Extra Space Storage Inc. (NYSE:EXR - Get Free Report) CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total value of $1,105,875.00. Following the completion of the transaction, the chief executive officer now owns 9,190 shares in the company, valued at $1,355,065.50. The trade was a 44.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Extra Space Storage Stock Down 2.2 %
Shares of Extra Space Storage stock opened at $144.17 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. Extra Space Storage Inc. has a 1-year low of $131.02 and a 1-year high of $184.87. The business has a 50-day moving average of $152.02 and a 200-day moving average of $159.30. The company has a market capitalization of $30.56 billion, a PE ratio of 37.74, a P/E/G ratio of 7.76 and a beta of 0.90.
Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share 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 firm had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. As a group, equities analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.
Extra Space Storage Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $1.62 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.49%. Extra Space Storage's dividend payout ratio is presently 160.40%.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Extra Space Storage in the 4th quarter valued at about $938,647,000. Northern Trust Corp increased its holdings in shares of Extra Space Storage by 48.7% in the 4th quarter. Northern Trust Corp now owns 2,875,049 shares of the real estate investment trust's stock valued at $430,107,000 after acquiring an additional 941,212 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Extra Space Storage during the 4th quarter valued at approximately $107,453,000. Manning & Napier Advisors LLC lifted its stake in Extra Space Storage by 1,127.2% during the fourth quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust's stock worth $116,985,000 after purchasing an additional 718,266 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC boosted its holdings in Extra Space Storage by 91.2% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,089,753 shares of the real estate investment trust's stock worth $163,027,000 after purchasing an additional 519,934 shares during the period. 99.11% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the company. StockNews.com lowered Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Friday, March 7th. Royal Bank of Canada reduced their price target on shares of Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 27th. Scotiabank dropped their price objective on shares of Extra Space Storage from $167.00 to $165.00 and set a "sector perform" rating for the company in a research report on Wednesday, March 5th. Truist Financial lifted their target price 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. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Extra Space Storage in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Extra Space Storage presently has a consensus rating of "Hold" and an average price target of $171.09.
Read Our Latest Analysis on EXR
About Extra Space Storage
(
Get Free Report)
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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