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Monday, June 5, 2023

Is Extra Space Storage Inc. (NYSE: EXR) No Longer A Good Investment?

After Hours

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. After-hours trades for Extra Space Storage Inc. (EXR) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$0.02, or -0.01%, to $152.38. The Extra Space Storage Inc. has recorded 20,333 volume in the after hours trading session. Most recently, Yahoo Finance reported about the stock as it publicized that Extra Space Storage Inc. Announces Date of Earnings Release and Conference Call to Discuss 1st Quarter 2023 Results.

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Stocks Info

EXR belongs to the Real Estate sector of the NYSE while operating in the REIT – Industrial industry. At the end of the last regular session, the stock closed at $152.40 and fluctuated between $152.63 as its day high and $150.63 as its day low. The current market capitalization of Extra Space Storage Inc. is $20.45B. A total of 0.76 million shares were traded on the day, compared to an average of 1.44M shares.

Insider Activity

Investors also take into account insider trades in predicting how the stock will perform in the future. During the recent three months, EXR has seen 13 BUY and 29 SELL insider trades, representing the acquisition of 75,240 and the disposition of 22,593 shares. Over the last 12 months, there were 25 BUYs and 35 SELLs from insiders. Insiders purchased 87,735 shares during that period but sold 25,014.

In the most recent transaction, Margolis Joseph D sold 5,000 shares of EXR for 160.07 per share on Apr 04. After the transaction, the Chief Executive Officer now owns 15,144 company shares. In a previous transaction on Mar 08, Herrington Matthew T sold 650 shares at 165.75 per share. EXR shares that EVP & COO owns now total 6,405.

Among the insiders who sold shares, McNeal Gwyn Goodson disposed of 1,500 shares on Mar 02 at a per-share price of $164.00. This resulted in the EVP/Chief Legal Officer holding 32,290 shares of EXR after the transaction. In another insider transaction, Sondhi Samrat sold 6,290 shares at $161.88 per share on Feb 27. Company shares held by the Executive VP and CMO now total 82,653.


Paying dividends generates immediate cash flow for investors and indicates a positive outlook for the company. Extra Space Storage Inc. pays an annual dividend of $6.48, resulting in a dividend yield of 4.25%, and it has a price to earnings (P/E) ratio of 23.78. EXR’s most recent ex-dividend date was 3/14/2023 when it declared a $1.62 quarterly dividend that was paid in cash on 3/31/2023. Previously, the company paid the dividend on 12/30/2022 with an ex-dividend date of 12/13/2022. The EXR stock dividend was $1.50 per share in cash.

While price targets are rarely accurate, they tend to exert some kind of influence from time to time and are often taken into account by investors. According to analysts who have offered 12-month price targets for EXR in the last 3 months, the mean price target is $170.78 with high estimates of $185.00 and low estimates of $145.00. In terms of 52-week highs and lows, EXR has a high of $216.52 and a low of $139.97.

As of this writing, EXR has an earnings estimate of $1.41 per share for the current quarter. EPS was calculated based on a consensus of 7 estimates, with a high estimate of $1.46 per share and a lower estimate of $1.36. The company reported an EPS of $1.65 in the last quarter, which was 3.80% higher than expectations of $1.59.

Balance Sheet Annually/Quarterly

An organization’s balance sheet depicts the assets and liabilities it has, as well as the amount of equity invested. Investors can measure a company’s prospects by calculating its financial ratios using this information. EXR’s latest balance sheet shows that the firm has $71.13M in Cash & Short Term Investments as of fiscal 2021. There were $6.19B in debt and $740.87M in liabilities at the time. Its Book Value Per Share was $24.34, while its Total Shareholder’s Equity was $3.79B.

Analysts Opinion

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. Currently, 12 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for EXR is Hold with a score of 3.44. A total of 4 analysts rated the stock as Buy while 1 rated it as Overweight while 5 rated it as Hold. Among the other participants, 0 thought the stock was Underweight and 2 thought it should be Sold.

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