Extra Space Storage Inc (NYSE:EXR) EVP James Overturf sold 1,300 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $86.26, for a total value of $112,138.00. Following the sale, the executive vice president now owns 81,075 shares of the company’s stock, valued at $6,993,529.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
James Overturf also recently made the following trade(s):
- On Tuesday, November 14th, James Overturf sold 1,300 shares of Extra Space Storage stock. The shares were sold at an average price of $86.55, for a total value of $112,515.00.
- On Thursday, October 19th, James Overturf sold 1,300 shares of Extra Space Storage stock. The stock was sold at an average price of $81.80, for a total value of $106,340.00.
Extra Space Storage Inc (EXR) opened at $86.12 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.75 and a current ratio of 0.75. Extra Space Storage Inc has a one year low of $71.34 and a one year high of $88.56. The stock has a market capitalization of $10,850.00, a price-to-earnings ratio of 31.66, a PEG ratio of 3.28 and a beta of 0.39.
Extra Space Storage declared that its Board of Directors has initiated a stock repurchase plan on Monday, November 13th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Thursday, December 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 114.71%.
Several institutional investors and hedge funds have recently modified their holdings of the company. Fieldpoint Private Securities LLC bought a new stake in shares of Extra Space Storage in the third quarter worth about $103,000. Penserra Capital Management LLC bought a new stake in Extra Space Storage in the 3rd quarter valued at about $131,000. Janney Montgomery Scott LLC bought a new stake in Extra Space Storage in the 3rd quarter valued at about $200,000. Federated Investors Inc. PA bought a new stake in Extra Space Storage in the 2nd quarter valued at about $218,000. Finally, Pacer Advisors Inc. increased its position in Extra Space Storage by 8.3% in the 2nd quarter. Pacer Advisors Inc. now owns 3,042 shares of the real estate investment trust’s stock valued at $237,000 after buying an additional 232 shares in the last quarter.
Several equities research analysts recently weighed in on the company. Morgan Stanley upgraded Extra Space Storage from an “underweight” rating to an “equal weight” rating and set a $83.00 target price for the company in a report on Wednesday, December 13th. Zacks Investment Research lowered Extra Space Storage from a “buy” rating to a “hold” rating in a research note on Thursday, November 23rd. Royal Bank of Canada boosted their price objective on Extra Space Storage from $79.00 to $84.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 14th. Jefferies Group set a $90.00 price objective on Extra Space Storage and gave the stock a “hold” rating in a research note on Tuesday, November 28th. Finally, Cantor Fitzgerald boosted their price objective on Extra Space Storage from $77.00 to $81.00 and gave the stock a “neutral” rating in a research note on Thursday, November 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $86.42.
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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