Extra Space Storage, Inc. to Post FY2017 Earnings of $4.18 Per Share, Cantor Fitzgerald Forecasts (EXR)

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.

Earnings History and Estimates for Extra Space Storage (NYSE:EXR)

COPYRIGHT VIOLATION WARNING: “Extra Space Storage, Inc. to Post FY2017 Earnings of $4.18 Per Share, Cantor Fitzgerald Forecasts (EXR)” was posted by Community Financial News and is the property of of Community Financial News. If you are accessing this story on another site, it was illegally copied and republished in violation of international copyright law. The correct version of this story can be accessed at https://www.com-unik.info/2017/04/21/fy2017-eps-estimates-for-extra-space-storage-inc-reduced-by-cantor-fitzgerald-exr-updated-updated.html.

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.

5 Day Chart for NYSE:EXR

Get a free copy of the Zacks research report on Extra Space Storage (EXR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

What are top analysts saying about Extra Space Storage Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Extra Space Storage Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit