Extra Space Storage (NYSE:EXR) CEO Joseph Margolis Sells 7,500 Shares

Extra Space Storage Inc (NYSE:EXR) CEO Joseph Margolis sold 7,500 shares of the company’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $142.08, for a total transaction of $1,065,600.00. Following the completion of the sale, the chief executive officer directly owned 66,495 shares in the company, valued at $9,447,609.60. This represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Extra Space Storage Stock Down 1.4%

NYSE EXR traded down $1.92 during trading hours on Monday, reaching $139.46. 1,533,653 shares of the company traded hands, compared to its average volume of 1,372,715. The stock has a market capitalization of $29.44 billion, a PE ratio of 30.32, a PEG ratio of 2.84 and a beta of 1.24. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.92. Extra Space Storage Inc has a 12 month low of $121.03 and a 12 month high of $155.19. The company has a 50 day moving average of $143.43 and a two-hundred day moving average of $139.79.

Extra Space Storage (NYSE:EXR) last released its earnings results on Thursday, February 19th. The real estate investment trust reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.05. Extra Space Storage had a net margin of 28.84% and a return on equity of 6.79%. The company had revenue of $857.47 million during the quarter, compared to the consensus estimate of $732.92 million. During the same quarter in the previous year, the firm earned $2.03 EPS. The company’s revenue was up 4.3% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. As a group, equities analysts expect that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, March 16th. This represents a $6.48 annualized dividend and a yield of 4.6%. Extra Space Storage’s dividend payout ratio is presently 140.87%.

Analysts Set New Price Targets

Several brokerages have recently commented on EXR. Truist Financial lifted their target price on Extra Space Storage from $142.00 to $146.00 and gave the stock a “hold” rating in a research report on Tuesday, January 20th. Wells Fargo & Company reduced their price objective on Extra Space Storage from $160.00 to $150.00 and set an “overweight” rating on the stock in a research note on Thursday, February 5th. Scotiabank lifted their price objective on shares of Extra Space Storage from $145.00 to $156.00 and gave the stock a “sector perform” rating in a report on Monday, March 2nd. UBS Group lowered their target price on shares of Extra Space Storage from $156.00 to $148.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Finally, Mizuho increased their target price on shares of Extra Space Storage from $137.00 to $143.00 and gave the stock an “outperform” rating in a report on Monday, January 12th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $145.13.

Institutional Trading of Extra Space Storage

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in Extra Space Storage during the 4th quarter worth $1,219,606,000. Capital International Investors lifted its stake in Extra Space Storage by 73.9% in the fourth quarter. Capital International Investors now owns 6,256,687 shares of the real estate investment trust’s stock valued at $814,746,000 after buying an additional 2,658,947 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Extra Space Storage by 900.0% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,187,795 shares of the real estate investment trust’s stock valued at $308,348,000 after buying an additional 1,969,013 shares during the last quarter. Cohen & Steers Inc. boosted its holdings in shares of Extra Space Storage by 13.4% during the fourth quarter. Cohen & Steers Inc. now owns 15,979,424 shares of the real estate investment trust’s stock valued at $2,080,971,000 after acquiring an additional 1,888,763 shares during the period. Finally, Resolution Capital Ltd boosted its holdings in shares of Extra Space Storage by 116.2% during the second quarter. Resolution Capital Ltd now owns 1,950,842 shares of the real estate investment trust’s stock valued at $287,632,000 after acquiring an additional 1,048,685 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Company Profile

Extra Space Storage (NYSE: EXR) is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.