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

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 stock was sold at an average price of $142.08, for a total value of $1,065,600.00. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Extra Space Storage Stock Down 0.8%

Shares of NYSE EXR opened at $138.39 on Wednesday. The stock has a market cap of $29.22 billion, a P/E ratio of 30.09, a PEG ratio of 2.81 and a beta of 1.24. The business’s fifty day simple moving average is $143.65 and its 200-day simple moving average is $139.73. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $155.19. 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 (NYSE:EXR) last released its earnings results on Thursday, February 19th. The real estate investment trust reported $2.08 EPS for the quarter, topping the consensus estimate of $2.03 by $0.05. Extra Space Storage had a return on equity of 6.79% and a net margin of 28.84%.The firm had revenue of $857.47 million during the quarter, compared to analysts’ expectations of $732.92 million. During the same period in the previous year, the firm posted $2.03 EPS. Extra Space Storage’s revenue for the quarter 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 predict that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.7%. Extra Space Storage’s payout ratio is currently 140.87%.

Analyst Ratings Changes

EXR has been the topic of several analyst reports. Bank of America cut shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and set a $143.00 target price on the stock. in a report on Thursday, February 5th. Scotiabank increased their price objective on shares of Extra Space Storage from $145.00 to $156.00 and gave the company a “sector perform” rating in a research report on Monday, March 2nd. Wells Fargo & Company reduced their price objective on shares of Extra Space Storage from $160.00 to $150.00 and set an “overweight” rating on the stock in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Extra Space Storage in a research report on Thursday, January 22nd. Finally, Truist Financial boosted their target price on shares of Extra Space Storage from $142.00 to $146.00 and gave the stock a “hold” rating in a research note on Tuesday, January 20th. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $145.13.

Hedge Funds Weigh In On Extra Space Storage

A number of large investors have recently made changes to their positions in the stock. Cromwell Holdings LLC boosted its stake in shares of Extra Space Storage by 14.6% during the 4th quarter. Cromwell Holdings LLC now owns 574 shares of the real estate investment trust’s stock worth $75,000 after acquiring an additional 73 shares in the last quarter. Versant Capital Management Inc raised its holdings in Extra Space Storage by 60.2% during the third quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 80 shares during the last quarter. Gilman Hill Asset Management LLC raised its holdings in Extra Space Storage by 5.0% during the fourth quarter. Gilman Hill Asset Management LLC now owns 1,690 shares of the real estate investment trust’s stock worth $220,000 after purchasing an additional 80 shares during the last quarter. Brown Advisory Inc. boosted its position in Extra Space Storage by 1.8% during the second quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock worth $653,000 after purchasing an additional 80 shares in the last quarter. Finally, Manchester Capital Management LLC boosted its position in Extra Space Storage by 18.9% during the fourth quarter. Manchester Capital Management LLC now owns 540 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

About Extra Space Storage

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.