Extra Space Storage Inc. (NYSE:EXR – Get Free Report) CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the completion of the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Extra Space Storage Stock Performance
Shares of EXR stock opened at $147.77 on Thursday. The company has a market cap of $31.32 billion, a P/E ratio of 38.68, a PEG ratio of 7.96 and a beta of 0.89. The firm has a fifty day moving average price of $159.38 and a 200 day moving average price of $165.24. 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.
Extra Space Storage (NYSE:EXR – Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.12). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business had revenue of $824.80 million for the quarter, compared to analyst estimates of $826.93 million. During the same period in the prior year, the company posted $2.02 earnings per share. The company’s revenue was up 10.2% compared to the same quarter last year. Sell-side analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.
Extra Space Storage Dividend Announcement
Wall Street Analyst Weigh In
A number of analysts have issued reports on EXR shares. Wells Fargo & Company reissued an “equal weight” rating and issued a $175.00 target price on shares of Extra Space Storage in a research report on Monday, October 21st. Truist Financial increased their target price on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Scotiabank dropped their target price on Extra Space Storage from $169.00 to $167.00 and set a “sector underperform” rating for the company in a research report on Monday, November 25th. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Finally, Barclays lifted their price objective on shares of Extra Space Storage from $188.00 to $192.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Three equities research 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $173.08.
Check Out Our Latest Report on EXR
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of EXR. State Street Corp lifted its position in Extra Space Storage by 1.7% in the third quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust’s stock valued at $2,412,894,000 after acquiring an additional 227,006 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Extra Space Storage by 4.7% in 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 purchasing an additional 157,763 shares during the last quarter. Dimensional Fund Advisors LP lifted 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 last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of Extra Space Storage by 7.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,965,638 shares of the real estate investment trust’s stock valued at $460,890,000 after purchasing an additional 198,888 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Extra Space Storage by 4.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,366,107 shares of the real estate investment trust’s stock worth $426,349,000 after buying an additional 111,137 shares during 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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