Extra Space Storage, Inc. (NYSE:EXR) VP P Scott Stubbs sold 9,250 shares of the stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $85.73, for a total value of $793,002.50. Following the transaction, the vice president now directly owns 144,973 shares in the company, valued at approximately $12,428,535.29. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Extra Space Storage, Inc. (NYSE EXR) traded down $0.25 during mid-day trading on Friday, hitting $85.98. The stock had a trading volume of 1,650,438 shares, compared to its average volume of 1,094,709. The firm has a market cap of $10,868.21, a P/E ratio of 22.87, a price-to-earnings-growth ratio of 3.27 and a beta of 0.25. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.67. Extra Space Storage, Inc. has a 1-year low of $71.34 and a 1-year high of $88.56.
Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.55. Extra Space Storage had a return on equity of 18.87% and a net margin of 44.67%. The firm had revenue of $281.84 million during the quarter, compared to the consensus estimate of $283.74 million. equities analysts forecast that Extra Space Storage, Inc. will post 4.6 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be issued a $0.78 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $3.12 annualized dividend and a yield of 3.63%. Extra Space Storage’s dividend payout ratio is currently 82.98%.
A number of hedge funds and other institutional investors have recently made changes to their positions in EXR. Fieldpoint Private Securities LLC acquired a new stake in Extra Space Storage in the 3rd quarter valued at $103,000. Janney Montgomery Scott LLC acquired a new stake in Extra Space Storage in the 3rd quarter valued at $200,000. Conning Inc. acquired a new stake in Extra Space Storage in the 4th quarter valued at $202,000. Mackenzie Financial Corp acquired a new stake in Extra Space Storage in the 3rd quarter valued at $237,000. Finally, Commonwealth Equity Services Inc acquired a new stake in Extra Space Storage in the 3rd quarter valued at $245,000.
A number of research analysts have weighed in on EXR shares. Jefferies Group set a $92.00 price target on Extra Space Storage and gave the stock a “hold” rating in a research note on Tuesday, March 6th. Morgan Stanley upgraded Extra Space Storage from an “underweight” rating to an “equal weight” rating and set a $83.00 price objective for the company in a report on Wednesday, December 13th. Cantor Fitzgerald set a $86.00 price objective on Extra Space Storage and gave the stock a “hold” rating in a report on Thursday, March 8th. Wells Fargo set a $93.00 price objective on Extra Space Storage and gave the stock a “buy” rating in a report on Thursday, November 30th. Finally, Zacks Investment Research upgraded Extra Space Storage from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a report on Monday, November 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $86.92.
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About Extra Space Storage
Extra Space Storage Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, manages, acquires, develops and redevelops self-storage properties located throughout the United States. The Company operates through three segments: rental operations; tenant reinsurance, and property management, acquisition and development.
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