Extra Space Storage Inc (EXR) SVP Sells $30,677.50 in Stock
Extra Space Storage Inc (NYSE:EXR) SVP Grace Kunde sold 350 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $87.65, for a total transaction of $30,677.50. Following the completion of the transaction, the senior vice president now directly owns 11,209 shares in the company, valued at approximately $982,468.85. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of Extra Space Storage Inc (EXR) opened at $87.66 on Wednesday. Extra Space Storage Inc has a 12 month low of $68.09 and a 12 month high of $88.05. The stock has a market cap of $11,006.78, a price-to-earnings ratio of 20.41, a PEG ratio of 3.37 and a beta of 0.38. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.68.
Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.03. Extra Space Storage had a net margin of 33.21% and a return on equity of 14.41%. The company had revenue of $284.16 million during the quarter, compared to analysts’ expectations of $246.85 million. During the same quarter in the prior year, the company earned $1.02 EPS. The firm’s revenue was up 10.5% on a year-over-year basis. analysts forecast that Extra Space Storage Inc will post 4.33 earnings per share for the current fiscal year.
Extra Space Storage announced that its Board of Directors has initiated a share buyback plan on Monday, November 13th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.78 dividend. The ex-dividend date is Thursday, December 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.56%. Extra Space Storage’s dividend payout ratio (DPR) is 114.71%.
A number of brokerages have recently commented on EXR. Royal Bank Of Canada increased their price target on shares of Extra Space Storage from $79.00 to $84.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 14th. Cantor Fitzgerald increased their price target on shares of Extra Space Storage from $77.00 to $81.00 and gave the stock a “neutral” rating in a report on Thursday, November 9th. BMO Capital Markets reissued a “hold” rating and issued a $78.00 price target on shares of Extra Space Storage in a report on Thursday, November 2nd. Jefferies Group LLC reissued a “hold” rating and issued a $80.00 price target on shares of Extra Space Storage in a report on Tuesday, October 24th. Finally, KeyCorp reissued a “hold” rating on shares of Extra Space Storage in a report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Extra Space Storage currently has an average rating of “Hold” and a consensus price target of $83.44.
Several institutional investors have recently made changes to their positions in EXR. Fieldpoint Private Securities LLC purchased a new stake in Extra Space Storage during the 3rd quarter valued at $103,000. Penserra Capital Management LLC purchased a new stake in Extra Space Storage during the 3rd quarter valued at $131,000. Janney Montgomery Scott LLC purchased a new stake in Extra Space Storage during the 3rd quarter valued at $200,000. Federated Investors Inc. PA purchased a new stake in Extra Space Storage during the 2nd quarter valued at $218,000. Finally, Donaldson Capital Management LLC purchased a new stake in Extra Space Storage during the 2nd quarter valued at $231,000.
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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