Extra Space Storage, Inc. (NYSE:EXR) EVP James Overturf sold 880 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $82.88, for a total transaction of $72,934.40. Following the sale, the executive vice president now owns 79,935 shares in the company, valued at $6,625,012.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
James Overturf also recently made the following trade(s):
- On Wednesday, December 20th, James Overturf sold 1,300 shares of Extra Space Storage stock. The stock was sold at an average price of $86.26, for a total transaction of $112,138.00.
- On Tuesday, November 14th, James Overturf sold 1,300 shares of Extra Space Storage stock. The stock was sold at an average price of $86.55, for a total transaction of $112,515.00.
Extra Space Storage, Inc. (EXR) traded up $0.94 during midday trading on Friday, hitting $83.64. 1,011,564 shares of the stock were exchanged, compared to its average volume of 955,915. 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, Inc. has a 12 month low of $71.34 and a 12 month high of $88.56. The firm has a market capitalization of $10,540.00, a P/E ratio of 30.75, a PEG ratio of 3.13 and a beta of 0.39.
Extra Space Storage announced that its board has initiated a share buyback plan on Monday, November 13th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were issued a $0.78 dividend. The ex-dividend date was Thursday, December 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.73%. Extra Space Storage’s dividend payout ratio (DPR) is presently 114.71%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Fieldpoint Private Securities LLC acquired a new stake in shares of Extra Space Storage in the third quarter valued at approximately $103,000. Penserra Capital Management LLC acquired a new stake in shares of Extra Space Storage in the third quarter valued at approximately $131,000. Janney Montgomery Scott LLC acquired a new stake in shares of Extra Space Storage in the third quarter valued at approximately $200,000. Federated Investors Inc. PA acquired a new stake in shares of Extra Space Storage in the second quarter valued at approximately $218,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of Extra Space Storage in the third quarter valued at approximately $237,000.
Several analysts have commented on the stock. Morgan Stanley upgraded shares of Extra Space Storage from an “underweight” rating to an “equal weight” rating and set a $83.00 target price on the stock in a report on Wednesday, December 13th. Zacks Investment Research downgraded shares of Extra Space Storage from a “buy” rating to a “hold” rating in a report on Thursday, November 23rd. Royal Bank of Canada raised their target price 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. Jefferies Group set a $90.00 target price on shares of Extra Space Storage and gave the stock a “hold” rating in a report on Tuesday, November 28th. Finally, Cantor Fitzgerald raised their target price 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. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $86.42.
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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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