Insider Selling: Extra Space Storage Inc (EXR) EVP Sells $112,138.00 in Stock
Extra Space Storage Inc (NYSE:EXR) EVP James Overturf sold 1,300 shares of the stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $86.26, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $86.55, for a total transaction 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 transaction of $106,340.00.
Shares of Extra Space Storage Inc (EXR) opened at $86.12 on Friday. The firm has a market cap of $10,850.00, a P/E ratio of 31.66, a P/E/G ratio of 3.28 and a beta of 0.39. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.68. Extra Space Storage Inc has a 1 year low of $71.34 and a 1 year high of $88.56.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given 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 currently 114.71%.
Extra Space Storage announced that its Board of Directors has authorized a stock buyback plan on Monday, November 13th that permits the company to buyback $400.00 million in 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 shares are undervalued.
EXR has been the subject of several recent research reports. Cantor Fitzgerald reiterated a “hold” rating and set a $77.00 target price on shares of Extra Space Storage in a report on Friday, September 1st. Evercore ISI reiterated an “in-line” rating and set a $80.00 target price (up from $78.00) on shares of Extra Space Storage in a report on Thursday, September 14th. BMO Capital Markets initiated coverage on shares of Extra Space Storage in a report on Monday, September 11th. They set a “market perform” rating and a $78.00 target price for the company. Zacks Investment Research upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a report on Wednesday, October 11th. Finally, Royal Bank of Canada lifted their target price on shares of Extra Space Storage from $79.00 to $84.00 and gave the company a “sector perform” rating in a report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $86.42.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Fieldpoint Private Securities LLC bought a new stake in shares of Extra Space Storage during the third quarter valued at approximately $103,000. Penserra Capital Management LLC bought a new stake in shares of Extra Space Storage during the third quarter valued at approximately $131,000. Janney Montgomery Scott LLC bought a new stake in shares of Extra Space Storage during the third quarter valued at approximately $200,000. Federated Investors Inc. PA bought a new stake in shares of Extra Space Storage during the second quarter valued at approximately $218,000. Finally, Mackenzie Financial Corp bought a new stake in shares of Extra Space Storage during the third quarter valued at approximately $237,000.
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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