Insider Selling: Extra Space Storage Inc. (NYSE:EXR) CEO Sells $1,338,900.00 in Stock

Extra Space Storage Inc. (NYSE:EXR) CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the completion of the sale, the chief executive officer now directly owns 24,190 shares in the company, valued at approximately $4,318,398.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Extra Space Storage Price Performance

NYSE:EXR opened at $169.48 on Friday. Extra Space Storage Inc. has a one year low of $101.19 and a one year high of $184.87. The company has a market cap of $35.88 billion, a P/E ratio of 37.75, a P/E/G ratio of 2.67 and a beta of 0.86. The firm’s fifty day moving average price is $172.75 and its two-hundred day moving average price is $157.11. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.20 and a quick ratio of 0.20.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $1.62 dividend. The ex-dividend date was Monday, September 16th. This represents a $6.48 annualized dividend and a dividend yield of 3.82%. Extra Space Storage’s dividend payout ratio is currently 144.32%.

Wall Street Analyst Weigh In

EXR has been the topic of a number of research reports. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada assumed coverage on shares of Extra Space Storage in a report on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 target price on the stock. Bank of America downgraded shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $172.00 to $155.00 in a report on Monday, August 5th. Wells Fargo & Company boosted their target price on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, Raymond James boosted their target price on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $170.93.

Hedge Funds Weigh In On Extra Space Storage

Institutional investors and hedge funds have recently modified their holdings of the stock. J. W. Coons Advisors LLC boosted its position in shares of Extra Space Storage by 1.9% in the fourth quarter. J. W. Coons Advisors LLC now owns 7,060 shares of the real estate investment trust’s stock valued at $1,132,000 after acquiring an additional 131 shares during the period. Bank of Nova Scotia boosted its position in shares of Extra Space Storage by 32.6% in the fourth quarter. Bank of Nova Scotia now owns 26,372 shares of the real estate investment trust’s stock valued at $4,228,000 after acquiring an additional 6,484 shares during the period. KBC Group NV boosted its position in shares of Extra Space Storage by 11.8% in the fourth quarter. KBC Group NV now owns 34,567 shares of the real estate investment trust’s stock valued at $5,542,000 after acquiring an additional 3,654 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Extra Space Storage by 2.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 170,085 shares of the real estate investment trust’s stock valued at $27,270,000 after acquiring an additional 4,615 shares during the period. Finally, NEOS Investment Management LLC bought a new stake in shares of Extra Space Storage in the fourth quarter valued at about $480,000. 99.11% of the stock is currently 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.