Insider Selling: Extra Space Storage (NYSE:EXR) CEO Sells 7,500 Shares of Stock

Extra Space Storage Inc (NYSE:EXR) CEO Joseph Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $141.41, for a total value of $1,060,575.00. Following the sale, the chief executive officer directly owned 19,760 shares in the company, valued at approximately $2,794,261.60. The trade was a 27.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Extra Space Storage Stock Up 1.1%

Shares of NYSE EXR opened at $142.97 on Friday. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $175.57. The firm has a market cap of $30.35 billion, a price-to-earnings ratio of 31.01, a PEG ratio of 3.46 and a beta of 1.11. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29. The stock’s 50-day simple moving average is $141.34 and its 200-day simple moving average is $144.43.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.01). Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.The business had revenue of $841.62 million for the quarter, compared to analysts’ expectations of $719.43 million. During the same period in the previous year, the firm posted $2.06 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. As a group, equities analysts anticipate that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Monday, September 15th. Extra Space Storage’s dividend payout ratio (DPR) is 140.56%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on EXR shares. The Goldman Sachs Group reiterated a “neutral” rating and issued a $146.00 price target (down from $169.00) on shares of Extra Space Storage in a research note on Thursday, August 21st. BNP Paribas Exane initiated coverage on Extra Space Storage in a research report on Tuesday, June 24th. They set a “neutral” rating and a $156.00 price objective for the company. Citigroup dropped their target price on Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Friday, August 22nd. Barclays dropped their price target on Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Finally, Royal Bank Of Canada lowered their price objective on shares of Extra Space Storage from $160.00 to $148.00 and set a “sector perform” rating on the stock in a research report on Monday, August 4th. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $148.64.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in Extra Space Storage by 17.2% during the 3rd quarter. GAMMA Investing LLC now owns 3,755 shares of the real estate investment trust’s stock worth $529,000 after acquiring an additional 551 shares during the last quarter. Corient Private Wealth LLC lifted its position in Extra Space Storage by 10.7% during the 2nd quarter. Corient Private Wealth LLC now owns 11,749 shares of the real estate investment trust’s stock worth $1,732,000 after acquiring an additional 1,135 shares during the last quarter. Osaic Holdings Inc. raised its position in shares of Extra Space Storage by 17.2% during the second quarter. Osaic Holdings Inc. now owns 15,988 shares of the real estate investment trust’s stock valued at $2,359,000 after buying an additional 2,344 shares during the last quarter. Westwood Holdings Group Inc. acquired a new position in shares of Extra Space Storage during the second quarter valued at about $7,377,000. Finally, CYBER HORNET ETFs LLC acquired a new position in shares of Extra Space Storage during the second quarter valued at about $82,000. 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.