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

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

Extra Space Storage Price Performance

Shares of EXR stock opened at $179.02 on Wednesday. The stock has a 50 day moving average of $168.68 and a two-hundred day moving average of $154.08. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.76. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $179.42. The company has a market capitalization of $37.90 billion, a P/E ratio of 39.87, a P/E/G ratio of 2.56 and a beta of 0.86.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given 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 3.62%. Extra Space Storage’s dividend payout ratio is currently 144.32%.

Wall Street Analysts Forecast Growth

EXR has been the topic of a number of recent research reports. Royal Bank of Canada initiated coverage on Extra Space Storage in a research note on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 price objective on the stock. Truist Financial upped their price objective on Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a research note on Friday, August 16th. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. Wells Fargo & Company upped their target price on Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Citigroup lowered their target price on Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, June 7th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $168.57.

Institutional Trading of Extra Space Storage

A number of hedge funds have recently modified their holdings of EXR. QRG Capital Management Inc. bought a new position in shares of Extra Space Storage during the 4th quarter worth approximately $242,000. Beacon Pointe Advisors LLC lifted its position in shares of Extra Space Storage by 21.2% during the 4th quarter. Beacon Pointe Advisors LLC now owns 2,130 shares of the real estate investment trust’s stock worth $341,000 after buying an additional 373 shares during the period. Financial Advocates Investment Management bought a new position in shares of Extra Space Storage during the 4th quarter worth approximately $301,000. Brown Advisory Inc. lifted its position in shares of Extra Space Storage by 5.4% during the 4th quarter. Brown Advisory Inc. now owns 4,336 shares of the real estate investment trust’s stock worth $695,000 after buying an additional 221 shares during the period. Finally, Main Street Financial Solutions LLC bought a new position in shares of Extra Space Storage during the 4th quarter worth approximately $328,000. Institutional investors own 99.11% of the company’s stock.

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.