Extra Space Storage Inc (NYSE:EXR) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided EPS guidance of $4.25 to $4.32 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.25.
Extra Space Storage Inc (NYSE:EXR) traded up 0.10% during mid-day trading on Friday, hitting $76.31. The company had a trading volume of 993,426 shares. The stock’s 50 day moving average price is $77.60 and its 200 day moving average price is $76.42. Extra Space Storage Inc has a 52-week low of $68.09 and a 52-week high of $85.12. The firm has a market cap of $9.62 billion, a P/E ratio of 26.08 and a beta of 0.34.
Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.04. The business had revenue of $276 million during the quarter, compared to analyst estimates of $239.89 million. Extra Space Storage had a return on equity of 15.20% and a net margin of 36.35%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.94 EPS. On average, equities research analysts predict that Extra Space Storage Inc will post $2.67 EPS for the current fiscal year.
EXR has been the subject of a number of research reports. Royal Bank Of Canada reaffirmed a hold rating and set a $80.00 price target on shares of Extra Space Storage in a research note on Thursday, April 27th. BidaskClub raised Extra Space Storage from a hold rating to a buy rating in a research note on Saturday, June 17th. Citigroup Inc. reaffirmed a neutral rating on shares of Extra Space Storage in a research note on Thursday, May 11th. Cantor Fitzgerald reaffirmed a neutral rating and set a $77.00 price target on shares of Extra Space Storage in a research note on Monday, May 22nd. Finally, Goldman Sachs Group, Inc. (The) raised Extra Space Storage from a buy rating to a conviction-buy rating and set a $95.00 price target for the company in a research note on Monday, May 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Hold and an average target price of $85.67.
In other news, EVP James Overturf sold 1,300 shares of the stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $74.59, for a total transaction of $96,967.00. Following the completion of the sale, the executive vice president now owns 89,475 shares in the company, valued at approximately $6,673,940.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Spencer Kirk sold 20,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $79.09, for a total value of $1,581,800.00. Following the sale, the director now owns 665,748 shares of the company’s stock, valued at approximately $52,654,009.32. The disclosure for this sale can be found here. Insiders have sold a total of 63,900 shares of company stock valued at $4,957,788 in the last quarter. Insiders own 3.72% of the company’s stock.
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About Extra Space Storage
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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