first quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust's stock valued at $60,000 after buying an additional 241 shares in the last quarter. Institutional investors and hedge funds 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.

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