Key Points
- Insider sale: Extra Space Storage EVP Gwyn Goodson Mcneal sold 3,300 shares on June 11 at an average price of $150.00, totaling $495,000. After the transaction, she still owned 37,374 shares.
- Mixed quarterly results: The REIT reported Q1 EPS of $1.14, well below analysts’ estimate of $2.01, though revenue of $856.03 million slightly beat expectations and rose 4.4% year over year.
- Dividend and outlook: Extra Space Storage declared a quarterly dividend of $1.62 per share, yielding about 4.3% annually. Analysts currently have an average Hold rating with a $152.29 price target.
Extra Space Storage Inc (NYSE:EXR - Get Free Report) EVP Gwyn Goodson Mcneal sold 3,300 shares of Extra Space Storage stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $150.00, for a total transaction of $495,000.00. Following the completion of the sale, the executive vice president owned 37,374 shares in the company, valued at $5,606,100. This trade represents a 8.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Extra Space Storage Price Performance
NYSE EXR opened at $150.33 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93. Extra Space Storage Inc has a 12-month low of $125.71 and a 12-month high of $155.19. The company has a market capitalization of $31.76 billion, a PE ratio of 33.71, a price-to-earnings-growth ratio of 4.88 and a beta of 1.20. The firm's 50 day moving average is $142.29 and its 200-day moving average is $139.46.
Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.01 by ($0.87). Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The business had revenue of $856.03 million during the quarter, compared to analyst estimates of $851.35 million. During the same quarter last year, the business earned $2.00 earnings per share. Extra Space Storage's revenue for the quarter was up 4.4% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Equities research analysts anticipate that Extra Space Storage Inc will post 8.24 earnings per share for the current fiscal year.
Extra Space Storage Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.3%. Extra Space Storage's dividend payout ratio (DPR) is currently 145.29%.
Institutional Investors Weigh In On Extra Space Storage
A number of institutional investors have recently modified their holdings of the business. Parallel Advisors LLC raised its stake in Extra Space Storage by 27.8% in the first quarter. Parallel Advisors LLC now owns 1,521 shares of the real estate investment trust's stock valued at $199,000 after purchasing an additional 331 shares in the last quarter. Glenmede Trust Co. NA increased its stake in shares of Extra Space Storage by 8.7% in the first quarter. Glenmede Trust Co. NA now owns 4,997 shares of the real estate investment trust's stock valued at $655,000 after buying an additional 399 shares during the period. Bank of America Corp DE increased its stake in shares of Extra Space Storage by 24.9% in the first quarter. Bank of America Corp DE now owns 780,236 shares of the real estate investment trust's stock valued at $102,312,000 after buying an additional 155,501 shares during the period. Edgestream Partners L.P. increased its stake in shares of Extra Space Storage by 27.3% in the first quarter. Edgestream Partners L.P. now owns 32,371 shares of the real estate investment trust's stock valued at $4,245,000 after buying an additional 6,940 shares during the period. Finally, Arkadios Wealth Advisors increased its stake in shares of Extra Space Storage by 6.7% in the first quarter. Arkadios Wealth Advisors now owns 16,295 shares of the real estate investment trust's stock valued at $2,137,000 after buying an additional 1,022 shares during the period. Institutional investors own 99.11% of the company's stock.
Analysts Set New Price Targets
A number of research firms have commented on EXR. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Extra Space Storage in a research report on Tuesday, April 21st. Royal Bank Of Canada lifted their price objective on shares of Extra Space Storage from $142.00 to $153.00 and gave the stock a "sector perform" rating in a research report on Monday, February 23rd. BNP Paribas Exane raised shares of Extra Space Storage from a "neutral" rating to an "outperform" rating and set a $154.00 price objective for the company in a research report on Wednesday, March 18th. Mizuho boosted their target price on shares of Extra Space Storage from $150.00 to $155.00 and gave the company an "outperform" rating in a research report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Extra Space Storage from $142.00 to $144.00 and gave the company a "neutral" rating in a research report on Monday, March 23rd. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $152.29.
View Our Latest Stock Report on EXR
Extra Space Storage Company Profile
(
Get Free Report)
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.
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