Kenneth M. Woolley Sells 6,647 Shares of Extra Space Storage Inc. (NYSE:EXR) Stock

Extra Space Storage Inc. (NYSE:EXR) Director Kenneth M. Woolley sold 6,647 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $177.23, for a total transaction of $1,178,047.81. Following the completion of the sale, the director now directly owns 404,306 shares of the company’s stock, valued at $71,655,152.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Extra Space Storage Price Performance

EXR stock traded down $0.27 on Monday, reaching $177.63. 1,273,959 shares of the company’s stock were exchanged, compared to its average volume of 1,035,750. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $179.23. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.76. The stock has a fifty day moving average of $167.71 and a 200-day moving average of $153.58. The firm has a market cap of $37.61 billion, a PE ratio of 39.48, a P/E/G ratio of 2.56 and a beta of 0.86.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.65%. Extra Space Storage’s dividend payout ratio is presently 144.32%.

Institutional Trading of Extra Space Storage

Institutional 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 worth approximately $1,022,811,000. Boston Partners purchased a new stake in Extra Space Storage during the first quarter worth $130,554,000. Capital Research Global Investors grew its holdings in Extra Space Storage by 111.4% in the fourth quarter. Capital Research Global Investors now owns 1,537,317 shares of the real estate investment trust’s stock valued at $246,478,000 after purchasing an additional 810,158 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Extra Space Storage by 2,244.2% in the first quarter. Janus Henderson Group PLC now owns 597,729 shares of the real estate investment trust’s stock valued at $87,824,000 after buying an additional 572,231 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Extra Space Storage by 43.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,557,135 shares of the real estate investment trust’s stock valued at $228,899,000 after buying an additional 473,559 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on EXR. Evercore ISI upped their target price on Extra Space Storage from $167.00 to $170.00 and gave the company an “in-line” rating in a research report on Monday. Bank of America lowered 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 research report on Monday, August 5th. Raymond James upped their price target on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. KeyCorp lifted their price objective on shares of Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Finally, Truist Financial increased their target price on shares of Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $168.57.

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.