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

Extra Space Storage Inc. (NYSE:EXR) CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the transaction, the chief executive officer now directly owns 24,190 shares of the company’s stock, valued at approximately $4,318,398.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Extra Space Storage Stock Down 0.5 %

EXR traded down $0.92 during midday trading on Thursday, hitting $176.31. The company had a trading volume of 640,335 shares, compared to its average volume of 1,052,581. The stock’s 50 day moving average price is $172.34 and its 200 day moving average price is $156.63. Extra Space Storage Inc. has a 52 week low of $101.19 and a 52 week high of $184.87. The company has a market capitalization of $37.33 billion, a price-to-earnings ratio of 39.27, a PEG ratio of 2.67 and a beta of 0.86. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.76.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date was Monday, September 16th. Extra Space Storage’s payout ratio is 144.32%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on EXR shares. Wells Fargo & Company increased their price objective on Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Evercore ISI increased their price target on Extra Space Storage from $167.00 to $170.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Truist Financial raised their price objective on Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Bank of America cut Extra Space Storage from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $172.00 to $155.00 in a report on Monday, August 5th. Finally, KeyCorp raised their price target on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $170.93.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in EXR. EdgeRock Capital LLC bought a new stake in shares of Extra Space Storage during the second quarter valued at approximately $25,000. Creekmur Asset Management LLC bought a new stake in Extra Space Storage during the 4th quarter valued at $26,000. Centerpoint Advisors LLC acquired a new position in Extra Space Storage during the second quarter worth $27,000. Blue Trust Inc. lifted its stake in shares of Extra Space Storage by 540.5% in the second quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 200 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Extra Space Storage by 2,760.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 276 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

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.