Extra Space Storage, Inc. (EXR) to Issue Quarterly Dividend of $0.78 on June 30th

Extra Space Storage, Inc. (NYSE:EXR) declared a quarterly dividend on Tuesday, May 23rd, Wall Street Journal reports. Shareholders of record on Thursday, June 15th will be given a dividend of 0.78 per share by the real estate investment trust on Friday, June 30th. This represents a $3.12 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date is Tuesday, June 13th.

Extra Space Storage (EXR) traded up 0.35% on Monday, reaching $74.78. The company’s stock had a trading volume of 68,481 shares. The stock has a market cap of $9.39 billion, a P/E ratio of 25.88 and a beta of 0.38. Extra Space Storage has a one year low of $68.09 and a one year high of $94.49. The stock has a 50-day moving average of $75.65 and a 200-day moving average of $75.32.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Wednesday, April 26th. The real estate investment trust reported $1.03 EPS for the quarter, topping the consensus estimate of $0.98 by $0.05. Extra Space Storage had a return on equity of 14.70% and a net margin of 34.12%. The firm had revenue of $263 million for the quarter, compared to the consensus estimate of $233.12 million. During the same quarter last year, the company earned $0.86 earnings per share. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. On average, analysts predict that Extra Space Storage will post $2.68 EPS for the current fiscal year.

Dividend History for Extra Space Storage (NYSE:EXR)

In related news, EVP James Overturf sold 1,300 shares of the stock in a transaction dated Friday, April 21st. The stock was sold at an average price of $80.50, for a total transaction of $104,650.00. Following the completion of the sale, the executive vice president now owns 91,475 shares in the company, valued at $7,363,737.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Spencer Kirk sold 20,000 shares of the stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $75.75, for a total value of $1,515,000.00. Following the sale, the director now owns 665,748 shares of the company’s stock, valued at approximately $50,430,411. The disclosure for this sale can be found here. Insiders have sold 63,900 shares of company stock valued at $4,822,990 in the last quarter. 3.72% of the stock is currently owned by company insiders.

EXR has been the topic of several recent research reports. Evercore ISI downgraded Extra Space Storage from a “hold” rating to an “underperform” rating in a research note on Friday, March 3rd. Zacks Investment Research raised Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Wednesday, February 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $76.00 price objective on shares of Extra Space Storage in a research note on Wednesday, February 22nd. BMO Capital Markets reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Extra Space Storage in a research note on Wednesday, March 22nd. Finally, Goldman Sachs Group, Inc. (The) raised Extra Space Storage from a “buy” rating to a “conviction-buy” rating and set a $95.00 price objective on the stock in a research note on Monday, May 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $88.50.

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Extra Space Storage Company Profile

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “EXR”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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