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Zachary T. Dickens, the Executive Vice President and Chief Investment Officer at Extra Space Storage Inc. (NYSE:EXR), a prominent player in the Specialized REITs industry with a market capitalization of $34.09 billion, recently executed a series of transactions involving the company’s stock. The most notable transaction was the sale of 80 shares on February 28, 2025, at a price of $152.66 per share, totaling $12,212. This sale was conducted through a Roth IRA, leaving no shares remaining in that account. According to InvestingPro analysis, EXR is currently trading near its Fair Value, with the stock showing a solid financial health score.
In addition to the sale, Dickens acquired a significant number of shares through vesting and restricted stock awards. On March 1, 2025, he acquired 1,718 shares following the vesting of performance stock units, valued at $152.56 each. Furthermore, he received 6,948 shares from restricted stock awards under the same price conditions, with these shares vesting 25% annually over four years. The company maintains a notable 4.22% dividend yield and has sustained dividend payments for 22 consecutive years.
Dickens also had shares withheld by the company to cover tax liabilities arising from the settlement of vested restricted stock awards, totaling 970 shares at $152.56 per share. Following these transactions, Dickens holds 26,831 shares directly. For deeper insights into EXR’s valuation and comprehensive analysis, including additional ProTips and detailed metrics, visit InvestingPro.
In other recent news, Extra Space Storage Inc. reported its fourth-quarter 2024 earnings, surpassing earnings per share (EPS) expectations but falling short on revenue forecasts. The company achieved an EPS of $1.24, outperforming the anticipated $1.07, while revenue came in at $821.89 million, slightly below the expected $825.25 million. Despite the positive EPS surprise, the revenue miss has raised concerns among investors. For 2025, Extra Space Storage has set its Core Funds from Operations (FFO) guidance between $8.00 and $8.30 per share, with expectations of modest revenue growth and potential property tax increases. The company continues to maintain industry-leading occupancy rates, although it faces challenges such as decreased same-store revenue and a decline in net operating income. Extra Space Storage has also been active in strategic investments, having invested $950 million in 2024 and originated $980 million in bridge loans. These recent developments underscore the company’s efforts to navigate a complex market environment while managing investor expectations.
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