A number of other analysts also recently issued reports on EXR. Cantor Fitzgerald reissued a neutral rating and set a $76.00 target price on shares of Extra Space Storage in a research report on Wednesday, February 22nd. Zacks Investment Research raised shares of Extra Space Storage from a sell rating to a hold rating in a research report on Wednesday, February 22nd. Jefferies Group LLC reissued a hold rating and set a $80.00 target price on shares of Extra Space Storage in a research report on Monday, April 3rd. Evercore ISI downgraded shares of Extra Space Storage from a hold rating to an underperform rating in a research report on Friday, March 3rd. Finally, Royal Bank of Canada reissued a hold rating and set a $80.00 target price on shares of Extra Space Storage in a research report on Thursday, April 27th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Hold and an average price target of $88.50.
Extra Space Storage (EXR) traded up 2.23% during trading on Thursday, hitting $78.50. 1,533,831 shares of the company were exchanged. The stock’s 50-day moving average is $75.25 and its 200-day moving average is $75.45. The company has a market capitalization of $9.86 billion, a price-to-earnings ratio of 27.17 and a beta of 0.38. Extra Space Storage has a 12 month low of $68.09 and a 12 month high of $94.49.
Extra Space Storage (NYSE:EXR) last posted its earnings results on Wednesday, April 26th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.05. The firm had revenue of $263 million during the quarter, compared to the consensus estimate of $233.12 million. Extra Space Storage had a net margin of 36.40% and a return on equity of 14.92%. The company’s revenue was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. Equities research analysts anticipate that Extra Space Storage will post $2.66 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Tuesday, June 13th. Extra Space Storage’s dividend payout ratio (DPR) is currently 108.33%.
In related news, Director Spencer Kirk sold 20,000 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $75.15, for a total transaction of $1,503,000.00. Following the transaction, the director now directly owns 664,430 shares in the company, valued at $49,931,914.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James Overturf sold 1,300 shares of the firm’s stock in a transaction on Friday, April 21st. The stock was sold at an average price of $80.50, for a total value of $104,650.00. Following the transaction, the executive vice president now owns 91,475 shares in the company, valued at $7,363,737.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,900 shares of company stock valued at $4,822,587. Company insiders own 3.72% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan boosted its position in shares of Extra Space Storage by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,960 shares of the real estate investment trust’s stock valued at $314,000 after buying an additional 10 shares during the period. Brown Advisory Inc. boosted its position in shares of Extra Space Storage by 0.3% in the fourth quarter. Brown Advisory Inc. now owns 4,936 shares of the real estate investment trust’s stock valued at $381,000 after buying an additional 16 shares during the period. Cleararc Capital Inc. boosted its position in shares of Extra Space Storage by 0.7% in the first quarter. Cleararc Capital Inc. now owns 3,095 shares of the real estate investment trust’s stock valued at $230,000 after buying an additional 22 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Extra Space Storage by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,212 shares of the real estate investment trust’s stock valued at $557,000 after buying an additional 28 shares during the period. Finally, Quadrant Capital Management LLC boosted its position in shares of Extra Space Storage by 0.3% in the third quarter. Quadrant Capital Management LLC now owns 13,159 shares of the real estate investment trust’s stock valued at $1,045,000 after buying an additional 41 shares during the period.
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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