Extra Space Storage, Inc. (NYSE:EXR) – Analysts at Cantor Fitzgerald dropped their FY2017 earnings per share estimates for Extra Space Storage in a report issued on Tuesday, Zacks Investment Research reports. Cantor Fitzgerald analyst G. Mehta now forecasts that the real estate investment trust will post earnings of $4.18 per share for the year, down from their previous estimate of $4.22. Cantor Fitzgerald has a “Neutral” rating and a $76.00 price target on the stock.
EXR has been the topic of several other reports. Evercore ISI lowered Extra Space Storage from a “hold” rating to an “underperform” rating in a research note on Friday, March 3rd. Zacks Investment Research upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Wednesday, February 22nd. Royal Bank of Canada lowered Extra Space Storage from an “outperform” rating to a “sector perform” rating and set a $79.00 price target on the stock. in a research note on Tuesday, January 3rd. BMO Capital Markets reiterated 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, Jefferies Group LLC reiterated a “hold” rating and issued a $80.00 price objective on shares of Extra Space Storage in a research note on Monday, April 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $87.56.
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Extra Space Storage (NYSE:EXR) traded down 0.19% during midday trading on Thursday, hitting $80.47. The stock had a trading volume of 1,142,577 shares. Extra Space Storage has a one year low of $68.09 and a one year high of $94.81. The stock has a 50-day moving average price of $76.81 and a 200 day moving average price of $74.91. The firm has a market cap of $10.11 billion, a PE ratio of 27.68 and a beta of 0.41.
Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, February 21st. The real estate investment trust reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.48. Extra Space Storage had a return on equity of 14.98% and a net margin of 30.57%. The business earned $229 million during the quarter, compared to analysts’ expectations of $227.18 million. During the same quarter in the prior year, the business earned $0.87 earnings per share. The company’s quarterly revenue was up 17.0% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently bought and sold shares of EXR. Global X Management Co. LLC increased its position in Extra Space Storage by 100.0% in the third quarter. Global X Management Co. LLC now owns 1,938 shares of the real estate investment trust’s stock valued at $154,000 after buying an additional 969 shares in the last quarter. RiverPoint Capital Management LLC purchased a new position in Extra Space Storage during the third quarter valued at about $214,000. Harvest Fund Management Co. Ltd purchased a new position in Extra Space Storage during the fourth quarter valued at about $229,000. Conning Inc. increased its position in Extra Space Storage by 18.6% in the third quarter. Conning Inc. now owns 2,930 shares of the real estate investment trust’s stock valued at $233,000 after buying an additional 460 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its position in Extra Space Storage by 2.3% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 3,209 shares of the real estate investment trust’s stock valued at $255,000 after buying an additional 73 shares in the last quarter. 99.92% of the stock is currently owned by hedge funds and other institutional investors.
In other Extra Space Storage news, EVP James Overturf sold 1,300 shares of the company’s stock in a transaction on Friday, March 17th. The stock was sold at an average price of $75.21, for a total transaction of $97,773.00. Following the transaction, the executive vice president now owns 92,775 shares of the company’s stock, valued at approximately $6,977,607.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Spencer Kirk sold 20,000 shares of the company’s stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $71.88, for a total value of $1,437,600.00. Following the transaction, the director now directly owns 664,430 shares in the company, valued at approximately $47,759,228.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,200 shares of company stock worth $4,771,541. 4.13% of the stock is owned by corporate insiders.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Wednesday, March 15th were given a dividend of $0.78 per share. The ex-dividend date was Monday, March 13th. This represents a $3.12 dividend on an annualized basis and a yield of 3.88%. Extra Space Storage’s dividend payout ratio (DPR) is presently 134.48%.
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.
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